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 10:00 am: Principal Economic Adviser Sanjeev Sanyal to attend ICRIER's Annual International G20 Conference in New Delhi. 3:00 pm: Prime Minister Narendra Modi to attend the India-Russia business forum in New Delhi. 4:30 pm: Prime Minister Narendra Modi to attend a World Economic Forum function in New Delhi. 5:00 pm: Finance Minister Arun Jaitley to attend the Accountants General Conference in New Delhi. GMF: BONDS UPDATE Reuters fixed income reporter Richard Leong delves into government bond markets at 06:00 pm IST. To join the conversation, click here: here INDIA TOP NEWS • Saudi Arabia to supply extra oil cargoes to India in Nov as Iran sanctions loom Saudi Arabia, the world's biggest oil exporter, will supply Indian buyers with an additional 4 million barrels of crude oil in November, several sources familiar with the matter said on Wednesday. • Frauds investigator probes five IL&FS firms for fund diversion - ET The Serious Fraud Investigation Office (SFIO) has narrowed on five arms of Infrastructure Leasing & Financial Services (IL&FS) that may have been involved in fund diversion and mismanagement, the Economic Times reported on Wednesday. • RBI sticking with plan to force payments firms to store data locally- sources The Reserve Bank of India will implement in full its directive that forces global payment companies to store data locally from this month, four sources told Reuters, a blow to the firms who had lobbied to dilute the measure. • Bandhan Bank Q2 profit jumps 47 percent Bandhan Bank posted a 47.3 percent jump in second-quarter profit on Wednesday, helped by higher interest earned, and reports said the bank was looking at options to comply with the central bank norms on shareholder stake. • Garden Reach Shipbuilders falls nearly 13 percent on market debut Shares of Garden Reach Shipbuilders and Engineers fell on their market debut on Wednesday after the company raised 3.4 billion rupees at its initial public offering earlier this month. • AirAsia India close to appointing new head - sources AirAsia India is close to appointing an executive from Tata Steel to head the troubled low-cost carrier as its local partner, Tata Sons, moves to take greater control of the company, two sources aware of the matter told Reuters on Wednesday. • India cuts jet fuel tax to 11 percent from 14 percent 'in public interest' India said on Wednesday it would cut the factory gate tax on jet fuel to 11 percent from 14 percent, a move that would bring down fuel prices for the country's ailing aviation industry. • INSIGHT-Did Kerala's dams exacerbate India's once-in-century floods? Joby Pathrose, a farmer living a kilometre away from the usually languid Periyar river in southern India, was woken in the night by the sound of rushing waters. Hours later his plantations and everything he owned were completely submerged. GLOBAL TOP NEWS • China taps brakes on outbound investment, betrays capital flow fears China is suspending approvals for a niche overseas investment product in Shanghai known as the QDLP scheme and urging licence holders, such as JPMorgan Asset Management and Aberdeen Standard Investments, to be "low profile" in marketing it, sources said. • BMW to gain control of China venture for $4.2 billion in milestone deal Germany's BMW said it will take majority control of its main China joint venture for $4.2 billion, the first such move by a global carmaker as Beijing starts to relax ownership rules for the world's biggest auto market. • FT says Murdoch in line for Tesla chair. Musk reply: incorrect Outgoing Twenty-First Century Fox Chief Executive James Murdoch is the lead candidate to replace Elon Musk as Tesla chairman, the Financial Times reported on Wednesday, but Musk in a tweeted reply to the newspaper said, "This is incorrect." LOCAL MARKETS OUTLOOK (As reported by NewsRise) • SGX Nifty nearest-month futures were down 2.5 percent at 10,214.50, from its previous close. - NewsRise • The Indian rupee is expected to open lower against the dollar amid a broad-based selloff in Asian assets, triggered by the biggest decline in U.S. equities in eight months. - NewsRise • Indian government bonds will likely fall today tracking a fall in the rupee to another record low even as an open market purchase of bonds by the central bank may cap the fall. The yield on the benchmark 7.17 percent bond maturing in 2028 may trade in a 7.99 percent-8.06 percent band today. GLOBAL MARKETS • U.S. stocks tumbled on Wednesday, with the S&P 500 and the Dow marking their biggest daily declines since Feb. 8, and technology stocks were at the center of the carnage as rising U.S. Treasury yields sent investors fleeing from risky assets. • Asian share markets sank in a sea of red after Wall Street suffered its worst drubbing in eight months, a conflagration of wealth that could threaten business confidence and investment across the globe. • The dollar was steady against a basket of currencies after spooked investors drove U.S. stocks to their worst fall in nearly eight months overnight. • U.S. Treasury yields fell late on Wednesday in a flight to quality as investors snapped up government bonds in the midst of a sharp sell-off in U.S. stocks. • Oil prices fell to two-week lows as they extended big losses from the previous session amid a rout in global stock markets, with oil also taking a hit from an industry report showing U.S. crude inventories rose more than expected. • Gold prices inched down as robust U.S. data potentially bolstered the chances of multiple U.S. interest rate hikes over the next year. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 74.20/74.23 October 10 -$147.63 mln -$268.97 mln 10-yr bond yield 8.03 pct Month-to-date -$1.69 bln -$1.06 bln Year-to-date -$3.86 bln -$7.81 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 = 74.2400 Indian rupees) (Compiled by Debanjan Bose in Bengaluru)
