Morning News Call – India, November 7
Morning News Call - India, November 7
    Nov 7 (Reuters) - 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: Financial Stability and Development Council (FSDC) meeting in New Delhi.          GMF: LIVECHAT - BONDS UPDATE     Dhara Ranasinghe, Reuters senior European government bonds correspondent, discusses trends in European govvies at 5:00 pm IST. To join the conversation, click on the link:               INDIA TOP NEWS     • India approves $1.4 billion for fund to help stalled housing projects     India's cabinet has approved 100 billion rupees ($1.4 billion) for a fund to help clear stalled housing projects, Finance Minister Nirmala Sitharaman said late on Wednesday.     • China says RCEP trade deal could provide opportunities for India's exports     China on Wednesday sought to assure India over the Regional Comprehensive Economic Partnership (RCEP), saying the trade deal could provide many opportunities for India's exports.     • India seeks foreign investments in oil and gas sector - minister     India, the world's third-largest oil importer, wants more foreign investments in its oil and gas sector, oil minister Dharmendra Pradhan said on Wednesday, as the country takes steps to woo companies, including a recent cut in corporate taxes.     • Boeing says India will order 2,380 jets from planemakers over 20 years     Boeing forecast Indian airlines will order up to 2,380 planes from global planemakers over the next 20 years, 80 more than it predicted last year.      • Britain's AstraZeneca to distribute Sun Pharma cancer drugs in China Top Indian drugmaker Sun Pharmaceutical Industries Ltd said on Wednesday Britain's AstraZeneca would distribute some of Sun's cancer treatment drugs in China, the world's second-largest pharmaceutical market.      • India cabinet to review BPCL sale proposal next week - govt source     India's cabinet is expected to evaluate a proposal to sell the government's stake in state-run Bharat Petroleum next week, a government source said.               GLOBAL TOP NEWS     • U.S.-China trade deal signing could be delayed to December; London a possible venue-source     A meeting between U.S. President Donald Trump and Chinese President Xi Jinping to sign a long-awaited interim trade deal could be delayed until December as discussions continue over terms and venue, a senior official of the Trump administration told Reuters on Wednesday.     • SoftBank's Son admits mistakes after Vision Fund's $8.9 billion loss     SoftBank plunged to its first quarterly loss in 14 years on Wednesday, dragged down by an $8.9 billion hit at its giant Vision Fund, as CEO Masayoshi Son admitted poor investment judgment and turning a blind eye to problems at startup WeWork.     • Xerox in $33 billion bid for HP -sources     U.S. printer maker Xerox Holdings Corp has made a roughly $33 billion cash-and-stock offer for personal computer maker HP Inc, a company more than three times its size, people familiar with the matter said on Wednesday.               LOCAL MARKETS OUTLOOK     (As reported by NewsRise)     • SGX Nifty nearest-month futures were little changed at 12,016.50.     • The Indian rupee is expected to open lower against the dollar, tracking losses on the Chinese yuan and other Asian currencies following reports that signing of the U.S.-China interim trade deal could be delayed until next month.     • Indian government bonds are likely to open higher, as traders expect further purchases by foreign investors. The yield on the benchmark 6.45% bond maturing in 2029 is likely to trade in a range of 6.45%-6.50%.               GLOBAL MARKETS     • U.S. stocks ended little changed on Wednesday as a report the U.S.-China trade deal could be delayed until December was offset by gains in healthcare shares.     • Asian shares managed to cling near multi-month peaks while bonds eked out a bounce as reports of delays in sealing a preliminary Sino-U.S. trade deal left investors frustrated at the lack of concrete progress.     • The dollar inched lower against the yen as lingering doubts about when the United States and China will sign a preliminary trade deal discouraged traders from taking big positions.     • U.S. Treasury prices gained on Wednesday on a report that a U.S.-China meeting to sign a trade deal could be delayed until December, while some investors also repositioned after a three-day sell-off.     • Oil prices were unchanged, holding on to most of their losses from the previous session, on worries that a long-awaited interim deal to dial back a crippling U.S.-China trade war could be delayed.     • Worries that a long-awaited trade deal between the United States and China could be delayed until December made investors cautious, keeping gold prices steady.                              CLOSE        FII INVESTMENTS  EQUITIES      DEBT  PNDF spot         70.95/70.98  November 6       398.99 crore  221.69 crore  10-yr bond yield  6.54%        Month-to-date    4,277 crore   3,972 crore                                 Year-to-date     72,830 crore  36,828 crore       (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 = 71.00 Indian rupees)   (Compiled by Nayyar Rasheed in Bengaluru)   
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