September 5, 2017 / 3:20 AM / in 3 months

Morning News Call - India, September 5

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    FACTORS TO WATCH
    9:30 am: Commerce Minister Suresh Prabhu, Farm Secretary S.K. Pattanayak at
Agriculture Leadership Summit 2017 in New Delhi.
    10:00 am: Maruti Suzuki India annual general meeting in New Delhi.
    10:30 am: Niti Aayog Chief Executive Amitabh Kant, Commerce Minister Suresh
Prabhu at Water Innovation Summit in New Delhi.
    11:00 am: Power Minister R.K. Singh takes charge in New Delhi.
    
    LIVECHAT - FIXED INCOME
   Hurricane Harvey and heightened North Korea tensions seem to have had little
impact on markets, and now U.S. Treasury Secretary Steven Mnuchin’s confidence
in a tax reform plan being implemented by year-end and soft inflation data point
against near-term Fed tightening. With the looming balance sheet unwinding by
the Fed at its September meeting, Evan Pearce, senior investment manager at
Pictet, joins us at 11.30 am IST to discuss what is next for the markets. To
join the conversation, click on the link: here
       
    
    INDIA TOP NEWS
    • India to bid for Israel oil-and-gas exploration blocks-minister says 
    Indian state-run Oil and Natural Gas Corp plans to bid for Israeli offshore
oil-and-gas exploration blocks, India's oil minister told Reuters, the first
major deal between the two countries since a groundbreaking trip by Prime
Minister Narendra Modi in July.
    • RBI gives HDFC Bank "too big to fail" status along with SBI and ICICI
    Reserve Bank of India has added HDFC Bank to a list of "domestic
systemically important banks", or the equivalent of "too big to fail", according
to a statement on Monday.
    • ONGC seeks shareholders' nod to raise $4 billion
    Oil and Natural Gas Corp said on Monday it wanted to raise 250 billion
rupees through debt to fund acquisitions and capital expenditure this financial
year.
    • Star India bags IPL media rights for $2.55 billion
    Star India will pay a staggering 163.48 billion rupees for the television
and digital rights of the Indian Premier League (IPL) for the next five years,
the country's cricket board announced on Monday.
    • Singapore's DBS wins RBI approval to start subsidiary banking operation
    Singapore's biggest lender DBS Group Holdings has won the Reserve Bank of
India's approval to provide banking services in the country through a
wholly-owned subsidiary, its CEO said on Monday.
    
    
    GLOBAL TOP NEWS
    • U.S. envoy says N.Korean leader 'begging for war' as U.N. mulls sanctions
    The United States accused North Korea's trading partners on Monday of aiding
its nuclear ambitions and said Pyongyang was "begging for war" after the North's
powerful nuclear test on Sunday and signs that further missile launches were on
the way.
    • United Tech to buy Rockwell Collins for $30 billion, combine aerospace
operations
    Aerospace supplier United Technologies Corp UTX.N has struck a $30 billion
agreement to buy avionics and interiors maker Rockwell Collins Inc COL.N, the
companies said on Monday, in a deal that bulks up UTC's power with plane makers
by creating one of the world's largest makers of civilian and defense aircraft
components.
    • Explosions rock Myanmar area near Bangladesh border amid Rohingya exodus
Two blasts rocked an area on the Myanmar side of the border with Bangladesh on
Monday, accompanied by the sound of gunfire and thick black smoke, as violence
that has sent nearly 90,000 Muslim Rohingya fleeing to Bangladesh showed no sign
of easing.

    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • The SGX Nifty Futures were trading at 9,956.50, up 0.3 percent from its
previous close.
    • Indian government bonds are likely to trade little changed today as
investors stay cautious amid geopolitical tensions and lack of fresh cues.The
yield on the benchmark 6.79 percent bond maturing in 2027 is likely to trade in
a 6.48 percent-6.52 percent band.
    • The Indian rupee will likely open little changed against the dollar
tracking broad greenback weakness, as investors await cues on monetary policies
in the U.S. and Europe even as North Korea keeps markets on tenterhooks. 
    
    
    GLOBAL MARKETS
    • Stock markets were under pressure on Tuesday after a global selloff the
previous day in the wake of North Korea's most powerful nuclear test at the
weekend, while safe havens such as gold remained firm.
    • The dollar steadied after investors took in the latest headlines on
tensions in the Korean Peninsula before turning their focus towards U.S.
monetary and fiscal policies.
    • U.S. oil prices edged up as the gradual restart of Gulf of Mexico
refineries following forced shutdowns due to Hurricane Harvey raised demand for
crude, their most important feedstock.
    
  
                   CLOSE        FII INVESTMENTS  EQUITIES      DEBT
 PNDF spot         64.06/64.09  September 4      -$136.49 mln  -$21.86 mln
 10-yr bond yield  6.8 pct      Month-to-date    -$116.52 mln  -$33.73
                                Year-to-date     $6.89 bln     $23.11 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 = 64.0350 Indian rupees)
    
    

 (Compiled by Erum Khaled in Bengaluru)
  

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