November 14, 2019 / 3:38 AM / a month ago

Morning News Call - India, November 14

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    FACTORS TO WATCH
    • 12:00 pm: Government to release October wholesale price inflation data in
New Delhi.

    
    GMF: LIVECHAT - AUTHOR FOCUS
    Lord John Browne, Chairman of Huawei Technologies (UK), Chairman of L1
Energy and former chief executive of BP, joins us to discuss his latest book
"Make, Think, Imagine" and responses to new technologies, at 11:00 am IST. To
join the conversation, click on the link: refini.tv/2P8N0Wp
    
    
    INDIA TOP NEWS
    • India's October retail inflation breaches cenbank's medium-term target
    India's retail inflation breached the central bank's medium-term target of
4% in October for the first time in 15 months, on the back of higher food
prices.
    • BRICS leaders rail against 'bullying' protectionism
    Leaders of the BRICS group of emerging economies on Wednesday criticized
what they view as politically motivated protectionism at a time of a global
slowdown and said their countries are doing their best to counter the
trend.
    • Indian court provides temporary relief to lenders on $5.6 billion loans
    An Indian court on Wednesday allowed banks to recover some dues from shadow
lender Dewan Housing Finance Corporation Ltd, granting relief to banks
that had earlier been staring at a $5.6 billion hit to their books.
    • Court rebukes India government as poisonous smog chokes Delhi
    India's top court censured the federal government for its inaction in
fighting pollution on Wednesday, as poisonous smog choked the streets of the
capital New Delhi forcing schools to shut and half of vehicles to be banned from
the streets.
    • GRAPHIC-India's passive funds set to beat active funds for second year
    India's passive index-tracking equity funds are set to beat their active
stock-picking counterparts in returns for a second successive year as fund
managers grapple with volatility and the challenges of outperforming benchmark
indexes.
    • India's NCDEX launches agriculture futures index
    India's National Commodities and Derivatives Exchange (NCDEX) launched an
agriculture index, comprising 10 most liquid commodities, the exchange said in a
statement on Wednesday.
  
    
    GLOBAL TOP NEWS
    • China's economy grinds lower as Oct indicators miss forecasts
    China's industrial output grew significantly slower than expected in
October, as weakness in global and domestic demand and the drawn-out Sino-U.S.
trade war weighed on activity in the world's second-largest economy.
 
    • Japan's economy nearly stalls in Q3, growth at 1-year low as trade war
bites
    Japan's economy grew at the slowest pace in a year in the third quarter as
the U.S.-China trade war and soft global demand knocked exports, keeping
policymakers under pressure to ramp up fiscal and monetary stimulus to bolster a
fragile recovery.
    • Another day of chaos looms for Hong Kong amid relentless city-wide
protests
    Anti-government protesters paralysed parts of Hong Kong for a fourth day on
Thursday, forcing school closures and blocking highways and other transport
links to disrupt the financial hub amid a marked escalation of
violence.

        
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • SGX Nifty nearest-month futures were 0.1% higher at 11,882.00.
    • The Indian rupee is expected to open little changed against the dollar as
investors assess India’s quicker-than-expected consumer inflation and China’s
industrial output and retail sales data. 
    • Indian government bonds are likely to open lower, as faster-than-expected
pace of gain in October retail inflation raised some concerns over the quantum
of further monetary easing. The yield on the benchmark 6.45% bond maturing in
2029 is likely to trade in a range of 6.52%-6.58%.
        
    
    GLOBAL MARKETS
    • The Dow Jones Industrial Average and the S&P 500 posted record closing
highs on Wednesday helped by a big jump in Walt Disney shares, but the Nasdaq
fell as stocks were kept in check by fresh uncertainty over U.S.-China trade
relations.
    • Japanese shares retreated to one-week lows on Thursday as doubts over an
interim U.S.-China trade deal lifted the safe-haven yen, while Line Corp and Z
Holdings surged on news that the Yahoo Japan operator was in merger talks with
messaging app firm Line.        
    • Doubts that securing a trade agreement between the United States and China
is far from a done deal helped to lift safe-haven currencies such as the yen and
the Swiss franc, while pulling the yuan lower.
    • U.S. Treasury yields fell on Wednesday as optimism that the United States
and China will reach a deal to remove tariffs faded, and as the recent rise in
yields was seen as overdone.
    • Oil prices rose, extending gains from the previous session, as an industry
report showing a fall in U.S. crude stockpiles last week added to positive
comments by the U.S. Federal Reserve head on the U.S. economy.
    • Gold prices edged down as bullion's safe-haven appeal was dented by
hawkish signals from the U.S. Federal Reserve on further interest rate cuts,
citing growth in the U.S. economy, a strong labour market and steady inflation.

    
    
                   CLOSE        FII INVESTMENTS  EQUITIES        DEBT
 PNDF spot         71.97/72.00  November 13      1,579.98 crore  343.36 crore
 10-yr bond yield  6.51%        Month-to-date    13,348 crore    5,848 crore
                                Year-to-date     81,901 crore    38,704 crore
 
    (FII investment numbers are in Indian rupees. Source: National Securities
Depository Limited)
    
    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  = 71.35 Indian rupees)
 

 (Compiled by Pranay Prakash in Bengaluru)
  
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