August 29, 2018 / 3:21 AM / 10 months ago

Morning News Call - India, August 29

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    9:30 am: Steel Minister Chaudhary Birender Singh at an international
exhibition on minerals and metals in New Delhi.
    12:00 pm: Transport Minister Nitin Gadkari at NHAI’s Toll-Operate-Transfer
program road show in New Delhi.
    12:00 pm: Power Minister R.K. Singh to visit Power System Operation Corp.
Ltd in New Delhi.

    Join our Reuters correspondents in London and New York for a discussion on
the stock markets and company earnings at 6:30 pm IST. To join the conversation,
click on the link: here
    • After flood, tourism in India's Kerala left mud-bound 
    More than a week after the floodwater began subsiding, animal carcasses are
still floating in Kerala's backwaters, and in places a nauseating stench rises
like a wall when the wake from a passing boat breaks the surface.
    • Supreme court seeks WhatsApp's response on petition alleging it breaches
    The Supreme court has asked WhatsApp to respond to a petition that alleges
it breaches certain Indian regulations, creating another headache for the
Facebook-owned firm already facing pressure in India over fake news.

    • INTERVIEW-Google ties up with Indian lenders in bid to woo new users
    Alphabet Inc's Google said on Tuesday it is partnering with a handful of
Indian banks to bring quick loans to the masses, as it aims to woo tens of
millions of new internet users in the country to its digital payments services.

    • India's health ministry calls for halting sales of e-cigarettes, smoking
    India's federal health ministry called on Tuesday for stopping the sale or
import of electronic cigarettes and heat-not-burn tobacco devices that companies
like Philip Morris International Inc were planning to launch in the country.

    • Jet Airways seeks to reassure investors with cost-cutting plan
    Jet Airways on Tuesday set out to reassure investors it was taking measures
to cut costs and boost revenue, a day after the beleaguered airline reported its
second consecutive quarterly loss.
    • GAIL's online gas portal to boost transparency
    The launch of an online portal by GAIL (India), allowing third-party access
to its natural gas pipeline network, would ensure transparency and permit
companies to understand the infrastructure further, analysts said on Tuesday.

    • White House probes Google after Trump accuses it of bias
    U.S. President Donald Trump on Tuesday accused Google's search engine of
promoting negative news articles and hiding "fair media" coverage of him, vowing
to address the situation without providing evidence or giving details of action
he might take.
    • Canada rejoins NAFTA talks as U.S. autos tariff details emerge
    Canada's top trade negotiator praised Mexico's trade concessions on autos
and labor rights on Tuesday as she rejoined NAFTA talks, while U.S. lawmakers
warned that a bilateral U.S.-Mexico trade deal would struggle to win approval in
    • Haley says U.S. Rohingya report 'consistent' with U.N. findings
    Findings of a U.S. State Department investigation into Myanmar's Rohingya
crisis are "consistent" with those of a report by U.N. investigators released
this week that called for Myanmar's commander-in-chief and other generals be
tried for genocide, the U.S. ambassador to the United Nations said on Tuesday.

    (As reported by NewsRise)
    • SGX Nifty nearest-month futures were trading at 11,751, little changed
from its previous close. 
    • The Indian rupee will likely open lower against the dollar amid month-end
demand for the greenback from corporates and pullback in regional currencies. 
    • Indian government bonds are likely to edge lower today as the rupee is
expected to fall against the dollar and as crude oil prices continued to rise.
The yield on the benchmark 7.17 percent bond maturing in 2028 may trade in a
7.88 percent-7.93 percent band today. 
    • The S&P 500 and the Nasdaq edged up to record closing highs for the third
consecutive session as investors struggled over whether to take profits
following a rally on positive developments in trade disputes which have vexed
the markets.
    • Asian shares crept marginally higher as optimism over the U.S.-Mexico
trade deal was quickly clouded by caution ahead of a looming deadline on tariffs
with China.
    • The dollar inched higher, sticking to a tight range after touching a
four-week low overnight as optimism over the U.S.-Mexico trade deal gave way to
caution ahead of an upcoming deadline in the China-U.S. trade dispute.
    • U.S. Treasury yields on Tuesday rose across maturities to weekly highs as
fears of a global trade war abated a day after the United States and Mexico
agreed on an overhaul of the North America Free Trade Agreement, and following
fair demand at auction for $37 billion of five-year notes.
    • Oil markets were stable, buoyed by falling supplies from Iran ahead of
U.S. sanctions but held in check by rising production outside the Organization
of the Petroleum Exporting Countries.
    • Gold prices edged up after falling as much as 1 percent in the previous
session, but Sino-U.S. trade tensions continued to drag on the precious metal.
                   CLOSE        FII INVESTMENTS  EQUITIES      DEBT
 PNDF spot         70.11/70.14  August 28        -$22.97 mln   $251.36 mln
 10-yr bond yield  8.04 pct     Month-to-date    $224.08 mln   $914.48 mln
                                Year-to-date     -$355.43 mln  -$4.83 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 = 70.0900 Indian rupees)

 (Compiled by Samrhitha Arunasalam in Bengaluru)
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