Morning News Call – India, November 11

(Morning News Call – India edition will not be published on Tuesday, November 12
as markets are closed for Guru Nanak Jayanti)

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FACTORS TO WATCH
• 10:00 am: IBBI Chairman M.S. Sahoo at CII’s National Conference on
Resolving Insolvency in India, in New Delhi.
• 5:30 pm: Government to release September industrial production data in New
Delhi.

GMF: LIVECHAT – MARKETS FOCUS
Reuters EMEA Markets Editor Mike Dolan analyses the state of European
markets at 3:30 pm. To join the conversation, click on the link: refini.tv/2P8N0Wp

INDIA TOP NEWS
• India detains users over inflammatory online posts after religious site
ruling
Dozens of people in India have been detained on suspicion of publishing
inflammatory social media posts and setting off celebratory firecrackers after
the Supreme Court ruled to give a disputed religious site to Hindus, police said
on Sunday.
• A dozen dead, fishermen missing after cyclone Bulbul lashes Bangladesh and
India
At least 13 people were killed in Bangladesh and India after cyclone Bulbul
lashed coastal areas this weekend, though prompt evacuations saved many lives
and the worst was over, officials said on Sunday.
• Indian WhatsApp users ask govt to explain ties with Israeli firm in
privacy breach case
A group of Indians including journalists and lawyers whose phones were
hacked via Facebook’s WhatsApp messaging platform asked the government on
Friday to make public its ties with the Israeli firm accused of deploying the
spyware.
• India’s cotton output set to rise, exports to remain steady -trade body
India’s cotton production in 2019/20 is likely to jump 13.6% due to a bigger
cultivated area and a boost to yields from above-average monsoon rains, a
leading trade body forecast on Friday.
• Mahindra and Mahindra’s Q2 profit slips 27% as Indian auto slowdown
lingers
Mahindra and Mahindra Ltd on Friday reported a 26.5% drop in
quarterly net profit as the company struggled to sell cars, trucks and tractors
amid a slowdown in Asia’s third-largest economy.
• India’s bad debt pile eased by write-offs, underlying problem far from
resolved
Indian banks wrote off more than $30 billion worth of bad debt in the year
to June 30, helping to lower stressed loans on their books by 8.5%, according to
central bank data reviewed by Reuters.
• India’s inflation probably breached central bank target last month –
Reuters Poll
Indian retail inflation probably exceeded the Reserve Bank of India’s
medium-term target of 4% in October for the first time in 15 months, mainly
because of rising vegetable prices, a Reuters poll of economists showed.

• Suzuki rethinks promise of India’s auto market, and it is not alone
Suzuki Motor Corp said it was no longer gung-ho about India’s auto
market, the world’s fourth-largest, where it has seen relentless growth in the
past seven years. And the parent of the country’s biggest car maker is not
alone.

GLOBAL TOP NEWS
• ‘Pam, pam, pam’: Hong Kong police open fire, wounding protester
Hong Kong police opened fire and hit at least one protester, witnesses and
media reports said, as chaos erupted across the city a day after officers fired
tear gas to break up demonstrations that are entering their sixth month.

• Bolivia’s Morales resigns after protests, lashes out at ‘coup
Bolivian President Evo Morales said on Sunday he would resign to ease
violence that has gripped the South American nation since a disputed election
last month, but he stoked fears of further unrest by saying he was the victim of
a “coup” and faced arrest.
• Alibaba Singles’ Day sales hit $23 billion in first nine hours
Chinese e-commerce giant Alibaba Group Holding Inc said sales for
its annual Singles’ Day shopping blitz hit 158.31 billion yuan ($22.63 billion)
in its first nine hours, up 25% from 126.72 billion yuan at the same point last
year.

LOCAL MARKETS OUTLOOK
(As reported by NewsRise)
• SGX Nifty nearest-month futures were 0.3% lower at 11,915.50.
• The Indian rupee is expected to extend its losses against the dollar amid
a broad decline in Asian currencies on weak risk appetite.
• Indian government bonds are expected to open lower in early session, as
state debt sale will add to supply in the market. The yield on the benchmark
6.45% bond maturing in 2029 is likely to trade in a range of 6.54%-6.60%.

GLOBAL MARKETS
• The three major U.S. stock indexes posted record closing highs and the S&P
500 registered a fifth straight week of gains on Friday as investors brushed
aside worries over the progress of U.S.-China trade talks and as Walt Disney
shares rose.
• Asian shares reversed gains as fresh violence broke out in Hong Kong,
while uncertainty still remained over whether the United States and China could
end their damaging trade war.
• The dollar held near multi-week highs amid optimism that the United States
and China would roll back tariffs that have hurt global growth.
• U.S. Treasury yields held just below three-month highs on Friday as
investors evaluated the likelihood that the United States and China would reach
a deal to roll back tariffs, as officials made contradictory statements on the
issue.
• Oil prices fell on renewed caution over the prospects of a trade deal
between the United States and China, with investors shrugging off comments over
the weekend by U.S. President Donald Trump that talks were going well.
• Gold prices edged up, as mixed signals from U.S.- China trade talks kept
investors cautious, although disappointing China factory data provided support.

CLOSE FII INVESTMENTS EQUITIES DEBT
PNDF spot 71.26/71.29 November 8 894.84 crore (1,041.71)
crore
10-yr bond yield 6.51% Month-to-date 6,434 crore 5,674 crore
Year-to-date 74,987 crore 38,530 crore

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 = 71.35 Indian rupees)

(Compiled by Nayyar Rasheed in Bengaluru)

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