January 18, 2019 / 3:05 AM / in 6 months

Morning News Call - India, January 18

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    FACTORS TO WATCH
    5:00 pm: RBI to release weekly foreign exchange data in Mumbai.
    
    LIVECHAT - CHARTS & CHAT 
    Reuters Stocks Buzz writer and Chartist Terence Gabriel calls out risks and
opportunities in global markets via the charts at 8:00 pm IST. To join the
conversation, click on the link: refini.tv/2P8N0Wp
    
    
    INDIA TOP NEWS
    • Petchem, consumer units fuel record quarterly profit at Reliance 
    Reliance Industries on Thursday posted record quarterly profit driven by its
telecoms, retail and petrochemicals businesses, which offset the impact of a
weaker refining margins due to volatile crude prices.
    • Jet Airways' creditors weighing restructuring plan
    Jet Airways' lenders are considering a plan to resolve its debt issues, top
creditor State Bank of India said on Thursday, amid media reports two main
shareholders have yet to resolve their differences.
    • Indian business leaders urge central bank to cut benchmark rate
    India's top business groups on Thursday urged the central bank to cut its
benchmark interest rate by at least half a percentage point and lower the cash
reserve ratio it imposes on banks to stimulate an economy that is showing signs
of weakness.
    • Hindustan Unilever third-quarter profit rises about 9 percent
    Consumer goods maker Hindustan Unilever posted an 8.9 percent rise in
quarterly profit on Thursday, in line with street estimates, driven by higher
revenue from its beauty and personal care segment.
    • Federal Bank third-quarter profit jumps 28 percent, beats estimates
    Private-sector lender Federal Bank posted a 28.3 percent jump in
third-quarter profit on Thursday, as a healthy increase in interest income
helped offset the impact of higher provisions.
    • Indian air safety watchdog orders extra checks on planes with Pratt &
Whitney engines
    India's air safety watchdog on Thursday directed airlines to make extra
checks on their Airbus A320neo aircraft fitted with Pratt & Whitney engines as
part of new safety protocols after temporary grounding orders affected the
planes last year.
    
    
    GLOBAL TOP NEWS
    • North Korea envoy in U.S. for talks with Pompeo, possibly Trump
    A North Korean envoy arrived in Washington on Thursday for expected talks
with Secretary of State Mike Pompeo and a possible encounter with President
Donald Trump aimed a laying the groundwork for a second U.S.-North Korea summit.

    • Japan's consumer inflation slows to 7-month low, adds to BOJ's travails
    Japan's annual core consumer inflation slowed to a seven-month low in
December as soft household spending kept firms from raising prices, a further
sign of the growing challenge faced by the central bank in achieving its elusive
2 percent target.
    • China's envoy to Canada says Huawei 5G ban would have repercussions
    China's envoy to Canada on Thursday warned Ottawa there would be
repercussions if it banned technology firm Huawei Technologies from supplying
equipment to Canadian 5G networks, the latest blast in a deepening bilateral
dispute.
    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • SGX Nifty nearest-month futures were trading 0.6 percent higher at
10,982.50 from its previous close. 
    • The Indian rupee is expected to open little changed against the dollar, in
line with other regional currencies, amid conflicting reports about U.S.-China
trade relations.
    • Indian government bonds are expected to fall in early trade ahead of a
weekly auction of notes today, even as investors remain concerned over the
government’s fiscal position. The yield on the benchmark 7.17 percent bond
maturing in 2028 is likely to trade in a 7.54 percent - 7.59 percent band today.
    
    
    GLOBAL MARKETS
    • U.S. stocks advanced on Thursday as hopes of a resolution to the trade
dispute between the United States and China boosted industrial shares and lifted
investor sentiment.
    • Asian stocks gained, as hopes for a thaw in the U.S.-China trade conflict
fed investor appetites for risk assets.
    • The dollar was firm against the yen as growing optimism on progress in
Sino-U.S. trade talks supported broader appetite for risk.
    • U.S. Treasury yields rose on Thursday with the benchmark 10-year yield
reaching near three-week highs as better-than-expected economic data and hopes
for progress in U.S.-China trade talks diminished safe-haven demand for
government debt.
    • Oil prices rose after a report from the Organization of the Petroleum
Exporting Countries showed its production fell sharply last month, easing fears
about prolonged oversupply.
    • Palladium held near $1,400 an ounce after surging to record levels in the
previous session on tight supplies and robust demand, while gold stood firm amid
a partial U.S. government shutdown.    
    
                   CLOSE        FII INVESTMENTS  EQUITIES      DEBT
 PNDF spot         71.17/71.20  January 17       $118.61 mln   -$47.76 mln
 10-yr bond yield  7.55 pct     Month-to-date    -$408.46 mln  -$684.93 mln
                                Year-to-date     ---           ---
    
    
    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 = 70.99 Indian rupees)
    
    

 (Compiled by Samrhitha Arunasalam in Bengaluru)
  
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