| WEDNESDAY, NOVEMBER 16, 2016
FACTORS TO WATCH
11:00 am: Winter session of parliament begins in New Delhi.
3:00 pm: Prime Minister Narendra Modi and Information & Broadcasting Minister Venkaiah Naidu at Press council of India event in New Delhi.
LIVECHAT - JAPAN MONETARY POLICY with Sayuri Shirai
Even as Governor Haruhiku Kuroda has pushed back the timing to achieve Bank of Japan's 2-percent inflation target, the potential of further monetary easing by the central bank continues to draw market attention. Sayuri Shirai, former Bank of Japan board member and current Asian Development Bank visiting researcher discusses the possibilities for the BOJ to change tactics in the wake of the U.S.presidential election and ahead of possible Fed action in its last meeting of 2016 at 12.00 pm. To join the Global Markets Forum, click here
INDIA TOP NEWS
India's cooling retail inflation bolsters rate cut hopes
India's retail inflation eased for a third straight month in October, helped by smaller rises in food prices, boosting the chances of an interest rate cut by the central bank next month.
Tata Global Beverages ousts Cyrus Mistry as chairman
The board of Tata Global Beverages, which co-owns and runs Starbucks coffee stores across India, has replaced Cyrus Mistry as its chairman, the first Tata group company to depose him since his removal last month from the helm of parent holding company Tata Sons.
Vodafone takes $5 billion charge against new price war in India
Mobile telecoms group Vodafone reported a first-half net loss of 5 billion euros on Tuesday after writing down the value of its Indian business by the same amount due to the start of a price war sparked by a powerful new rival. Tata Motors shares plunge on weak earnings at Jaguar Land Rover
Tata Motors shares skidded on Tuesday after second-quarter profit missed estimates by a wide margin due to a weak performance at its Jaguar Land Rover unit, although analysts said they expect earnings to improve in the months ahead.
India to use indelible ink to ensure people change cash only once
Indian banks will use indelible ink to ensure that people only change old notes for new ones once under Prime Minister Narendra Modi's scheme to fight "black money", resorting to a tactic used to prevent multiple voting in elections. Egyptian cotton concerns tip Welspun India into loss
Welspun India said it had acted to address concerns over the quality of its Egyptian cotton as the departure of two major U.S. customers over the issue led to a quarterly loss.
India's Reliance Group, Cisco Jasper partner for technology venture
India's Reliance Group, controlled by billionaire Anil Ambani, has partnered with Cisco Jasper to launch a venture to provide enterprises with internet of things solutions in the country, the companies said in a statement on Tuesday.
GLOBAL TOP STORIES
Trump rewards loyalty, considers economic picks as he molds Cabinet
President-elect Donald Trump closed in on naming two early Wall Street backers to key economic positions but jettisoned a national security expert from his transition team on Tuesday, a sign of the premium he places on loyalty as he confronts the task of building his administration.
Disputed memo says Britain has no Brexit plan
Britain has no overall strategy for leaving the European Union and splits in Prime Minister Theresa May's cabinet could delay a clear negotiating position for six months, according to a leaked Deloitte memo that the government dismissed as having no credibility.
EU regulators seen clearing $25 billion Abbott, St Jude deal -source
EU antitrust regulators are expected to give conditional clearance to U.S. medical device maker Abbott Laboratories' $25 billion bid for rival St. Jude Medical Inc, a person familiar with the matter said on Tuesday.
STATE OF THE MARKETS
The SGX Nifty Futures were at 8,204.50, up 1.10 pct from its previous close.
The Indian rupee will likely open little changed to higher against the dollar, mirroring gains across other Asian currencies, as a global bond rout and the recent rally in the greenback paused. -Newsrise
Indian sovereign bonds will likely continue their uptrend, as the banking system is awash with cash following the government's demonetisation scheme, while a deceleration in consumer inflation spurs bets of a policy rate cut. The yield on the benchmark 6.97 pct bond maturing in 2026 is likely to trade in a 6.48 pct-6.55 pct band. - Newsrise
U.S. stocks rose on Tuesday, with the Dow registering its fourth consecutive record high close as tech stocks rebounded from a post-election battering and energy stocks were boosted by a sharp rise in oil prices.
Asian shares won the reprieve from a rally in Wall Street shares as the sell-off in global bonds and sharp gains in the dollar paused for now.
The dollar stood near an 11-month high against a basket of currencies, after upbeat U.S. data gave the greenback's week-long rally fresh impetus.
U.S. 30-year Treasuries rose on Tuesday, after falling five straight sessions as investors took a breather selling government debt in the wake of a higher inflation outlook under the administration of President-elect Donald Trump.
Oil futures fell after an industry report showed an unexpected build in U.S. crude stocks, paring some of their gains of nearly 6 percent from the session before.
Gold prices were little changed after snapping a three-session losing streak the day before, with markets focusing on the impact of U.S. president-elect Donald Trump's economic policies.
| CLOSE | FII INVESTMENTS | EQUITIES | DEBT
| | PNDF spot | 67.74/67.77 | November 15
| -$213.69 mln
| -$307.94 mln | | 10-yr bond yield | 6.71 pct
| Month-to-date | -$559.45 mln | $523.93 mln | | | Year-to-date | $6.20 bln | -$524.43 mln |
PICTURE OF THE DAY
A man walks through a garden on an autumn day in Srinagar, India November 15, 2016. REUTERS/Danish Ismail
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