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 LIVECHAT - MARKETS FOCUS Stephen Innes, head of APAC trading at Oanda, joins us to talk about markets and cues to watch and what next to expect from central banks at 09:30 am IST. To join the conversation, click on the link: here INDIA TOP NEWS • Government takes control of IL&FS to stem contagion India on Monday took control of Infrastructure Leasing and Financial Services (IL&FS), in a rare move that it said was needed to protect the country's financial system and markets from potential collapse. • India Sept factory growth picks up pace on strong demand and exports Indian factory activity expanded more quickly in September on strong domestic and export order growth, a business survey showed, a welcome sign of strength as policy makers worry about a sharp drop in the rupee and fallout from global trade frictions. • India pumps in liquidity; bonds see profit-taking after initial rally The Indian central bank said on Monday it would pump $4.95 billion into money markets in October, pledging to buy back government bonds as part of a bid to quell fears of a credit crunch cascading through the economy. • Bandhan Bank plunges to all-time low as RBI tightens scrutiny Bandhan Bank Ltd shares plunged to their lowest since March debut on Monday after the central bank withdrew permission to open new branches and froze chief executive's salary, as the banking regulator tightens its grip over the country's crisis-hit financial sector. • Vedanta shareholders back London delisting amid protest Shareholders in Vedanta Resources, the UK arm of Indian miner Vedanta, on Monday backed the delisting of the company from London, where the miner has faced protests and legal action. • Garden Reach Shipbuilders IPO fully subscribed after 3-day extension Garden Reach Shipbuilders & Engineers Ltd's initial share sale to raise up to $47.31 million was fully subscribed on the sixth day of the sale on Monday, after the state-owned firm extended the offer by three days. GLOBAL TOP NEWS • Japan Sept services PMI slumps to 2-yr low after natural disasters Japan's services sector grew at its slowest pace in two years in September due to heavy rains, flooding, and earthquakes, a private survey showed on Wednesday. • Trade pact clause seen deterring China trade deal with Canada, Mexico China's hopes of negotiating a free trade pact with Canada or Mexico were dealt a sharp setback by a provision deep in the new U.S.-Mexico-Canada trade agreement that aims to forbid such deals with "non-market" countries, trade experts said on Tuesday. • Tesla worried by China tariffs even as deliveries surge Tesla Inc announced record quarterly car production on Tuesday but warned of major problems with selling cars in China due to new tariffs that would force it to accelerate investment in its factory in Shanghai. LOCAL MARKETS OUTLOOK (As reported by NewsRise) • SGX Nifty nearest-month futures trading up 0.5 percent at 11,015.00, from its previous close. • The Indian rupee is expected to open at a record low against the dollar as Brent crude oil prices reached a fresh four-year high. • Indian government bonds will likely edge lower in early trade tracking a rise in crude oil prices and as the local currency may continue to depreciate against the dollar. The yield on the benchmark 7.17 percent bond maturing in 2028 may trade in a 7.98 percent-8.05 percent band today, a dealer with a state-run bank said. GLOBAL MARKETS • The Dow hit a record closing high on Tuesday, but another drop in Facebook shares weighed on both the S&P 500 and Nasdaq, driving both to finish in the red. • Asian shares ticked down and the euro held at six-week lows as Italy's mounting debt and Rome's budget plan set it on a collision course with the European Union. • The dollar stood near a one-month high against its peers as concerns as political wrangling over Italy's budget plan rattled market sentiment and weighed on the euro. • The yield curve flattened on Tuesday as a hawkish afternoon speech from Federal Reserve Chair Jerome Powell lifted the short end of the curve while the long end remained muted as investors sought safety from the Italian bond selloff. • Oil prices were firm on expectations of a tighter market once U.S. sanctions start targeting Iran's petroleum industry from next month, although a strong dollar and rising U.S. crude supply curbed gains. • Gold prices edged up after gaining over 1 percent in the previous session, buoyed by safe-haven demand as Italy's budget plan sets it on course for a potential clash with the European Union. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 72.74/72.77 October 1 -$252.61 mln -$338.52 mln 10-yr bond yield 7.99 pct Month-to-date -$1.31 bln --- Year-to-date -$2.17 bln -$7.29 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 = 72.92 Indian rupees) (Compiled by Siddharth Athreya V in Bengaluru)
