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Morning News Call - India, November 27
November 27, 2017 / 3:29 AM / 15 days ago

Morning News Call - India, November 27

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    FACTORS TO WATCH
    9:15 am: Science and Technology Minister Harsh Vardhan at inauguration of
International Conference on Vaccine in New Delhi.
    11:15 am: Finance Minister Arun Jaitley, Commerce Minister Suresh Prabhu and
Gem & Jewellery Export Promotion Council Chairman Praveenshankar Pandya at an
event in New Delhi.
    12:30 pm: Asian Development Bank Country Director (India) Kenichi Yokoyama
to interact with media in New Delhi.
    1:00 pm: West Bengal Chief Minister Mamata Banerjee, State Finance Minister
Amit Mitra and RP-Sanjiv Goenka Group Chairman Sanjiv Goenka at Horasis Asia
Meeting 2017 in Kolkata.
    2:15 pm: ICRA webinar on Indian banking sector in Mumbai.
    3:00 pm: Commerce and Industry Joint Secretary Shyamal Mishra to address
“Benefits of Trade Agreement between India and Peru” seminar in New Delhi.
    3.30 pm: Government to auction INR 39.30 billion of unutilized limits for
foreign investment in government bonds in Mumbai.

    
    LIVECHAT-FX WEEKAHEAD
    FX Buzz analyst Jeremy Boulton analyses G7 currencies at 04:30 pm IST. To
join the conversation, click on the link: here
    
    
    INDIA TOP NEWS
    • Uber to partner with Mahindra to pilot electric vehicles in India
    Ride-hailing firm Uber will partner with automaker Mahindra and Mahindra to
pilot electric vehicles on its platform in India, the two companies said on
Friday, at a time when the government is pushing to have all new vehicles
electrified by 2030.
    • Jindal Steel could win a slice of rail tender -sources
    A clause in India's global tender for steel rails, part of a $130 billion
overhaul of its railways, could help Jindal Steel and Power Ltd win up to 20
percent of the work, sources said.
    • HDFC Life looks to raise exposure to infrastructure stocks 
    India's HDFC Standard Life Insurance Co.is looking to invest more in the
capital goods sectors and a range of companies that are expected to benefit from
a major government push to build more homes and roads.
    • India hopes GDP growth will recover in Sept quarter- finmin official
    India hopes to see a reversal of the decline in the country's economic
growth in the quarter ended September, a top finance ministry official said on
Friday.
    • ThyssenKrupp kicks off talks with union on steel merger
    Managers and labour leaders at Germany's ThyssenKrupp have struck a
conciliatory tone as they seek to resolve a dispute over job cuts resulting from
a planned merger of its steel operations with those of India's Tata
Steel.
    • Indian mobile carrier Aircel denies reports it is partly shutting ops
    Indian telecom carrier Aircel on Friday denied local media reports that it
was partly shutting down its operations, saying it was making efforts to build a
profitable business.
    
    
    GLOBAL TOP NEWS
    • China's new rules may bring sea change for millions of small investors
    Retired Shanghai truck driver Shen Xipei shunned risky stocks and
low-yielding deposits and instead put his life savings into a wealth management
product sold - and guaranteed - by a bank.
    • Indonesia raises Bali volcano alert to highest level, warns of "imminent"
large eruption risk
    Indonesia raised its alert level for Bali's Mount Agung volcano to the
highest stage four and told residents to immediately evacuate areas near the
summit, warning of the "imminent" risk of a larger eruption.
    • Merkel's CDU agrees to pursue grand coalition in Germany
    Leaders of German Chancellor Angela Merkel's conservative party agreed on
Sunday to pursue a "grand coalition" with the Social Democrats (SPD) to break
the political deadlock in Europe's biggest economy.
    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • The SGX Nifty Futures were trading at 10,382.50, trading down 0.4 percent
from its previous close.
    • Indian government bonds are likely to edge lower after S&P Global Ratings
retained the country’s credit rating while maintaining a stable outlook, dashing
expectations among some investors that the rating agency may upgrade the
outlook.The yield on the benchmark 6.79 percent bond maturing in 2027 is likely
to trade in a 7 percent-7.05 percent band.
    • The Indian rupee will likely open little changed against the dollar, after
Standard & Poor’s reaffirmed the nation’s credit rating at BBB-, with a stable
outlook.
    
    
    GLOBAL MARKETS
    • Technology stocks led the S&P 500 and Nasdaq to record closing highs on
Friday, with the S&P ending above 2,600 points for the first time, while Amazon
and retail stocks got a boost from signs of a strong start to the holiday
shopping season.
    • Asian stocks gave back earlier modest gains and fell back from a decade
high, weighed by weakness in the Chinese and South Korean markets, while the
euro reached a two-month top against the dollar.
    • The euro hit a two-month high versus the dollar and held firm against
other major currencies thanks to strong German business confidence and reduced
anxiety about political instability in Europe's biggest economy.
    • U.S. Treasury yields rose on Friday but stayed within the tight range they
have held for the past week-and-a-half as investors focused on the inflation
outlook.
    • U.S. oil prices dipped, easing from two-year highs on the prospect of
increased U.S. output, although global markets were slightly better supported by
expectations an OPEC-led supply cut will be extended.
    • Gold prices were steady, as the dollar held close to a two-month low hit
in the previous session against a basket of major curriences.
    
                   CLOSE        FII INVESTMENTS  EQUITIES     DEBT
 PNDF spot         64.63/64.66  November 24      -$64.33 mln  -$36.32 mln
 10-yr bond yield  7.12 pct     Month-to-date    $2.54 bln    -$167.95 mln
                                Year-to-date     $8.19 bln    $25.78 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 = 64.67 Indian rupees)
    
    

 (Compiled by Shradha Singh in Bengaluru)
  

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