September 7, 2017 / 3:26 AM / a year ago

Morning News Call - India, September 7

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    9:30 am: Transport Minister Nitin Gadkari, NITI Aayog CEO Amitabh Kant,
Ashok Leyland CEO Vinod Dasari and M&M Automotive Sector President Rajan Wadhera
at SIAM Annual Convention in New Delhi.
    10:00 am: Food Safety and Standards Authority of India CEO Pawan Kumar
Agarwal, Tata Starbucks CEO Sumitro Ghosh, Cadila Healthcare Chairman Pankaj
Patel and other corporate officials at Massmerize event in New Delhi.
    CMC Markets' chief market analyst Michael Hewson joins us for a look at
what's likely to drive direction in the coming month at 2:30 pm IST. To join the
conversation, click on the link: here
    • SEBI calls for new ways to manage foreign inflows
    A senior official at India's capital markets regulator warned on Wednesday
about the impact of "huge" foreign investments on the rupee and called for ways
to manage the inflows through "a calibrated system."
    • India cracks down on directors of shell companies
    Directors of Indian shell companies that have not filed tax returns for at
least three years have been disqualified from re-appointment or from being
appointed to similar roles elsewhere, India's finance ministry said on
    • U.S. starts probe into steel flanges from China, India
    The U.S. Department of Commerce on Wednesday said it began an investigation
into possible dumping and subsidization of stainless steel flanges from China
and India.
    • Star India injects $192 mln into digital content arm
    Star India, a media company backed by Twenty-First Century Fox, has injected
12.33 billion rupees into its digital content arm over the last six months amid
intense competition among online video providers in India.
    • Thyssenkrupp sees boost for steel from shift to electric cars 
    Thyssenkrupp's European steel business, expected to be merged soon with its
counterpart at Tata Steel, will get a boost from the auto industry's shift
towards electric vehicles, a senior executive at the group said.
    • Reliance Industries to buy Kemrock assets
    Reliance Industries Ltd, oil-to-telecoms conglomerate, said on Wednesday it
will buy assets of Kemrock Industries and Exports Ltd, in a move to enter the
composites and carbon fibre manufacturing business.
    • Trump backs Democrats on debt limit in rare bipartisan deal
    U.S. President Donald Trump forged a surprising deal with Democrats in
Congress on Wednesday to extend the U.S. debt limit and provide government
funding until Dec. 15, embracing his political adversaries and blindsiding
fellow Republicans in a rare bipartisan accord.
    • S.Korea deploys anti-missile system as US seeks tough N.Korea sanctions
Protesters clashed with thousands of police at a South Korean village on
Thursday as components of a controversial system to guard against North Korean
missiles were deployed, while China and the United States discussed options to
deal with Pyongyang.
    • Hurricane Irma lashes Caribbean islands; Florida braces for hit
    Hurricane Irma, one of the most powerful Atlantic storms in a century,
howled past Puerto Rico on Wednesday after thrashing several smaller Caribbean
islands with roof-ripping winds, drenching rains and pounding surf on a
collision course with Florida.
    (As reported by NewsRise)
    • The SGX Nifty Futures were at 9,975.00, trading up 0.3 percent from its
previous close.
    • Indian government bonds are likely to fall in early trade tracking
overnight gains in U.S. Treasury yields, as investors await a weekly auction
tomorrow. The yield on the benchmark 6.79 percent bond maturing in 2027 is
likely to trade in a 6.49 percent-6.53 percent band.
    • The Indian rupee will likely edge higher against the dollar, supported by
a recovery in risk appetite after U.S. President Donald Trump and congressional
leaders reached an agreement to increase the government debt limit until
    • Wall Street climbed on Wednesday, boosted by energy shares and helped by
news of an agreement to extend the debt limit, as stocks bounced back from a
day-earlier selloff.
    • Asian shares bounced back after U.S. President Donald Trump and
congressional leaders unexpectedly agreed to raise the government debt limit
until December, eliminating the near-term risk of a government shutdown.

    • The euro held firm ahead of a European Central Bank policy meeting, while
the Canadian dollar hovered at two-year highs after the Bank of Canada surprised
many by raising interest rates.
    • U.S. Treasury yields rose on Wednesday as a congressional fiscal plan that
includes a three-month suspension of the debt ceiling gained support from
President Donald Trump, reducing safe-haven demand among investors worried about
a short-term default.
    • Oil prices held steady, supported by rising demand from the United States
where Gulf Coast refineries are restarting in the wake of Hurricane Harvey.O/R]
    • Gold was steady, supported by a weaker dollar, after dipping slightly in
the previous session on easing concerns of a potential U.S. government shutdown.

                   CLOSE        FII INVESTMENTS  EQUITIES      DEBT
 PNDF spot         64.15/64.18  September 6      -$211.22 mln  $191.73 mln
 10-yr bond yield  6.8 pct      Month-to-date    -$284.01 mln  $187.48 mln
                                Year-to-date     $6.72 bln     $23.33 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 = 64.0550 Indian rupees)

 (Compiled by Erum Khaled in Bengaluru)
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