MORNING NEWS CALL

FACTORS TO WATCH 10:30 am: Federal cabinet likely to meet in New Delhi. 11:30 am: Junior Finance Minister Santosh Kumar Gangwar at an event in New Delhi. 12:00 pm: Tejas Networks IPO roadshow in Mumbai. 2:00 pm: Farm Minister Radha Mohan Singh at an event in New Delhi. 2:30 pm: RBI releases Monetary Policy Committee statement in Mumbai. 3:45 pm: Joint Secretary (Transport) Abhay Damle at an event in New Delhi. LIVECHAT - COMMODITIES FOCUS Clyde Russell, Reuters Asia commodities and energy columnist, will give us a walkthrough on the latest moves and outlooks of major commodity prices at 9:30 am IST. To join the conversation, click here INDIA TOP NEWS India seen holding rates steady, RBI expected to sound less hawkish India's central bank will likely strike a less hawkish tone while leaving interest rates unchanged at a policy meeting on Wednesday, according to analysts, as inflation is running well below forecasts, and the economy has slowed more than expected. India sees 2017 monsoon rains at 98 percent of long-term average India's crucial monsoon rains are expected to reach 98 percent of the long-term average this year, the state-run weather office said on Tuesday, 2 percentage points higher than its previous forecast, potentially boosting farm incomes and economic growth. EXCLUSIVE - Regulator wants medical devices added to price control list, document shows India's drug-pricing regulator has asked the health ministry to add four more medical devices to a list of products eligible for price controls to reduce costs to patients, which if agreed could be another blow to the country's $5 billion-a-year medical-technology industry. India Grid Trust shares fall on market debut after $350 million IPO India Grid Trust's shares fell as much as 6.3 percent on their debut on Tuesday, clouding the listing prospect for other infrastructure investment funds after raising $349.68 million in an initial public offering. National Stock Exchange aims to settle unfair access probe with regulator -sources India's National Stock Exchange is talking with the market regulator to settle any issues and accept a penalty tied to the disclosure that some brokers may have been given unfair access to NSE servers, two sources familiar with the matter said. GLOBAL TOP STORIES Trump takes sides in Arab rift, suggests support for isolation of Qatar U.S. President Donald Trump took sides in a deep rift in the Arab world on Tuesday, praising Middle East countries' actions against American ally Qatar over Islamist militants even though the tiny Gulf state hosts the largest U.S. air base in the region. UK police name third London attacker, Italy says was flagged in advance Police on Tuesday named the third of the jihadis who killed seven people in a knife and van attack in London, someone an Italian prosecutor said had been flagged to British authorities as a potential risk after he moved to England last year. Trump seeks legislative wins to cast off shadow of Russia probes President Donald Trump pressed Republican congressional leaders on Tuesday to complete their overhaul of the U.S. healthcare system as lawmakers said they were making progress on a contentious effort that threatens to overwhelm their legislative agenda.

REUTERS INDIA EDITION Wednesday, June 7, 2017

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MORNING NEWS CALL - INDIA EDITION June 7, 2017

STATE OF THE MARKETS The SGX Nifty Futures were trading at 9,690.00, trading up 0.15 percent from its previous close. The Indian rupee is likely to open little changed against the dollar and trade in a narrow band today, as investors await the outcome of the Monetary Policy Committee’s two-day meet later in the day. -NewsRise Indian government bonds will likely edge higher amid bets the nation’s Monetary Policy Committee will relax its stance in view of slowing growth and inflation when it announces its decision later today. The yield on the benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 6.62 percent-6.66 percent band till the policy decision due at 2:30 p.m. local time today. -NewsRise Major U.S. stock indexes ended near session lows on Tuesday as traders shied away from risky assets ahead of major political and economic headlines expected on Thursday. Asian stocks inched higher but investors remained noticeably risk averse, with gold and sovereign debt set for a second day of solid gains ahead of several major political and economic events later this week. The dollar wallowed near a six-week low against the safe-haven yen, with traders cautious ahead of Britain's general election, a European Central Bank policy decision and testimony by former FBI Director James Comey. U.S. long-dated Treasury yields fell to seven-month lows on Tuesday, as nervous investors favored the safety of bonds ahead of Thursday's general election in Britain, the European Central Bank's policy meeting, and former FBI Director James Comey's testimony before a Senate panel. Oil prices dipped, with Brent crude futures failing to find support at $50 per barrel, as global fuel markets remained oversupplied, although rising tension in the Middle East and falling U.S. inventories lent some support. Gold held steady near its highest in seven months, supported by a weaker U.S. dollar ahead of key political and economic events that are expected to stoke bullion's safe-haven appeal.

CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 64.43/64.46 June 6 $9.49 mln $65.34 mln

10-yr bond yield 7.01 Month-to-date -$69.70 mln $820.71 mln

Year-to-date $7.91 bln $14.26 bln

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MORNING NEWS CALL - INDIA EDITION June 7, 2017

PICTURE OF THE DAY

A vendor throws a watermelon that was kept in the waters of a canal to keep the melons cool, towards a customer on a hot summer day in Jammu, June 6. REUTERS/Mukesh Gupta

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