November 9, 2017 / 3:25 AM / a year ago

Morning News Call - India, November 9

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    9:30 am: GSK Pharmaceuticals MD A. Vaidheesh, New India Assurance Chairman
G. Srinivasan, NITI Aayog Health Director Sumant Narain at Insurance Summit in
New Delhi. 
    10:00 am: Ashok Leyland post-earnings analyst call in Mumbai.
    10:30 am: Road Minister Nitin Gadkari at an event in Faridabad. 
    11:00 am: Finance Ministry officials to appear before Parliamentary Standing
Committee in New Delhi.
    11:00 am: NITI Aayog CEO Amitabh Kant, State Bank of India Chairman Rajnish
Kumar at International Mentoring Summit in New Delhi.
    12:30 pm: Ford India MD Anurag Mehrotra to launch New Ford EcoSport in
    2:30 pm: HPCL earnings press conference in New Delhi.
    2:45 pm: Finance Minister Arun Jaitley, Skill Development Minister
Dharmendra Pradhan, ICICI Bank MD & CEO Chanda Kochhar at National
Entrepreneurship Awards in New Delhi.
    3:00 pm: Airport Authority of India Chairman Guruprasad Mohapatra at media
briefing in New Delhi.
    4:00 pm: Tata Motors post-earnings presser in Mumbai.
    Aberdeen Standard Investments Senior Emerging Markets Economist Alex Wolf
will discuss what leverage Trump and China's Xi Jinping have, respectively, when
the two leaders meet in Beijing at 09:00 am IST. To join the conversation, click
on the link: here
    • IndiGo takes responsibility for assault on passenger as India probes
    • IndiGo said on Wednesday it takes responsibility for an incident in which
its security staff manhandled a passenger at New Delhi airport, a day after the
event prompted the government to launch an investigation into India's biggest
    • PayPal starts payment services in India 
    Payment processor PayPal Holdings Inc on Wednesday launched domestic
operations in India, a market already dominated by China's Alibaba-backed PayTM,
the country's leading digital payments firm.
    • India touts bank note ban, opposition fumes and Nepal short-changed
    Indian officials extolled last year's shock ban on high denomination bank
notes as a success on Wednesday, while opponents staged protests and Nepal said
its citizens were still stuck with billions of rupees in old money.
    • Qatari investor sells $1.5 bln stake in India's Bharti Airtel
    A Qatari investor sold its entire 5 percent stake in top Indian telecoms
carrier Bharti Airtel on Wednesday for 96 billion rupees, adding to the
sanctions-hit Gulf nation's recent stake sales in foreign companies.
    • India Q4 gold imports may fall 25 pct on weak festival demand 
    India's gold imports in the last quarter of 2017 could drop by a fourth from
a year ago due to weak demand during key festivals and as investors seek better
returns from riskier assets like equities, industry officials and analysts
    • India's Ashok Leyland Q2 profit up 14 pct, misses estimates
    India's Ashok Leyland Ltd reported an about 14 percent increase in quarterly
profit on Wednesday, helped by higher exports, but missed street
    • Indian Oil Corp starts crude oil trading through Singapore subsidiary
    India's top refiner Indian Oil Corp on Wednesday began trading crude oil
through its Singapore unit, buying a million barrels of Nigerian oil Akpo, the
state-run company's head of finance AK Sharma said.
    • India to auction copper mines over next 2 years
    India's mines secretary said on Wednesday the government would auction
copper mines with capacity of 200,000-300,000 tonnes per year over the next two
    • Trump to talk trade and North Korea with Chinese leader Xi
    North Korea and trade will likely top the agenda when U.S. President Donald
Trump and Chinese President Xi Jinping sit down for formal talks on Thursday, a
day after Trump warned Pyongyang of the grave danger of developing nuclear
    • China's Tencent takes 12 percent stake in Snap as shares plunge
    Snap Inc said on Wednesday that Chinese tech and media investment firm
Tencent Holdings Ltd had taken a 12 percent stake in the company, a day after
the owner of disappearing-messaging app Snapchat was punished by Wall Street for
disappointing quarterly results.
    • U.S., AT&T at odds over CNN in Time Warner deal
    U.S. antitrust regulators and AT&T Inc sparred on Wednesday over whether the
wireless carrier would be required to sell Time Warner Inc's CNN cable network
as a condition of approval of its deal to buy the media company.

    (As reported by NewsRise)
    • The SGX Nifty Futures were trading at 10,389.00, trading up 0.3 percent
from its previous close.
    • Indian government bonds are likely to edge lower, as the market prepares
for a fresh supply of notes today and tomorrow. The underlying sentiment remains
bearish amid high crude oil prices and concerns over India’s fiscal targets.
    • The Indian rupee will likely open little changed against the dollar, as
investors expect the local unit to consolidate on lack of fresh cues. However,
gains in regional assets may lend support to the local equities, which is likely
to aid sentiment for the rupee. 
    • Wall Street closed at a record high on Wednesday as videogame makers
rallied and Apple's market value climbed above $900 billion.
    • Asia stocks hovered near a decade high following another record breaking
day on Wall Street, while the New Zealand dollar rallied as hawkish-sounding
statements by the country's central bank boosted the recently battered
    • The U.S. dollar inched higher versus a basket of currencies, but its
near-term outlook was seen clouded by worries over possible delays to U.S.
President Donald Trump's tax reform plans.
    • U.S. Treasury yields edged higher on Wednesday with the yield curve close
to its flattest level in a decade, as investors reduced their existing bond
holdings to make room for this week's government and corporate bond supply.
    • Oil prices held steady after falling late in the previous session,
supported by ongoing supply cuts led by OPEC and Russia.
    • Gold held steady early after marking a near three-week high in the
previous session as the dollar firmed, while palladium remained close to an over
16-year peak touched on Wednesday.
                   CLOSE        FII INVESTMENTS  EQUITIES      DEBT
 PNDF spot         64.98/65.01  November 8       -$591.23 mln  -$73.29 mln
 10-yr bond yield  7.03pct      Month-to-date    $687.78 mln   -$246.13 mln
                                Year-to-date     $6.34 bln     $25.70 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 = 64.9150 Indian rupees)

 (Compiled by Nachiket Tekawade in Bengaluru)
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