Morning News Call - India, October 20



To access a PDF version of this newsletter, please click here Link

If you would like to receive this newsletter via email, please register at: Link

FACTORS TO WATCH

9:30 am: Mastek management at Q2 results analyst call.

10:00 am: Health Secretary Rajesh Bhushan, Niti Aayog Member V.K. Paul at FICCI webinar on healthcare.

12:00 pm: Rallis India management at Q2 results analyst call.

3:30 pm: Commerce Ministry Additional Secretary - Logistics Amrit Lal Meena at industry body CII webinar on logistics.

5:00 pm: Jubilant FoodWorks management at Q2 results analyst call.

5:15 pm: Road Transport Minister Nitin Gadkari at FICCI event in New Delhi.

6:00 pm: Prime Minister Narendra Modi to interact with industry heads and experts of oil and gas sector via video conference.

PROMOTION

LIVECHAT-REUTERS GLOBAL MARKETS FORUM

Reuters markets correspondents in London and New Yorkdiscuss what's driving equity markets and what to look out for. To join the conversation at 7:30 pm IST, click here Link

INDIA TOP NEWS

• India delays COVID-19 vaccine supplies to WHO-backed COVAX, sources say

India has delayed committing supplies of vaccine to the COVAX global sharing platform, two sources told Reuters on Tuesday, a day after one of its key backers, the WHO, said the agency could not "cut corners" to approve a domestically developed vaccine.

• Surge in onion prices adds another layer of pain for India’s consumers

After the cost of fuel and edible oils hit record highs, Indian consumers are likely to be further squeezed by a rally in onion prices after heavy rainfall in the country's key growing regions damaged the summer-sown crop and delayed winter crop planting.

• Reliance buys 52% of top Indian fashion label in luxury bet

The retail unit of Indian conglomerate Reliance Industries has acquired a 52% stake in popular designer labels of Ritu Kumar, the company said on Tuesday, in the latest bet on the country's fast-expanding luxury designer market.

• Challenges abound as Tata draws up a flight plan for Air India

Tata Sons' $2.4 billion purchase of debt-ridden, government-owned Air India will give the conglomerate immediate access to valuable flying rights and landing slots that will help it claw back market share from foreign rivals.

• India plans refiners' joint oil deals to cut import bill

India is forming a group that brings together state-run and private refiners to seek better crude import deals, oil secretary Tarun Kapoor said on Tuesday, as the country grapples with soaring oil prices.

• India aluminium producers draw costly power from grid, hurting utilities low on coal

India's aluminium producers are drawing expensive power from the national grid, adding to pressure on utilities with low coal stocks as state-run Coal India curbs supplies, the Aluminium Association of India (AAI) told Reuters.

• Indian banks face rise in bad loans to 8-9% of lending -CRISIL

Indian banks are likely to see a rise in gross non-performing assets (NPA) to 8-9% of total lending at the end of this fiscal year from 7.5% last year, rating agency CRISIL said in a report on Tuesday.

• Top executives of SoftBank-backed Ola to exit ahead of potential IPO

SoftBank Group-backed Indian ride-hailing firm Ola is set to lose two top executives, according to an internal memo seen by Reuters, ahead of a potential $1 billion initial public offering.

GLOBAL TOP NEWS

• China's new home prices stall amid crackdown on speculation

China's new home prices stalled for the first time since February 2020 in September, official data showed, as the chill in the property market intensified amid a sustained crackdown on speculative investment.

• U.S. futures-based bitcoin ETF rises in first day of trading, bitcoin nears record

The first U.S. bitcoin futures-based exchange-traded fund began trading on Tuesday, sending bitcoin to a six-month high and just off its all-time peak, as traders bet the ETF could boost investment flows into cryptocurrencies.

• Global 'Squid Game' mania lifts Netflix quarter

Netflix's global sensation "Squid Game" helped lure more new customers than expected, the world's largest streaming service said on Tuesday as it predicted a packed lineup would further boost signups through the end of the year.

LOCAL MARKETS OUTLOOK

(As reported by NewsRise)

• SGX Nifty nearest-month futures were trading 0.1% higher at 18,450.00.

• The Indian rupee is expected to strengthen against the U.S. currency tracking a further pullback on the dollar amid positive risk appetite.

• India's federal government bond yields are likely to rise in early trade tracking U.S. Treasury yields. The yield on India's benchmark 6.10% bond maturing in 2031 is likely to trade in a 6.37%-6.42% band.

GLOBAL MARKETS

• U.S. stock indexes closed higher on Tuesday with the biggest boosts from the technology and healthcare sectors as investors appeared to bet on solid quarterly reports even as some worried that it was too early to celebrate.

• Asian shares advanced and U.S. long-dated bond yields edged up to a five-month high on rising optimism about the global economy and corporate earnings while the yen slipped to a four-year low on the dollar.

• U.S. bonds drove currencies, with a rise in long-term rates pushing the dollar to an almost four-year high on the yen, but a decline in shorter-dated yields putting it on the back foot against most other major peers.

• The U.S. Treasury yield curve widened on Tuesday, as investors unwound flattening moves of the last few sessions after global central banks dampened expectations of near-term tightening that spilled over to the world's largest bond market.

• Oil prices turned down after the Chinese government flagged it was looking for ways to tame record high coal prices and that it would ensure coal mines operate at full capacity as Beijing moved to ease a power shortage.

• Gold prices edged lower as surging U.S. bond yields dented the metal's appeal and bets for upbeat corporate earnings lifted risk-on sentiment.

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 = 75.12 Indian rupees) (Compiled by Benny Thomas in Bengaluru)

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。

所有缐上交易平台所發佈的資料,僅適用於教育/資訊類用途,不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議,或是交易價格紀錄,或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。

本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。

風險提示: 您的資金存在風險。杠杆商品可能不適合所有客戶。 請詳細閱讀我們的風險聲明