Morning News Call – India, July 12

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FACTORS TO WATCH
10:00 am: Finance Minister Nirmala Sitharaman on NABARD Foundation Day
event in New Delhi.
12.30: Secretaries of the Ministry of Finance will address CII members in New Delhi
Delhi.
17:30: Government to release June data on consumer price inflation in New
Delhi.
5.30 pm: The government will release May data on industrial production in New Delhi.


INDIA TOP NEWS
• India-United States. trade negotiations must resume with little sign of compromise
Indian and American trade negotiators will meet today, with little sign of
compromise on a series of protectionist measures taken by the two governments
recent months that have stretched the links between strategic partners.

• Walmart told the United States that e-commerce rules are regressing in India
impact
Walmart told the US government privately in January that the new
the investment rules for e-commerce were regressive and could harm
commercial links, a company document seen by Reuters showed.
• India will receive below-average monsoon rains over the next two weeks
India could receive below-average rainfall over the next two weeks with strong
deficit in the central and western regions to soybean and cotton
A department official said Thursday, raising concerns about the production of
crops sown in summer.
• Indian Market Monitor will investigate whether the IndiGo CEO has downplayed the impact of the promoters' tiff
-And now
The Indian market regulator is looking into whether the CEO of InterGlobe Aviation
Constable Ronojoy Dutta played down the tussle between the promoters of the
The country's largest carrier, IndiGo, ET Now reported on Thursday, citing sources.

• Apple's top-of-the-line iPhones made in India to be distributed in stores next month - source
Apple's high-end iPhones, badembled in India by the local Foxconn unit, should
hit Indian stores next month, said a source, potentially helping technology
Giant price drop on the world's second largest smartphone market.
• Vistara will launch its first international flights in August
The Indian full-service airline Vistara announced Thursday that it would launch its
international flights in August, a year later than expected, with Singapore
as its first destination.


GLOBAL TOP NEWS
• Powell, Fed, affirms his vision of rate reduction; others see the US economy buzzing
As Chairman of the US Federal Reserve, Jerome Powell focused his attention Thursday on global risks.
that could trigger a Fed rate cut in the coming weeks, his colleagues in the regions
Fed districts have painted a rosier picture of continued economic growth in the United States and
solid economic prospects.
• Iran's Foreign Minister will not be blacklisted by the United States at this time
The United States has decided not to impose sanctions on Iranian foreigners
Minister Mohammad Javad Zarif for the moment, said two sources close to the file
Thursday, Washington could hold an open door to diplomacy.

• Singapore's slowest growth in a decade increases risk of recession
Singapore has released dismal preliminary growth data for the second quarter, including
slowest annual growth of the decade, suggesting that recession and
a relaxation of monetary policy could be imminent.


OUTLOOK FOR LOCAL MARKETS
(As reported by NewsRise)
• The SGX Nifty futures of the nearest month did not change much at 11,573.00.
• Indian rupee should open little change from the dollar
base inflation of US consumption exceeded estimates, possibly impacting
next Federal Reserve decision on interest rates.
• Indian government bonds may be traded down at the beginning of the session,
follow a rise in US Treasury yields and traders wait for local debt supply.
However, any significant drop can be limited, traders remaining optimistic before the
Indian data on retail price inflation in June, available after market hours today. The yield
on the benchmark, a 7.26% bond maturing in 2029 is expected to trade at a rate of 6.48% -6.53%
range until auction result today.


GLOBAL MARKETS
• The Dow and S & P 500 rose on Thursday to close record highs due to health
insurers have won after the Trump administration has abandoned a plan designed to
Prescription drug prices, while financial shares climbed with bond yields.

• Nikkei, Japan, remained unchanged, with investors now focusing on companies.
earn that low profits from some companies such as Yaskawa Electric dragged on
machinery stocks.
• The dollar remained stable after recovering from its peers.
after US inflation data stronger than expected, tempered the prospect of a
aggressively lowering the Federal Reserve interest rate later this month.

• US Treasury yields increased, with the largest gains in long-term securities.
maturities after Thursday auction of $ 16 billion of 30-year bonds, underperforming
Demand and underlying consumer prices in the US recorded their largest increase in 1-1 / 2
years.
• Oil prices have risen as US oil producers in the Gulf of Mexico have reduced more than
half of their production in the face of a tropical storm and persistent tensions in
Middle East.
• The price of gold rose and was on the path to a weekly gain as concerns about
United States and China: new trade tensions and anticipation of a rate cut by the federal government
The reserve stimulated demand for the metal refuge.


CLOSING FII INVESTMENTS IN SHARES
PNDF Item 68.39 / 68.42 July 12 - $ 46.3 million $ 99.82 million
10 Year Bond Yield: 6.49% to date - $ 610.97 million US $ 605.33 million
Cumulative data of $ 10.73 billion to $ 795.43 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 = 68.4240 Indian rupees)

(Compiled by Yogan and KN in Bengaluru)