November 16, 2018 / 3:14 AM / in a month

Morning News Call - India, November 16

To access the newsletter, click on the link:
 
 here
    
    
If you would like to receive this newsletter via email, please register at: here
    
    
    FACTORS TO WATCH
    No major events are scheduled.

            
    INDIA TOP NEWS
    • Jet Airways shares soar on reports deal with Tata is close
Shares in Jet Airways jumped on Thursday following media reports that the
debt-laden airline was nearing a rescue deal with Tata Sons.
    • India's October trade deficit widens to $17.13 billion
India's October trade deficit widened to $17.13 billion due to a higher oil
import bill, the country's trade ministry said in a statement on Thursday.

    • Infosys appoints Jayesh Sanghrajka as interim CFO
Infosys said on Thursday it appointed Deputy Chief Financial Officer Jayesh
Sanghrajka as the interim finance head, effective from November 17.
    • Yes Bank sinks; chairman's departure heightens concerns
Yes Bank shares fell sharply on Thursday, a day after non-executive independent
chairman Ashok Chawla resigned, further fuelling the uncertainty over the
management of the country's fifth largest private-sector lender.
    • Indian banks could be recapitalised with govt bonds - cbank board member
Indian banks could be recapitalised with government bonds, said an independent
director on the central bank's board on Thursday, at a time when the Reserve
Bank of India and the government are at loggerheads on regulatory issues.

    • Start-up OYO appoints former IndiGo airline boss as CEO
Start-up OYO, backed by Japan's SoftBank Group, said on Thursday it had
appointed former IndiGo airline president Aditya Ghosh as chief executive
officer of its hotels business in South Asia.
    • REUTERS SUMMIT-India's top hedge fund turns to state-run banks as bad
loans wane
India's top hedge fund Avendus Capital Public Markets Alternate Strategies is
exploring opportunities in state-run banks, a sector shunned by most investors
till now, as valuations turn attractive and the backlog of bad loans that have
riddled lenders start to dwindle.
    
    
    GLOBAL TOP NEWS
    • China offer unlikely to spur major trade breakthrough -senior U.S.
official
China's written response to U.S. demands for trade reforms is unlikely to
trigger a breakthrough at talks between Presidents Donald Trump and Xi Jinping
later this month, a senior Trump administration official told Reuters on
Thursday.
    • 'I'm going to see this through': UK PM May vows to fight for Brexit deal
Prime Minister Theresa May vowed to fight for her draft divorce deal with the
European Union on Thursday after the resignation of her Brexit secretary and
other ministers put her strategy and her job in peril.
    • Upset by Trump's Iran waivers, Saudis push for deep oil output cut
When U.S. President Donald Trump asked Saudi Arabia this summer to raise oil
production to compensate for lower crude exports from Iran, Riyadh swiftly told
Washington it would do so.
    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • SGX Nifty nearest-month futures were trading 0.4 percent higher at
10,662.50, from its previous close. 
    • The Indian rupee is likely to open little changed amid tepid regional cues
and October trade deficit that was in line with expectations. 
    • Indian government bonds will likely open little changed, as weekly debt
auction will boost supply, while traders may remain cautious after Fitch Ratings
hinted at the country facing macroeconomic risks. The yield on the benchmark
7.17 percent bond maturing in 2028 is expected to trade in a 7.72 percent-7.78
percent band today. 
    

    GLOBAL MARKETS
    • U.S. stocks rose on Thursday on optimism the United States and China could
resolve their trade dispute, after a news report said Washington would pause
further tariffs on Chinese imports.
    • Asian share markets fared better as hopes for a thaw in Sino-U.S. trade
relations gave Wall Street a fillip, though there were duelling reports on the
prospects for an actual agreement.
    • Investors in the British pound remained on edge in early Asian trade after
the currency suffered a tumultuous slide overnight on fears the country could
crash out of the European Union without a divorce deal.
    • U.S. Treasury prices drifted higher on Thursday, sending yields to
two-week lows across the curve, as Britain's draft agreement to exit the
European Union ran into trouble, prompting investors to seek the safety of
government bonds.
    • Oil prices were stable, supported by expected supply cuts from OPEC but
held back by record U.S. production.
    • Gold prices rose as investors sought safe haven assets amid fears of a
chaotic departure for Britain from the European Union.
    
                   CLOSE        FII INVESTMENTS  EQUITIES     DEBT
 PNDF spot         71.98/72.01  November 15      $284.11 mln  $46.20 mln
 10-yr bond yield  7.75 pct     Month-to-date    $192.55 mln  $713.29 mln
                                Year-to-date     -$5.73 bln   -$7.39 bln
 
    
    
    For additional data:
    India govt bond market volumes                 
    Stock market reports                
    Non-deliverable forwards data              
    Corporate debt stories               [IN CORPD]
    Local market closing/intraday levels [IN SNAPSHOT]
    Monthly inflows                      [INFLOWS RTRS TABLE IN]
 


($1 = 71.9100 Indian rupees)

 (Compiled by Hrithik Kiran Bagade in Bengaluru)
  
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below