Morning News Call - India, October 18

Last Updated: Tue, Oct 18, 2016 09:00 hrs

To access the newsletter, click on the link: http://share.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN_10182016.pdf If you would like to receive this newsletter via email, please register at: https://forms.thomsonreuters.com/india-morning/ FACTORS TO WATCH 10:15 am: RBI Executive Director G. Mahalingam delivers keynote address at Morningstar Investment conference in Mumbai. GMF: LIVECHAT - BREXIT FOCUS with Aurelija Augulyte, Senior Analyst and Macro Strategist, Nordea Markets Since British PM Theresa May has talked about a March timeline for triggering Article 50, the pound has been tumbling with increasing talks of a ""hard Brexit"". Aurelija, our forum regular will join us with her outlook. at 1130 IST. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS  Foreign interest in high-yielding India bonds wanes Demand for high-yielding Indian government bonds is dwindling, going by the reduced interest seen at an auction on Monday for foreign investors for rupee-denominated sovereign paper.  Maersk defends sending ships to Indian shipbreaking yard Shipping conglomerate A.P. Moller-Maersk said on Monday it was striving to improve workers' rights at shipbreaking yards it uses in India after criticisms of hazardous conditions.  Fire in private hospital in eastern India kills 14 At least 14 people died on Monday when a fire broke out at a private hospital in the eastern Indian state of Odisha, officials said. GLOBAL TOP NEWS  Netflix subscriptions boom around world, shares jump 20 percent Netflix Inc added over 50 percent more subscribers than expected in the third quarter as original shows such as "Stranger Things" drew new international viewers and kept U.S. customers despite a price hike, sending its shares soaring 20 percent in late trade.  Australia's Crown Resorts 'deeply concerned' about employees detained in China Billionaire James Packer, the majority owner of Australian Crown Resorts Ltd, said he was very concerned for 18 company employees detained in China for suspected "gambling crimes."  Chinese state firms launch $1.8 billion fund to invest in impoverished regions A group of 51 enterprises run by the Chinese central government has launched a 12.2 billion yuan ($1.83 billion) fund to invest in the country's poorest regions, as part of China's strategic plan to use market forces in the fight against poverty. LOCAL MARKETS OUTLOOK (As reported by NewsRise)  The SGX Nifty Futures were at 8,572.00, trading up 0.47 pct from its previous close.  The Indian rupee is poised to open higher against the dollar, tracking its Asian peers, as mixed U.S. economic data and profit-taking weighed on the greenback.  Indian government bonds are likely to fall in early session amid absence of fresh triggers, while investors await another round of open market purchase of notes by the country's central bank. The yield on the benchmark 6.97 pct bond maturing in 2026 is likely to trade in a 6.72 pct - 6.77 pct band. GLOBAL MARKETS  Wall Street ended modestly lower on Monday as energy stocks retreated along with oil prices, while Amazon and Netflix weighed on the consumer discretionary sector.  Asian stocks crept up thanks to a rebound in oil prices and the dollar consolidated recent gains although underlying risk appetite was cautious on concerns over capital outflows and weak data, especially from China.  The dollar took a breather from its recent gains, edging away from seven-month highs against a currency basket as investors took stock of U.S. monetary policy expectations over the near term.  U.S. Treasury yields declined after hitting four-month highs on Monday, as investors sought bargains in bonds whose prices had dropped on Federal Reserve Chair Janet Yellen's remarks last week which suggested that the central bank might tolerate higher inflation.  Oil prices rose as some analysts said markets might not be quite as oversupplied as suggested by many, with global inventories rising less than expected ahead of the high-demand winter heating season in the northern hemisphere.  Gold prices held steady as the U.S. dollar weakened, while rebounding equities capped gains. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 66.78/66.81 October 17 -$68.60 mln -$70.56 mln 10-yr bond yield 6.92 pct Month-to-date -$86.32 mln -$1.04 bln Year-to-date $7.42 bln -$1.00 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 = 66.89 Indian rupees) (Compiled by Sai Sharanya Khosla in Bengaluru)



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