Connect with us

The WestSide411

Morning News Call – India, July 17 – Reuters India


Uncategorized

Morning News Call – India, July 17 – Reuters India

To access a PDF version of this newsletter, please click here here If you would like to receive this newsletter via email, please register at: here FACTORS TO WATCH 11:00 am: RBI Executive Director M. Rajeshwar Rao and IBA Chairman Sunil Mehta at ASSOCHAM’s webinar. 5:00 pm: NITI Aayog Senior Advisor Anna Roy at FICCI’s…

Morning News Call – India, July 17 – Reuters India
To access a PDF version of this newsletter, please click here here
    
    If you would like to receive this newsletter via email, please register at:
here
    
    
    FACTORS TO WATCH
    11:00 am: RBI Executive Director M. Rajeshwar Rao and IBA Chairman Sunil
Mehta at ASSOCHAM’s webinar.
5:00 pm: NITI Aayog Senior Advisor Anna Roy at FICCI’s “Global Youth
Entrepreneurship & Industry Connect.”
5:00 pm: RBI to release weekly foreign exchange data in Mumbai.   
    
    
    INDIA TOP NEWS
    • Reliance's stake sale talks with Aramco stall over price, sources say
Talks over the sale of a 20% stake in Reliance Industries' oil-to-chemical
business to Saudi Aramco have stalled over price, four sources familiar with the
matter said.
• India coronavirus cases near one million, driven by surge in rural areas
The number of coronavirus cases in India neared one million on Thursday as
infection numbers rose in the countryside, pushing authorities to reinstate
lockdowns across several states.
• India says needs to verify troop disengagement with China
India and China are making progress on ending a months-long military faceoff at
their disputed Himalayan border but it is a complicated process and needs
verification on the ground, the Indian army said on Thursday.
• India, U.S. discuss possibility of free trade pact - India trade minister
India and the United States on Thursday discussed the "possibility" of a free
trade pact, India's Commerce and Industry Ministry said in a statement.

• Amazon India demands product listings have country of origin by Aug 10
Amazon.com's India unit has told sellers they must provide country of origin
information on product listings by August 10, according to an email sent by the
e-commerce giant to sellers, against a backdrop of brewing anti-China sentiment.

• Alibaba's UCWeb lays off India staff, Club Factory halts payments after app
ban
Alibaba's subsidiary UC Web is slashing staff in India after a ban on 59
Chinese-origin mobile apps that includes UC Web's browser and two other
products, according to staff and a company letter seen by Reuters.
• State-run Air India working to contain costs
State-run airline Air India said on Thursday it was working to contain costs by
reducing debt, aircraft lease rentals, as well as staffing and operating
expenses.
• India's electricity output recovers faster in first half of July
India's electricity generation during the first half of July fell at a slower
pace than in June, provisional government data showed, as industries and
commercial establishments gradually opened up with the easing of coronavirus
lockdowns.
    
    
    GLOBAL TOP NEWS
    • U.S. targets all Chinese Communist Party members for possible travel ban
-source
The Trump administration is considering banning travel to the United States by
all members of the Chinese Communist Party and their families, a person familiar
with the matter said on Thursday, a move that would worsen already tense
U.S.-China relations.
• U.S. shatters coronavirus record with over 77,000 cases in a day
The United States shattered its daily record for coronavirus infections on
Thursday, reporting more than 77,000 new cases as the number of deaths in a
24-hour period rose by nearly 1,000, according to a Reuters tally.
• Twitter stepped up search to fill top security job ahead of hack
Twitter had stepped up its search for a chief information security officer in
recent weeks, two people familiar with the effort told Reuters, before the
breach of high-profile accounts on Wednesday raised alarms about the platform's
security.
   
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • SGX Nifty nearest-month futures were 0.8% higher at 10,781.50.
• The Indian rupee is expected to trade little changed against the dollar as
market participants focus on mixed U.S. data and coronavirus infection trends.
• India bond yields are likely to edge higher in early trade, ahead of a weekly
debt auction today. The yield on the benchmark 5.79% bond maturing in 2030 is
likely to trade in a range of 5.80%-5.85%.
    
    
    GLOBAL MARKETS
    • The S&P 500 dropped on Thursday, pulled lower by Microsoft and Apple, as
elevated levels of unemployment claims heightened concerns about the economic
toll from rising coronavirus cases.
    • Asian shares eked out gains and U.S. stock futures bounced back as hopes
of more government spending around the globe suppressed concerns about rising
coronavirus and worsening tensions between Washington and Beijing.
    • The dollar held onto gains against most currencies as worries that a
resurgence in the coronavirus is starting to curb economic activity drew
safe-haven flows into the U.S. currency.
    • U.S. Treasury yields fell on Thursday as the rapid spread of coronavirus
cases across some American states weighed on risk sentiment, even as data showed
U.S. economic improvement.
    • Oil prices were unchanged with trading marked by growing uncertainty about
global recovery in fuel demand as new COVID-19 cases surge in several countries
just as major producers get set to loosen production curbs.
    • Gold steadied near the $1,800 level after a sharp fall in the previous
session, as worries over surging coronavirus cases and U.S.-China tensions
underpinned its safe-haven appeal, although a stronger dollar capped
gains.
      
                   CLOSE        FII INVESTMENTS  EQUITIES         DEBT
 PNDF spot         75.14/75.17  July 16          (34.97) crores   (581.52) crores
 10-yr bond yield  5.81%        Month-to-date    (4,855) crores   806 crores
                                Year-to-date     (23,368) crores  (1,06,153) crores
 (FII investment numbers are in Indian rupees. Source: National Securities
Depository Limited)
    
    
    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 = 75.17 Indian rupees)
    

 (Compiled by Siddharth Athreya V in Bengaluru)
  

About The Historic WestSide

Help us tell more of the stories that matter

Become a Content Contributor Today!

Subscribe to get the WestSide411

We hate SPAM and promise to keep your email address safe

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

To Top