November 20, 2018 / 3:15 AM / a month ago

Morning News Call - India, November 20

To access the newsletter, click on the link:
 
 here
    
    
If you would like to receive this newsletter via email, please register at: here
    
    
    FACTORS TO WATCH
    No major events are scheduled.
    
    LIVECHAT - ECONOMY OUTLOOK
Is the world economy in for a surprise, will the trade wars and political
tensions put a dampener on the economy? We will find out with Christophe
Barraud, Chief Economist at Market Securities, at 1730 IST. To join the
conversation, click on the link: here
    
    
    INDIA TOP NEWS
    • RBI board agrees to support small firms, ease capital norms
The board of India's central bank advised it to act to support small businesses
and give banks more time to step up capital norms, following weeks of pressure
from Prime Minister Narendra Modi's government to spur lending ahead of
elections.
    • Tatas to go slow on deal to acquire debt-laden Jet Airways - Times of
India
Indian conglomerate Tata Sons will go slow on a deal to buy Jet Airways after
some directors expressed reservations at an inconclusive board meeting last
Friday, the Times of India reported.
    • India's aviation minister orders safety audit of all airlines - TV
India's civil aviation minister has ordered a safety audit of all domestic
airlines, including struggling carrier Jet Airways, news channel CNBC-TV18
reported on Monday.
    
    
    GLOBAL TOP NEWS
    • Nissan shares slump on Ghosn's arrest over financial misconduct
Shares of Nissan fell, a day after the arrest of Chairman Carlos Ghosn sent
shockwaves through the business world and threw into doubt the future of Japan's
No.2 automaker and its global alliance.
    • Apple cuts production orders for all 3 new iPhone models - WSJ
Apple has cut production orders in recent weeks for all three iPhone models
launched in September, the Wall Street Journal reported on Monday, citing
sources.
    • China blames "excuses" for protectionism for lack of APEC agreement
The failure of the Asia Pacific Economic Cooperation (APEC) summit at the
weekend to agree on a communique was down to certain countries "excusing"
protectionism and trying to force their views on others, a senior Chinese
diplomat said.
    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • SGX Nifty nearest-month futures were trading 0.3 percent lower at
10,746.00, from its previous close.
    • The Indian rupee is expected to open higher against the dollar amid signs
of a truce between New Delhi and the Reserve Bank of India following a closely
watched board meeting of the nation’s central bank, analysts said. 
    • Indian government bonds are likely to gain in early trade tracking a
continued appreciation in the local currency and as the central bank announced
an open market purchase of notes. The yield on the benchmark 7.17 percent 2028
bond is likely to trade in a 7.75 percent-7.81 percent band today.
    
    
    GLOBAL MARKETS
    • U.S. stocks dropped and the Nasdaq fell 3 percent on Monday as investors
dumped Apple, internet and other technology shares, further shaking confidence
in a group of stocks that has propelled the long bull market.
    • Asian stock markets skidded, extending sharp losses on Wall Street as
technology firms bore the brunt of worries about slackening demand, while the
dollar sagged after weak U.S. data further sapped confidence in the
currency.
    • The dollar hit a near two-week low against its peers with sentiment soured
by Federal Reserve caution on the global outlook and weak data at home, pointing
to slower rate hikes.
    • U.S. Treasury yields fell to six-week lows on Monday as stocks fell,
boosting demand for low-risk U.S. government debt.
    • Oil prices were held in check as expectations of an OPEC-led supply cut
supported the market but were countered by a deteriorating economic outlook, as
well as a surge in U.S. production.
    • Gold prices held steady as the dollar was pressured by weak U.S. economic
data and cautious comments about the global economy from Federal Reserve
officials.
    
    
                   CLOSE        FII INVESTMENTS  EQUITIES     DEBT
 PNDF spot         71.63/71.66  November 19      $154.04 mln  $43.85 mln
 10-yr bond yield  7.79 pct     Month-to-date    $576.71 mln  $860.17 mln
                                Year-to-date     -$5.35 bln   -$7.24 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 = 71.6050 Indian rupees)

 (Compiled by Yoganand KN in Bengaluru)
  
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