Morning News Call – India, July 29

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FACTORS TO WATCH

No major events are scheduled for the day.

LIVECHAT – MARKET UPDATE

Mike Dolan, EMEA Markets Publisher for Reuters, badesses the state of European markets at the start of a crucial week for central bank policy at 3:30 pm ET. To join the conversation, click on the link: refini.tv/2P8N0Wp

INDIA TOP NEWS

Finance Minister says no need to rethink sovereign bonds abroad

The Indian finance minister has ruled out reconsidering her plan to issue foreign sovereign bonds abroad, she said in an interview published Sunday, despite warnings against a long-term risk to the country. economy.

Indian banks lend money to non-bank corporations: RBI governor at Business Standard

The flow of credit to Indian non-bank financial companies is expected to accelerate soon, Reserve Bank governor Shaktikanta Das told Business Standard in an interview published on Friday.

Lower Provisions Help ICICI Bank Earn First Quarter Profit

ICICI Bank posted a quarterly profit on Saturday against a loss a year earlier, thanks to lower provisions and stronger growth in personal loans.

Maruti Suzuki India surpbades profit estimates

Maruti Suzuki India on Friday managed to exceed the profit expectations of the market by controlling its costs against a backdrop of slowing industry, which has had negative consequences for the sector.

India cuts tax rate on electric vehicles to boost adoption

India slashed Saturday taxes on electric vehicles and chargers, with the aim of encouraging the use of more environmentally friendly cars.

Vedanta's quarterly profit is down nearly 12%, according to estimates

Vedanta's first-quarter profit marginally missed estimates, as falling commodity prices affected revenues and margins.

Aviation regulators release Mahindra's GA8 aircraft to fly

The Australian, New Zealand and European aviation control authorities canceled GippsAero GA8 aircraft orders following the first results of an investigation into an accident in Sweden this month, making nine dead, said on their website.

India urges Iran to release all its crew after the release of nine people

Iran has released nine Indian crew members from a Panama-flagged tanker it seized this month, the Indian Ministry of Foreign Affairs said Saturday. He called for the release of the last three crew members retained from the same vessel.

GLOBAL TOP NEWS

US and China move trade talks in Shanghai as pessimism over agreements

US and Chinese negotiators travel to Shanghai this week for their first in-person talks since a G20 truce last month, a change of scenery for both sides struggling to resolve deep differences over how to end a war commercial for a period of one year.

China's industrial profits fall in June, reinforcing fears of slowing

Profits from Chinese industrial firms contracted in June after a brief rise the previous month, raising fears that the slowdown in the manufacturing sector resulting from a deadly trade war is weighing on economic growth.

After the weekend of violent clashes, Beijing will tackle unrest in Hong Kong

Hong Kong bore the marks of another night of violent demonstrations with helmets, umbrellas and bottles of water strewing the streets of downtown, while Beijing was to make an announcement on the biggest crisis of the Asian financial center since 1997.

OUTLOOK FOR LOCAL MARKETS

(As reported by NewsRise)

• The futures of SGX Nifty in the nearest month were little changed at 11,320.00.

• The Indian rupee is expected to open little on the dollar since the US economy grew faster than expected in June and the Indian Finance Minister said there was no need to rethink foreign currency borrowing projects.

• Indian government bonds should trade up early in the session, with the Federal Finance Minister's comments excluding any badumption that the government is reconsidering plans to issue sovereign bonds in foreign currencies. The yield of the 7.26% benchmark bond maturing in 2029 is expected to trade in a range of 6.49% to 6.55% today.

GLOBAL MARKETS

• Robust earnings from Alphabet and Starbucks pushed the S & P 500 and Nasdaq indexes to record highs on Friday as data showed that US economic growth slowed less than expected in the second quarter.

• Asian equities fell as markets were anxiously looking for a likely cut in US interest rates this week, leaving plenty of speculation that the Federal Reserve would have more signals to wait.

• The dollar held at a two-month high against a basket of currencies in Asia after US GDP data, better than expected, boosted the attractiveness of its performance against rival currencies last week.

• US Treasuries held steady on Friday after a brief rise in yields, which showed that US economic growth slowed less than expected in the second quarter.

• Oil prices fell after Iran called "constructive" emergency negotiations on a multiparty nuclear deal with a group of signatories, suggesting easing tensions in the Middle East.

• Gold prices have risen ahead of the US Federal Reserve's monetary policy meeting scheduled this week, which should lead to lower US interest rates.

For additional data:

India Bond Market Volumes

Stock reports

Deliverables not deliverable

Business Debt Stories [IN CORPD]

Closing the local market / intraday levels [IN SNAPSHOT]

Monthly flow [INFLOWS RTRS TABLE IN]