MORNING NEWS CALL

FACTORS TO WATCH 9:30 am: Commerce Minister Suresh Prabhu, Finance Secretary Hasmukh Adhia and Commerce Secretary Rita Teaotia at India Gold and Jewellery Summit in New Delhi. 9:30 am: Reliance Infrastructure Oil and Gas CEO A.K. Balyan at SHRM Indias National PSU Conference New Delhi. 12:30 pm: Cabinet briefing likely New Delhi. 4:00 pm: Mines Secretary Arun Kumar to brief media about amendments on mineral auction rules New Delhi. LIVECHAT- WEEKAHEAD Reuters EMEA markets editor Mike Dolan discusses the upcoming week's main market inflection points at 04:30 pm IST. To join the Global Markets Forum, click here INDIA TOP NEWS India sees growth rebound as businesses adjust to new tax India's economic growth rebounded to 6.3 percent in the three months ending in September, halting a five-quarter slide as businesses started to overcome teething troubles after the bumpy launch of a national sales tax. India's fiscal deficit reaches 96 percent of FY target in October - government India reported a fiscal deficit of 5.25 trillion rupees for April-October, or 96.1 percent of the budgeted target for the current fiscal year that ends in March 2018. RCom says majority of creditor banks oppose CDB insolvency petition Debt-laden Indian wireless carrier Reliance Communications on Thursday said that a majority of its 31 creditor banks have decided to oppose China Development Bank's insolvency petition against the company. HDFC AMC gets board approval to start IPO process The board of HDFC Asset Management Co Ltd on Thursday gave its approval to begin the process for launching an initial public offering of India's second-biggest mutual fund manager by assets, according to a stock exchange filing. GLOBAL TOP STORIES U.S. Senate tax bill stalls on deficit-focused 'trigger' The U.S. Senate on Thursday delayed voting on a Republican tax overhaul as the bill was tripped up by problems with an amendment sought by fiscal hawks to address a large expansion of the federal budget deficit projected to result from the measure. Japan consumer prices, household spending raise doubts about inflation Japan's core consumer prices rose in October from a year earlier, marking the 10th straight month of gains, but a narrower measure that excludes energy showed inflation has not accelerated for three consecutive months. Bitcoin pauses below record peak; gained 55 percent in November Bitcoin hovered around $9,600 in volatile trade, after tumbling about 15 percent from an all-time high hit this week as some investors warned ominously of a bubble and further falls in the stratospheric cryptocurrency.

STATE OF THE MARKETS The S&P closed at a record high and the Dow Jones Industrial Average broke above the 24,000 mark for the first time on Thursday as investors gained confidence that the Republican party's push for a U.S. tax overhaul would succeed.

REUTERS INDIA EDITION Friday, December 1, 2017

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MORNING NEWS CALL - INDIA EDITION December 1, 2017

Asian shares pushed higher, cheered by Wall Street gains after apparent progress on U.S. tax legislation as investors waited for the Senate's vote, while higher U.S. Treasury yields underpinned the dollar. The dollar steadied against the yen, losing steam after rising to a 10-day high, as the market endured the wait for a vote on a U.S. tax reform bill. U.S. Treasury yields rose sharply on Thursday, in line with the steep rally on Wall Street, on news that Senator John McCain had endorsed the U.S. Senate tax bill, potentially easing challenges to its eventual passage in Congress. U.S. oil held steady after OPEC and other major producers agreed to extend production curbs in a widely expected move aimed at ending a persistent glut in global supplies. Gold prices edged higher, after marking a 3-1/2 week low in the previous session, as the dollar weakened slightly after the progress on U.S. tax legislation hit a roadblock.

CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 64.60/64.63 November 30 -$232.63 mln -$33.66 mln

10-yr bond yields - Month-to-date $3.05 bln -$212.16 mln

Year-to-date $8.69 bln $25.73 bln

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MORNING NEWS CALL - INDIA EDITION December 1, 2017

PICTURE OF THE DAY

A man places a placard as he prepares a message during an HIV/AIDS awareness campaign on the eve of World AIDS Day in Kolkata, November 30. REUTERS/Rupak De Chowdhuri

(Compiled by Shradha Singh in Bengaluru) For questions or comments about this report, contact: reuters.marketwatch@thomsonreuters.com For more information about our products: https://www.thomsonreuters.com/en/products-services.html Or send us a sales enquiry at: https://www.thomsonreuters.com/en/contact-us.html or call us on North America: +1 800 758 5555 You may instruct us to remove you from Morning News Call by clicking on the link - https://forms.thomsonreuters.com/MorningNewsCall/Unsubscribe/

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