FACTORS TO WATCH
11:00 am: Monsoon session of parliament continues in New Delhi.
11:30 am: Communications Minister Manoj Sinha to attend an event in New Delhi.
GMF ASIA LIVECHAT - CRUDE FOCUS with Ekpen Omonbude, Economist, The Commonwealth
Is crude oil done with its bounce from the bottom and are we set to hit the lows again or is it just a correction in new bull market for the oil? To join the conversation at 1130 IST, click here
INDIA TOP NEWS
IndiGo might delay taking delivery of some Airbus A320neo planes
Indian budget airline IndiGo might have to delay taking delivery of more Airbus A320neo planes to allow Pratt & Whitney time to sort out engine problems, the carrier's owner said.
INTERVIEW-India's HDFC has appetite for more "masala" bond deals
India's Household Development Finance Corporation aims to raise more money via so-called "masala" bonds after making its debut issue last month and other Indian companies may follow, the bank's executives said.
RBI prevents industrial firms from setting up banks
The Reserve Bank of India said large industrial companies will only be allowed to invest up to 10 percent in banks, and thus, will not be allowed to set up lenders, according to final guidelines for banking licenses issued.
Central bank governor Raghuram Rajan wants monetary policy panel formed before he departs RBI
India should quickly put in place a monetary policy committee to institutionalise decision-making on interest rates and keep the focus on controlling inflation, outgoing Indian central bank governor Raghuram Rajan said.
ICICI Bank, Apollo to set up Indian asset reconstruction company
India's biggest private lender ICICI Bank Ltd and private equity firm Apollo Global Management LLC said they would set up an asset reconstruction company in India to buy into troubled loans held by banks.
GLOBAL TOP STORIES
After bruising China battle, Uber cedes to rival Didi
After a bruising two-year battle, ride-hailing firm Uber is selling its China operations to bigger local rival Didi Chuxing in a deal that will give Uber a one-fifth stake in Didi.
Trump campaign asks Capitol Hill to back him up in Khan controversy
U.S. Republican Donald Trump's presidential campaign appealed to Capitol Hill for support as his attacks on the Muslim parents of a decorated American soldier killed in Iraq drew sharp rebukes from fellow party members.
U.S. factory activity slips; construction spending hits 1-year low
U.S. manufacturing activity eased in July amid shrinking order backlogs and declining employment, while an unexpected drop in construction spending in June suggested second-quarter economic was probably even weaker than reported last week.
STATE OF THE MARKETS
The SGX Nifty Futures was trading at 8,675, down 0.16 pct from its previous close.
The Indian rupee will likely edge lower against the U.S. dollar, as trading in regional assets remains subdued ahead of central bank policy meetings.- NewsRise
Indian sovereign bonds will likely open little changed, amid absence of any new major trigger and after a sharp rally in recent days. However, underlying sentiment remains bullish amid comfortable cash position and expectations that the country's parliament may soon approve a key tax reform bill. The yield on the benchmark 7.59 pct bond maturing in 2026 is likely to trade in a 7.12 pct-7.16 pct band today.- NewsRise
The S&P 500 and the Dow closed slightly lower on Monday, as a drop in oil prices dragged down energy stocks, while tech names Apple and Alphabet helped lift the Nasdaq to its highest close in over a year.
Asian shares edged lower, taking their cues from a modestly lower day on Wall Street as U.S. crude oil prices slid.
The dollar hovered near three-week lows after soft U.S. economic data undermined the case for an early Federal Reserve rate hike while the Australian dollar braced for the probability of a policy easing later in the day.
U.S. Treasury yields rose on Monday from Friday's multi-week lows as Microsoft Corp launched the fifth largest corporate bond offering of all time, drawing appetite away from safe-haven U.S. government debt, and on profit-taking.
U.S. crude tumbled below $40 per barrel for the first time since April, as oil prices settled down nearly 4 percent on heightened worries of a crude glut despite peak summer fuel demand.
Gold was little changed, hovering just below the prior session's near three-week top as investors cut expectations for a U.S. interest rate hike in the near term.
CLOSE
FII INVESTMENTS
EQUITIES
DEBT
PNDF spot
66.74/66.77
August 1
$108.8 mln
$20.38 mln
10-yr bond yield
7.20 pct
Month-to-date
-
-
Year-to-date
$4.64 bln
-$1.07 bln
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