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Morning News Call - India, September 26
September 26, 2017 / 3:12 AM / 2 months ago

Morning News Call - India, September 26

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    FACTORS TO WATCH
    9:30 am: Principal Chief Commissioner of Customs and GST Mumbai S.C.
Varshney and GST Commissioner Ravinder Saroop at 'GST-Post Implementation
Issues' conference in Mumbai.
    9:45 am: Labor Minister Santosh Kumar Gangwar at launch of PENCIL portal in
New Delhi.
    10:00 am: Finance Minister Arun Jaitley to launch Axis Bank CSR project for
upgradation of schools in New Delhi.
    10:30 am: SEBI Executive Director S.K. Mohanty, SBI Funds Management Chief
Investment Officer Navneet Munot and Kotak Asset Management Chief Investment
Officer Lakshmi Iyer at ‘Institutional Participation in Commodity Derivative
Markets' conference in Mumbai.
    10:30 am: Power & New and Renewable Energy Minister Raj Kumar Singh at
launch of Trading of Energy Saving Certificates in New Delhi.
    11:00 am: President Ram Nath Kovind and Environment Minister Harsh Vardhan
at foundation day of Council of Scientific & Industrial Research in New Delhi. 
    11:30 am: Food Minister Ram Vilas Paswan to launch electronic negotiable
warehouse receipt system in New Delhi.
    11:30 am: Dabur Executive Director-Consumer Care Business Krishan Chutani at
Amazon-Dabur press conference in New Delhi.
    12:00 pm: Reliance Communications annual general meeting in Mumbai.
    
    LIVECHAT - NORTH KOREA CRISIS
    Marcus Noland, Executive Vice President & Director of Studies, Peterson
Institute for International Economics joins us at 9:00 am IST. To join the
conversation, click on the link: here
    
    
    INDIA TOP NEWS
    • PM Modi forms economic council amid slowdown
    Indian Prime Minister Narendra Modi has set up a economic advisory council,
the government said on Monday, as concerns grow about a slowdown in Asia's third
largest economy.
    • Arun Jaitley says planning steps to address growth concerns
    The Indian government is planning measures to revive economic growth,
Finance Minister Arun Jaitley said on Monday.
    • India unveils $2.5 billion plan to electrify all households by end 2018
    India's Prime Minister Narendra Modi on Monday launched a $2.5 billion
project to electrify all of the country's households by the end of 2018.

    • Thyssenkrupp raises 1.4 billion euros via share sale
    Thyssenkrupp AG raised almost 1.4 billion euros ($1.66 billion) from
institutional investors on Monday in a share sale to bolster its balance sheet
ahead of a planned merger with India's Tata Steel.
    • Capacit'e Infraprojects shares surge nearly 60 percent on market debut 
    India's Capacit'e Infraprojects Ltd shares surged as much as 59.6 percent on
its market debut on Monday after the company raised 4 billion rupees in an
initial public offering earlier this month.
    • India's refining capacity expansions lags growth in fuel demand
    India may export fewer fuels in the next four years as growth in the demand
for oil products is rising faster than new refining to produce them is being
added, an Essar Oil company executive said on Monday.
    • Oaktree CEO sees room to invest 'more aggressively' in stressed China,
India debt
    Oaktree Capital Group LLC sees opportunities to invest "more aggressively"
in Chinese and Indian distressed debt as the legal and regulatory systems of the
countries develop, Chief Executive Jay Wintrob said on Monday.
    
    
    GLOBAL TOP NEWS
    • North Korea says U.S. 'declared war,' warns it could shoot down U.S.
bombers
    North Korea's foreign minister said on Monday President Donald Trump had
declared war on North Korea and that Pyongyang reserved the right to take
countermeasures, including shooting down U.S. bombers even if they are not in
its air space.
    • EXCLUSIVE-SEC hackers accessed authentic data used by companies in tests
-sources
    Hackers breached the U.S. Securities and Exchange Commission's computer
system last year by taking advantage of companies that used authentic financial
data when they were testing the agency's corporate filing system, according to
sources familiar with the matter.
    • BOJ wants to stick with current policy, faces growing doubts
    Bank of Japan policymakers said they should stick with their current policy
framework and had reason to be optimistic about consumer prices because measures
of inflation expectations have stopped falling, minutes of the central bank's
July 19-20 meeting showed.
    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • The SGX Nifty Futures were trading at 9,859.00, trading down 0.24 percent
from its previous close.
    • Indian government bonds are likely to fall in early session as investors
await a heavy supply of notes from states later today. The yield on the
benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 6.61
percent-6.65 percent band.
    • The Indian rupee will likely edge lower against the dollar, in line with
most other Asian peers, as demand for safe-haven assets increased amid an
escalation in geopolitical tensions between North Korea and the U.S.
    
    
    GLOBAL MARKETS
    • Wall Street dipped on Monday, as a selloff in technology shares weighed
heavily on the Nasdaq, while the most recent statement from North Korea's to
Washington added to a cautious tone.
    • Asian shares slumped while the dollar remained off recent highs against
the yen against the backdrop of rising tensions on the Korean Peninsula.  

    • The yen stood tall as tensions on the Korean peninsula flared-up anew amid
an escalating war of words between North Korea and the United States, while the
euro struggled near a four-week low versus the dollar.
    • U.S. Treasury yields fell on Monday as concerns about tensions between
North Korea and the United States and a surge in support for the far right in
Sunday's German election stoked safe-haven demand for U.S. government bonds.

    • Oil markets took a breather after prices jumped more than 3 percent in the
previous session, with Turkey threatening to cut crude flows from Iraq's
Kurdistan region to the outside world.
    • Gold edged lower on a firmer U.S. dollar, but held not far off levels
touched in the previous session when it rose more than 1 percent on geopolitical
tensions over the Korean peninsula. 
                   CLOSE        FII INVESTMENTS  EQUITIES      DEBT
 PNDF spot         65.01/65.04  September 25     -$191.79 mln  -$94.93 mln
 10-yr bond yield  6.93 pct     Month-to-date    -$773.16 mln  $414.32 mln
                                Year-to-date     $6.24 bln     $23.56 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 = 65.1225 Indian rupees)
    
    

 (Samrhitha Arunasalam)
  

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