Reuters logo
Morning News Call - India, May 24
May 24, 2016 / 3:21 AM / in a year

Morning News Call - India, May 24

To access the newsletter, click on the link:

   11:00 am: Punjab National Bank management at post earnings analyst meet in
   4:45 pm: Bank of India media conference after quarterly earnings in Mumbai.
   GMF: ASIA LIVECHAT - BETTING FOCUS with Patrick Jay, Consultant to global,
digital and land based betting, gaming and sports sectors
Patrick is a big name in betting circles having worked as sports and football
director for Ladbrokes and recently as Director of Trading at the Hong Kong
Jockey Club. Currently an acting consultant, we speak to Patrick at 1330 IST
about the future of betting after the inroad of mobiles and tablets, on whether
the Chinese whip on corruption has affected the business in Macau and whether
Football has fat tails! (i.e. Leicester winning again!). To join the
conversation, click on the link: here
     India puts off GM cotton seed order, easing pressure on Monsanto
India has temporarily withdrawn an order capping royalties on any new variety of
genetically-modified cotton seeds, a government source said on Monday, bringing
relief to U.S.-based Monsanto Co, the market's sole supplier. 
     Taiwan to launch futures contracts for U.S, India benchmark indexes 
Taiwan will launch futures contracts for trading on the island of benchmark
stock indexes from the U.S. and India, a senior Taiwanese securities official
said on Monday. 
     India to boost Iran port project, links to Afghanistan 
Indian Prime Minister Narendra Modi on Monday pledged up to $500 million to
develop the southern Iran port of Chabahar, in a move to give his country trade
access to Iran, Afghanistan and central Asia. 
     NALCO to explore building smelter in Iran
National Aluminium Co Ltd and Iran's mining development body have agreed to
explore the possibility of building an aluminium smelter in Iran, NALCO said in
a statement on Monday, as New Delhi tries to boost trade ties with Tehran after
the lifting of sanctions. 
     India braces for more heat after temperatures break records
India was bracing on Monday for another bout of extreme heat after temperatures
smashed records in some parts of the country, while weather officials warned
against more frequent heat waves. 
     Obama to lay out vision for Vietnam ties after ending arms ban
U.S. President Barack Obama is set to lay out more of his plan for a stronger
alliance with Vietnam on Tuesday, after scrapping an arms ban that was the last
big hurdle between two countries drawn together by concern over China's military
     U.S. says late Taliban leader was planning attacks on Americans
U.S. President Barack Obama approved the drone strike that killed Mullah Akhtar
Mansour because the Taliban leader was overseeing plans for new attacks on
American targets in Kabul, the Afghan capital, U.S. officials said on
     Bangladesh Bank heist trail goes cold in Manila as probes falter
More than three months have passed since $81 million was stolen in a brazen
cyber-heist from Bangladesh's central bank and sent to Manila - yet authorities
in the Philippines appear no closer to nabbing those who laundered most of the
money through a bank and casinos here. 
    (As reported by NewsRise)
     The SGX Nifty Futures was trading at 7,727.00, down 0.13 pct from its
previous close.
     The Indian rupee will likely edge lower against the U.S. dollar, tracking
its Asian peers, as expectations of an imminent Federal Reserve rate increase
continue to support the greenback. 
     Indian government bonds will likely open higher, as the central bank
announced an open market purchase of notes this week ahead of a state debt
auction where the quantum is lower than scheduled.The yield on the benchmark
7.59 pct bond maturing in 2026 is likely to trade in a 7.43 pct-7.47 pct range.
     Wall Street ended lower on Monday as a bounce in Apple failed to offset
concerns that the U.S. Federal Reserve could raise interest rates sooner than
     Asian shares were nearly flat in early trading, while the dollar rebounded
from steep losses against the yen in the previous session. 
     The yen held on to gains, shored up by investors' risk aversion and
receding expectations that Japan will weaken the currency after a fresh warning
by the United States last week against intervention. 
     Short-dated U.S. Treasury yields rose on Monday, with the two-year yield
hovering at its highest in two months, as traders bet the Federal Reserve may
raise interest rates as early as June if the economy shows further improvement.
     Oil prices were little changed in thin early Asian trade as a firmer
dollar weighed on oil markets while a likely drawdown in U.S. crude and gasoline
stockpiles pointed to stronger demand ahead of the U.S. summer driving season.
     Gold slipped in early trade to trade near a 3-1/2 week low hit a day
earlier, as prices remained under pressure on expectations that the U.S. Federal
Reserve will increase interest rates as early as June. 
                   CLOSE        FII INVESTMENTS  EQUITIES     DEBT
 PNDF spot         67.44/67.47  May 23           -$9.71 mln   -$22.08 mln
 10-yr bond yield  7.65 pct     Month-to-date    $167.89 mln  -$742.5 mln
                                Year-to-date     $1.97 bln    -$1.09 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 = 67.49 Indian rupees)

 (Reporting by Nishit Kunal in Bengaluru)

Our Standards:The Thomson Reuters Trust Principles.
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