Morning News Call – India, 11 February

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• FACTORS TO WATCH
9:30 am: Prime Minister Narendra Modi at Petrotech 2019.

• LIVECHAT - THE FX WEEK COMING SOON
FX Buzz badyst Jeremy Boulton badyzes G7 currency at 6:00 pm ET. AT
join the conversation, click on the link: here


INDIA TOP NEWS
• US plans withdrawal of zero tariffs for India - sources
India could lose a vital trade concession in the United States, under which it would not enjoy any
tariffs on exports of $ 5.6 billion to the United States, in a context of growing conflict
its trade and investment policies, people who are familiar with the
the material said.
• Indian banks are unlikely to align with central bank rate cuts
Indian bankers say that stacks of bad debts and the high cost of deposits mean that they are
Loan interest rates are unlikely to be as low as those of the central bank.
its key lending rate in order to stimulate growth.
• Two financial companies behind the fall in shares of Reliance Group companies
A recent fall in the shares of three companies in the Reliance group has been caused
by two financial companies selling shares they held as collateral, the
conglomerate said Friday.
• Tata Steel Q3's standalone profit flies on robust production
Tata Steel has announced an 83.6% increase in third quarter net profit
Friday, helped by a robust domestic production.
• Merger of Bharti Airtel with Telkom Kenya
Bharti Airtel announced Friday that its Airtel Networks Kenya unit has agreed to merge
with Telkom Kenya, the smallest telecommunications operator in the East African country.

• Mahindra & Mahindra's quarterly profit drops 11.4% on lean demand
Mahindra & Mahindra released Friday a decline of 11.4% in the third quarter
profit, while demand for pbadenger vehicles has slowed and its consumer segment
under high pressure due to new axle loading standards.
• Quarterly BPCL profit plummets 77% but exceeds estimates
Bharat Petroleum announced Friday a 77% decline in net income in the third quarter
profit, driven by higher expenses, including the cost of raw materials.

• Facebook toughens advertising policies in India ahead of elections
Facebook toughens the rules governing political advertising in India
to create more transparency before the country's general elections expected before
May, the social media giant said Thursday late.


GLOBAL TOP NEWS
• Negotiations collapse at border as US government closure is imminent
Border Security Finance Talks Collapsed after Democratic and Republican Elections
lawmakers clashed over immigration detention policy while they were working to avoid
Another closure of the US government, said Sunday a Republican senator.

• South Korea signs agreement to pay more for US troops after Trump's request
Officials signed Sunday a short-term agreement to strengthen South Korea's position
contribution to the maintenance of American troops on the peninsula, after a previous
The agreement has lapsed following the appeal of the southern United States, Donald Trump, to pay more.

• Thai Electoral Commission to Decide on Princess's Candidacy for Prime Minister Post-King
reprimand
Thai Electoral Commission to Review Surprise Appointment Monday
of a Thai princess as the prime minister's candidate in the March elections after
his brother, King Maha Vajiralongkorn, described it as "inappropriate" and
unconstitutional.


OUTLOOK FOR LOCAL MARKETS
(As reported by NewsRise)
• The SGX Nifty futures of the nearest month traded at 0.3% below
918.50.
• Indian rupee should open little change from the dollar
after the fall of the yuan following the reopening of Chinese markets after Lunar New
Holiday year.
• Indian government bonds should ease at the start of trading as
Closing price lower than the estimate for the 2029 bond when awarding the debt last week
concerns about the appetite for long-term bonds. The yield on the
7.17% of the benchmarks maturing in 2028 are likely to trade at 7.46%.
percent band-7.52 percent today.


GLOBAL MARKETS
• The S & P 500 and Nasdaq benchmark rose slightly to take two days
The series of defeats Friday, while the positive results of companies make up for the persistence
skepticism about the United States and China reach a trade agreement before the
Deadline of March 1st.
• Asian stocks started the week on the back as investors could not
shake worries about global growth, US policy and Sino-US trade
war.
• The dollar has moved up against most other currencies, staying close to six weeks
new worries about trade tensions between the United States and China and global growth have led to
appetite for safe haven badets.
• US Treasury yields tumbled for a fourth consecutive session on Friday,
under the pressure of global stock market losses on concerns, there would be no trade
agreement between the United States and China on the deadline.
• Oil prices fell by more than 1% as drilling activity in the United States resumed
and as a refinery fire in the US state of Illinois resulted in the closure of
a large distillation unit.
• The price of gold has remained stable due to the uncertainties surrounding Sino-US trade.
the war and fears of a slowdown in global economic growth, while a strong dollar
weighed on the precious metal.


CLOSE FII INVESTMENTS IN SHARES
Spot PNDF 71.06 / 71.09 8 February 118.61 million dollars 312.15 million dollars
10 year bond yield: 7.52% to date: $ 352.88 million - $ 85.40 million
Cumulative data of the year: $ 277.53 million - $ 891.25 million



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]
 


(1 $ = 71.1600 Indian rupees)

(Compiled by Hrithik Kiran Bagade in Bengaluru)