TUESDAY, NOVEMBER 15, 2016
FACTORS TO WATCH
9:00 am: RBI Deputy Governor N.S. Vishwanathan and Transport Minister Nitin Gadkari at ASSOCHAM Infrastructure finance summit in Mumbai.
12:00 pm: Government to release October wholesale price inflation data in New Delhi.
5:30 pm: Government to release October consumer price inflation data in New Delhi.
LIVECHAT - CHINA ECONOMICS with Louis Kuijs
Louis Kuijs, Head of Asia Economics at Oxford Economics, talks about the impact from the U.S. presidential election on China trade and currency at 10.00 am. To join the Global Markets Forum, click here
INDIA TOP NEWS
Tata Motors' independent directors give Chairman Mistry tacit nod
The independent directors of Tata Motors gave board Chairman Cyrus Mistry a tacit nod on Monday, but stopped short of an outright endorsement, or picking sides in the power struggle within India's largest conglomerate.
India's Tata Motors quarterly profit falls short of estimates
India's Tata Motors Ltd on Monday posted a quarterly net profit but missed estimates due to higher realised hedging losses and a one-time provision at its British luxury unit Jaguar Land Rover, the company said in a statement.
India cenbank sets up panel to oversee ATM recalibrations
India's central bank said on Monday it will set up a task force under Deputy Governor SS Mundra to oversee the recalibration of ATM machines after the country introduced new banknotes to replace old 500 rupee and 1,000 rupee notes.
Standard Life's Indian deal faces opposition by local regulators
British insurer Standard Life said on Monday that India's insurance watchdog had "expressed reservations" in accepting the current deal terms for the purchase by its Indian joint venture of Max Life Insurance.
India raises cap on bank cash withdrawal to ease public anger
India's government increased the limit on cash withdrawals from bank accounts on Sunday to calm public anger as millions of people clamored for new rupee bills after a shock abolishment of large denomination notes.
Action on banknotes provides a boon to struggling Indian lenders
India's withdrawal of larger banknotes from circulation is sparking a surge in cash deposits and raising hopes the added liquidity will allow banks to lower lending rates more aggressively.
EU warns on lapse of investment protection deals with India
A top European Union official sounded the alarm on Friday that efforts to revive talks on a trade deal with India could be derailed by the imminent expiry of several bilateral investment protection deals with its member states.
Indian satellite TV operators Dish and Videocon d2h to merge
Indian satellite TV operator Dish TV India Ltd said on Friday it planned to merge with rival Videocon d2h Ltd to create a new company with net subscribers of 27.6 million, strengthening its lead in India's fast-growing direct-to-home (DTH) operator market.
Japan to supply India with nuclear power equipment, technology
Japan and India signed a civilian nuclear accord on Friday, opening the door for Tokyo to supply New Delhi with fuel, equipment and technology for nuclear power production, as India looks to atomic energy to sustain its rapid economic growth.
GLOBAL TOP STORIES
Trump will get wake-up call when he takes office, Obama says
President-elect Donald Trump is in for a quick wake-up call and will have to adjust his temperament when he confronts the realities of his new job on Jan. 20, President Barack Obama said on Monday.
Reynolds American rejects BAT's $47 billion takeover offer - source
U.S. cigarette maker Reynolds American Inc is seeking a higher price from British American Tobacco Plc after rejecting its $47 billion takeover offer, a source familiar with the situation told Reuters.
New Zealand begins evacuating tourists from quake-hit town
New Zealand emergency services and defence personnel began evacuating hundreds of tourists and residents from the South Island town of Kaikoura on Tuesday, a day after a powerful earthquake hit the region, killing two people.
STATE OF THE MARKETS
The SGX Nifty Futures was at 8,267.00, up 0.75 pct from its previous close.
The Indian rupee will likely open lower against the dollar, as the greenback hovered near multi-month highs, tracking sustained gains in U.S. bond yields amid expectations President-elect Donald Trump's policies may stoke inflation in the world's largest economy. -Newsrise
Indian government bonds will likely open steady to lower, as a slump in U.S. Treasuries continues, while investors await local inflation data later today for cues.The yield on the benchmark 6.97 pct bond maturing in 2026 is likely to trade in a 6.69 pct-6.75 pct band. - Newsrise
U.S. stocks closed little changed on Monday after rising dramatically the week before and a decline in the technology sector offset a steep rise in financial stocks as investors bet on higher interest rates.
The U.S. dollar scaled an eleven-month peak and Treasury yields extended their rise as investors braced for higher inflation in the United States amid expectations of fiscally expansionary polices under Donald Trump's presidency.
The dollar is closing in on a test of its highest level in almost 14 years as bond yields soared after Donald Trump's election to President, bringing buyers back to the U.S. currency.
The bond market sell-off resumed on Monday on the heels of the worst week for U.S. Treasuries in more than seven years, on growing worries that inflation will resurge under the policies of President-elect Donald Trump.
U.S. oil prices rose to move away from a nearly two-month low struck the day before, pushed higher by expectations of falling shale output and renewed optimism that OPEC will deliver on touted production cuts.
Gold edged up on Tuesday as bargain-hunters were tempted to buy after the metal hit its lowest in 5-1/2 months the session before.
CLOSE
FII INVESTMENTS
EQUITIES
DEBT
PNDF spot
67.54/67.57
November 11
$220.73 mln
-$214.13 mln
10-yr bond yield
6.91 pct
Month-to-date
-$345.76 mln$831.87 mln
Year-to-date
$6.42 bln-$216.49 mln
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