Market mover: Market Movers: rupees violations 69; oil policy cools prices, monsoon relief and more

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Here is an overview of the main macro triggers that could make the market move Friday. This report was compiled from the agency feeds.

India could withdraw the notification to collect additional duties on 29 US products as of August 4, if both parties are able to resolve disputes over tariffs before that date, after three rounds of negotiations with representatives of the American Administration in New Delhi. The two sides will also present a white paper at a meeting next month in Washington on issues that can be resolved over six months to 3-4 years. India and the United States have been involved in a tit-to-tat action on bilateral trade in recent months. Meanwhile, US envoy to the UN Nikki Haley claimed that the United States wanted to take bilateral relations with India to the next level.

The Rupee Reaches a Record Level, RBI to the Rescue

The Rupee broke the 69-for-1 mark for the first time, peaking at 69.09 Thursday against the previous low of 68,865. 2016, before ending at 68.79 on RBI's intervention. The currency has lost 8% this year and the prevailing macroeconomic winds will keep it under pressure.

rupee graph1 "title =" rupee graph1 "/> <figcaption/> </figure> </p> <p><strong> Monsoon Update <br /></strong><br /> <br /> The southwestern monsoon is expected to cover the entire country by June 30, nearly two weeks before the onset of the monsoon season. The country's precipitation has remained 6% below normal since 1 June, and the first month of the monsoon season may well end at the threshold of the normal rainfall zone. </p> <p><figure clbad= Rain Gain "title =" Rain Gain "/> <figcaption/> </figure> </p> <p><strong> Oil policy cools prices </strong> </p> <p> U.S. Secretary of Energy Rick Perry believes that Saudi Arabia and Russia will be able to boost their oil production to stabilize the oil market and offset the losses of Iran's oil supply. Saudi Arabia is preparing to pump its biggest volumes of oil this month and next month, with about 11 million bpd of oil in July and 10.8 million bpd in June. On Thursday, oil prices fell from the three-and-a-half-year highs because of fears that US sanctions could sharply reduce Iran's crude oil exports. US crude oil plunged 0.1% to 73.38 dollars a barrel. Brent was also down 0.1% to 77.79 dollars a barrel. Meanwhile, Reuters reported that India's oil ministry has asked refiners to prepare for a "drastic reduction or zero" of Iranian oil imports starting in November. Minister Dharmendra Pradhan said that India would take a call on its imports from Iran based on its own interests and not under pressure. </p> <p><strong> Gold Recovers </strong> </p> <p> Gold prices recovered from Rs 80 to Rs 31,650 per 10 grams Thursday on fresh purchases from local jewelers amidst a rupee of all time against the US dollar, reported PTI. Overall lobal gold prices edged up as recent developments in the US-China trade struggle led to a slight decline in the US dollar but were still near a trough of six months. </p> <p><strong> China opens up more economics to foreign investors </strong></p> <p> China has formalized the easing of restrictions on foreign investment in various sectors, from banks to banks and banks. The reform commission released Thursday an updated version of its so-called negative list, which describes the industries where foreign investment is restricted or prohibited. </p> <p><strong> Obtaining funds from banks <br /></strong><br /> <br /> The Minister of Road Transport and Highways, Nitin Gadkari, will meet today the biggest bankers in the country in Mumbai where he will present the performance of the highway sector these last four years. About twenty major bankers are likely to attend the meeting. The ministry is allocating highway projects requiring Rs 1 lakh crore of capital under the hybrid annuity model. Banks have been hesitant to invest in road projects since 2013-14 when projects worth about 4 million rupees were blocked. </p> <p><strong> POLITICS & MORE <br /></strong><br /> </p> <ul> <li> The CBI filed an indictment against two former CMDs of Canara Bank – Avinash Chander Mahajan and Sunder Rajan Raman – in connection with a alleged default of Rs 146 crore by Jatin Mehta of Winsome Diamonds. </li> <li> India is working on plans to allow gas company GAIL to separate its marketing activities and pipeline activities, without dismantling the company, Indian oil minister said Thursday. The government said in January that it wanted to split the company into two </li> <li> The powerful union representatives of Thyssenkrupp announced Thursday their support for a joint venture with Tata Steel, thus guaranteeing that the company would be able to take part in a joint venture. agreement will be approved by the group's supervisory board. . </li> <li> Misappropriation investigations at Fortis Healthcare revealed that transfers to entities related to former promoters were authorized by Malvinder Singh, the eldest of the two siblings who controlled the Fortis-Religare combination. </li> </ul> <p><strong> Best Videos </strong><br /> <strong> Hasmukh Adhia on 1 Year GST </p> <div data-type=



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& # 39; We are bearish on EM, slightly overweight on India & # 39;

FUNDAMENTAL PRINCIPLES

Longer-term bonds increased: Government bonds (G-Secs) further weakened under the effect of sustained selling pressure from the share of banks and companies. The 7.17% 10-year benchmark maturing in 2028 has risen from Rs 95.3550 to Rs 94.95, while its yield has risen from 7.87% to 7.94%. The 6.68% G-Secs maturing in 2031 went from Rs 89.00 to Rs 88.54, while their yield went from 8.04% to 8.11%.

Short Terms Bonds Down: The 6.84% G-Secs maturing in 2022 fall to 95.78 Rs against Rs 96.09, while their yield goes from 7.89% to 7.98%. The 7.59% G-Secs maturing in 2026, the 7.35% G-Secs maturing in 2024 and the 8.15% G-Secs maturing in 2022 were also below Rs 96.7975, Rs 96 , 47 and Rs 100.50 respectively.

Steady Call Rates : Day-to-day money rates held steady at their previous closing level of 6.05%, resumed at 6, 30% and evolved in a range of 6.30% and 6.00%.

Liquidity : The Reserve Bank of India, under the Liquidity Adjustment Facility, purchased securities valued at Rs 3,723 crores in 5 auctions at the takeover operation in board at a fixed rate of 6.25% Thursday. it sold securities worth Rs. 30,455 crore in 51 auctions at the day-to-day auction of securities at a fixed rate of 6.00% on June 27.

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