morning news call - thomson...
TRANSCRIPT
MORNING NEWS CALL
FACTORS TO WATCH
5:00 pm: RBI to release weekly foreign exchange data in Mumbai.
LIVECHAT - CHARTS & CHAT
Reuters Stocks Buzz writer and Chartist Terence Gabriel calls out risks and opportunities in global markets via the
charts at 8:00 pm. To join the conversation, click here.
INDIA TOP NEWS
Maruti Suzuki India to phase out diesel cars, sees weak year ahead
Maruti Suzuki India said on Thursday it would stop making all diesel cars beginning April next year and forecast a weak
rate of growth for the current fiscal year, blaming uncertain fuel prices and the onset of stricter emission norms.
India alleges big multinationals did not pass on tax benefits -source
Indian tax authorities have alleged that a number of big multinational companies have not passed on benefits from a tax
cut to customers, a senior government official told Reuters.
Spotify loses access to major Indian label
Music streaming service Spotify Technology said it will remove all songs belonging to one of India's oldest record labels
from its app after they failed to agree on licensing terms, months after the Swedish company's launch in the country.
GLOBAL TOP STORIES
Japan's March factory output declines, rise in inventories raises concerns
Japan's industrial output fell in January-March at the fastest pace in almost five years, suggesting the economy may
post a mild contraction in the first quarter as manufacturers struggle with the U.S.-Sino trade war.
China President Xi says goal of Belt and Road is advance 'win-win cooperation'
China's President Xi Jinping said the aim of his Belt and Road initiative is to advance win-win cooperation among
countries and build a new platform for international trade, while also creating development opportunities for China.
U.S. adds another China e-commerce site to 'notorious' IP blacklist
The United States on Thursday added China's third-largest e-commerce platform to its list of "notorious markets" for
violations of intellectual property rights and kept China on its priority watch list for piracy and counterfeiting concerns.
STATE OF THE MARKETS
SGX Nifty nearest-month futures were little changed at 11,732.50, from its previous close. -NewsRise
The Indian rupee is expected to open higher against the dollar amid a broad recovery in Asian currencies after two
days of losses. -NewsRise
Indian government bonds will likely open lower ahead of fresh supply of papers via a weekly auction today, while
surging crude oil prices continue to be a major trigger. The yield on the benchmark 7.26 percent note maturing in 2029
will likely trade in a 7.44 percent-7.48 percent range till the auction results, a trader with a private bank said. -NewsRise
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The S&P 500 closed just barely lower on Thursday, as a dive in industrial stocks and concerns about slowing global
growth eclipsed gains in Facebook and Microsoft.
Asian shares got off to a subdued start, while the dollar held near two-year highs against the euro on speculation that
data later in the day will show the U.S. economy outperforming the rest of the developed world.
The dollar hovered near a two-year high against its peers, supported by strong U.S. capital goods orders and awaiting
first-quarter GDP data which could further reinforce the greenback's bullish standing.
Afternoon trade saw Treasury yields rise ahead of U.S. gross domestic product report, which is expected to show
growth of 2 percent in the first quarter, a strong outcome after a volatile start to the year in financial markets.
Oil prices dipped on hopes that producer club OPEC will soon raise output to make up for a decline in exports from Iran
following a tightening of sanctions on Tehran by the United States.
Gold rose on track for its first weekly gain in five weeks as investors focused on signs of economic weakness after
dismal data from Germany and Asia, although a strong dollar ahead of U.S. GDP data kept a lid on gains.
CLOSE FII INVESTMENTS EQUITIES DEBT
PNDF spot 70.22/70.25 April 25 - -$44.40 mln
10-yr bond yield 7.45 pct Month-to-date $2.48 bln -$1.80 bln
Year-to-date $9.32 bln -$2.25 bln
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PICTURE OF THE DAY
A man looks out from a burnt window of a residential house, which according to local media was damaged during a gun battle between suspected militants and Indian soldiers, in Bijbehara town in south Kashmir's Anantnag district, April 25. REUTERS/Danish Ismail