February 26, 2019 / 3:31 AM / 8 months ago

Morning News Call - India, February 26

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    FACTORS TO WATCH
    7:35 pm: Finance Minister Arun Jaitley at Rising India Summit 2019 in New
Delhi.
    
    GMF: XXX. LIVECHAT - TRUMP-KIM MEETING
    This week U.S. President Donald Trump held out the prospect of an easing of
tough sanctions on North Korea, but only if it does "something that’s
meaningful" on denuclearization. Professor Brian Myers of Dongseo University and
author of 'North Korea's Juche Myth' joins us to discuss what to expect from the
Trump-Kim February 27-28 summit in Hanoi at 11:00 am IST. To join the
conversation, click on the link: refini.tv/2P8N0Wp
    
    
    INDIA TOP NEWS
    Pakistan says Indian aircraft "released a payload" after crossing frontier,
no casualties
Pakistan's military said that Indian military aircraft crossed into its
territory in the disputed Kashmir region and "released a payload" after Pakistan
scrambled its own jets, but there was no casualties or damage.
    
    India's foreign direct investment inflows fall amid pre-election uncertainty
    The flow of foreign direct investment into India is dropping and may suffer
its first full-year decline since Prime Minister Narendra Modi came to power in
2014.
    
    Jet Airways' top creditor says no decision made on going to insolvency
tribunal
    State Bank of India said reports that it was considering taking heavily
indebted Jet Airways to an insolvency tribunal to recover loans were
"speculative", and no such decision had been taken.
    
    Panel seeks more answers from Twitter as India prepares for elections
    An Indian parliamentary panel gave Twitter 10 days to file written answers
to its questions after meeting with a senior company officer, part of India's
scrutiny of social media content as it prepares for elections this year.

    
    Adani wins bids to operate five state-owned airports
    Indian conglomerate Adani Group said its flagship business Adani Enterprises
had won bids to operate five government-owned airports in the country, as it
explores markets beyond mining and renewable energy.
    
    India likely to get normal monsoon rains in 2019 - Skymet
    Monsoon rains in India are expected to be normal in 2019, the country's only
private weather forecasting agency said, raising prospects of higher farm and
economic growth in the $2 trillion economy.

    
    GLOBAL TOP NEWS
    North Korea's Kim arrives in Vietnam for summit; Trump on his way
    North Korean leader Kim Jong Un arrived in Vietnam for a summit with U.S.
President Donald Trump where they will try to reach an agreement on a North's
Korean pledge to give up its nuclear weapons programme.
    
    Trump says 'signing summit' with Xi for U.S.-China deal possible soon
    U.S. President Donald Trump said he may soon sign a deal to end a trade war
with Chinese President Xi Jinping if their countries can bridge remaining
differences, saying negotiators were "very, very close" to a deal.
    
    Vatican Treasurer Pell found guilty of abusing two choir boys in 1990s
    An Australian court has found Cardinal George Pell, the Vatican treasurer
and a former top adviser to Pope Francis, guilty on five charges of child sexual
offences committed more than two decades ago against 13-year-old boys.


    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    SGX Nifty nearest-month futures were trading 0.7 percent higher at 10,812,
from its previous close.
    
    The Indian rupee is expected to open lower against the dollar after
Pakistan’s Major General Asif Ghafoor said an Indian military aircraft crossed
the line of control in Jammu and Kashmir.
    
    Indian government bonds are expected to fall in early trade amid concerns
over escalation of geopolitical conflict between India and Pakistan. The yield
on the benchmark 7.17 percent bond maturing in 2028 is likely to trade in a 7.58
percent-7.64 percent band today.

    
    GLOBAL MARKETS
    • Wall Street's three major indexes ended higher on Monday but well below
the session's highs after President Donald Trump said he would delay a planned
hike in tariffs on Chinese imports.
    • The pound climbed to near four-week highs on a report U.K. Prime Minister
Theresa May could seek to delay a Brexit deadline while Asian shares paused at a
five-month peak on signs Washington and Beijing were making progress on a trade
deal.
    • The yen hovered near its weakest against the dollar this year after
optimism over Sino-U.S. trade negotiations boosted investors' appetite for
riskier assets during the previous session.
    • U.S. Treasury yields rose on Monday as investors reduced their holdings to
make room for a wave of supply and traders rolled back their safe-haven
positions after U.S. President Donald Trump postponed an increase in tariffs on
China.
    • Oil prices edged higher, finding steady ground after tumbling more than 3
percent in the previous session when U.S. President Donald Trump called on OPEC
to ease its efforts to boost the market.
    • Palladium surged to a record high, rising above $1,550, as the threat of
strikes in the South African mining industry aggravated supply concerns in an
already tight market, while gold prices were firm on a subdued dollar.
    
    
                   CLOSE        FII INVESTMENTS  EQUITIES     DEBT
 PNDF spot         70.99/71.02  February 25      $301.23 mln  -$50.02 mln
 10-yr bond yield  7.58 pct     Month-to-date    $1.60 bln    -$565.52 mln
                                Year-to-date     $1.53 bln    -$1.37 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]
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