Morning News Call - India, June 17 - EntornoInteligente / 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 No major events are scheduled for the day. LIVECHAT – COMMODITIES FOCUS Clyde Russell, Reuters Asia commodities and energy columnist, joins us to discuss crude oil and metals markets, and all the cues to watch at 9:30 am IST. To join the conversation, click on the link: INDIA TOP NEWS • India to impose retaliatory tariffs on 28 U.S. goods from Sunday India will impose higher retaliatory tariffs on 28 U.S. products including almonds, apples and walnuts from Sunday, following Washington’s withdrawal of key trade privileges for New Delhi. • WeWork considers $1.9 bln offer for 70% stake in Indian affiliate -Bloomberg Shared office space manager WeWork is exploring a deal to take majority control of its affiliate WeWork India ahead of the New York-based company’s plans to go public, Bloomberg reported on Thursday, citing people familiar with the matter. • Walmart’s Flipkart, Indian startup settle dispute over sharp discounting Walmart unit Flipkart has settled a legal dispute with an Indian startup that alleged it suffered losses because its products were sharply discounted on the global retailer’s website. • Indian regulator bars news channel NDTV from accessing capital markets India’s market regulator barred the founders of news television channel New Delhi Television (NDTV) from the country’s capital markets for the next two years. • India’s Greaves Cotton to set up charging hubs for electric scooters Engine maker Greaves Cotton, which launched its first heavyweight electric scooter last month, plans to set up at least 100 charging stations for two-wheelers across India in the next three months, as the government pushes for more electric vehicles to combat rising pollution. • India minister says confident airline capacity problems will be solved India’s new civil aviation minister said he is confident that airline capacity shortage problems following the grounding of Jet Airways will be solved, in the government’s first comments about the issue since it was re-elected last month. GLOBAL TOP NEWS • Pressure builds on Hong Kong leader with democracy activist set to leave jail Hong Kong’s political crisis enters its second week as uncertainty grows over the fate of government leader Carrie Lam and the extradition bill she postponed at the weekend. • Taking aim at Johnson, British PM hopefuls make their Brexit case Several hopefuls vying to replace British Prime Minister Theresa May turned their fire on favourite Boris Johnson on Sunday, questioning his pledge to leave the European Union by the end of October no matter what. • Blast-hit tankers to be assessed off UAE coast The two oil tankers crippled in attacks in the Gulf of Oman last week that Washington and Riyadh have blamed on Iran are being assessed off the coast off the United Arab Emirates before their cargos are unloaded, the ships’ operators said on Sunday. LOCAL MARKETS OUTLOOK • SGX Nifty nearest-month futures were 0.11% lower at 11,817.50. • The Indian rupee is expected to open lower against the dollar following better-than-expected U.S. retail sales data, which prompted the dollar index’s biggest jump in three months. -NewsRise • Indian government bonds are expected to trade lower in early session, amid profit booking after crude oil prices rose for a third session today, while the market awaits the government’s biggest debt switch for this year. The yield on the benchmark 7.26% bond maturing in 2029 is likely to trade in a range of 6.90% -6.97% today. -NewsRise GLOBAL MARKETS • U.S. stocks ended lower on Friday as investors were cautious going into next week’s Federal Reserve meeting, while a warning from Broadcom of a broad weakening in global demand weighed on chipmakers and added to U.S.-China trade worries. • Asian shares got off to a shaky start as investors were cautious ahead of a closely-watched Federal Reserve meeting, while political tensions in the Middle East and Hong Kong kept risk-appetite in check. • The dollar hovered near a two-week high, as strong U.S. retail sales data tempered some of the fears about a sharp downturn in the world’s largest economy. • Short-dated U.S. Treasury yields rose on Friday, flattening the yield curve, after solid data subdued investor fears of rapid economic decline in the second quarter and decreased expectations the Federal Reserve would cut rates at its meeting next week. • Oil prices rose after U.S. Secretary of State Mike Pompeo said Washington will take all actions necessary to guarantee safe navigation in the Middle East, as tensions mounted following attacks on tankers last week. • Gold prices edged away from a 14-month peak hit in the previous session, with the dollar gaining after encouraging U.S. retail sales data tempered fears about a sharp downturn in the world’s largest economy. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 69.70/69.73 June 14 -$34.23 mln -$425. 36 mln 10-yr bond yield 6.92% Month-to-date $74.88 mln $471.57 mln Year-to-date $11.26 bln -$1.66 bln 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 = 69.8132 Indian rupees) (Compiled by Lisa Mattackal in Bengaluru)


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