MORNING NEWS CALL

FACTORS TO WATCH

3:00 pm: State Bank of India annual general meeting in Mumbai.

5:00 pm: Varroc Engineering IPO subscription closes in Mumbai.

LIVECHAT - MARKETS FOCUS

Michael Hewson, chief market analyst at CMC Markets, will discuss views and cues for markets, focussing on central

banks and trade wars at 02:30 pm IST. To join the Global Markets Forum, click here

INDIA TOP NEWS

EXCLUSIVE-Thyssenkrupp nears JV compromise deal with Tata Steel -sources

Thyssenkrupp and Tata Steel are nearing a 15 billion euro deal this week to combine their European assets into a global

steel giant, sources familiar with the talks told Reuters.

Times Internet buys stake in MX Player for $146 million

Times Internet Ltd said it bought a majority stake in MX Player for over 10 billion rupees, as it ventures into the video

streaming space.

U.S. envoy Haley tells Modi important to cut imports of Iranian oil

U.S. Ambassador to the United Nations Nikki Haley told India's Prime Minister Narendra Modi on Wednesday it was

important India cut Iranian oil use, but said the United States would work to allow India to use an Iranian port as corridor

to Afghanistan.

Westinghouse eyes Saudi, India deals as end to bankruptcy nears

U.S. nuclear firm Westinghouse expects to emerge from bankruptcy with sufficient equity in coming weeks and is

targeting Saudi Arabia and India for new reactor sales, its CEO said.

GLOBAL TOP STORIES

Trump to use U.S. security review panel to curb China tech investments

U.S. President Donald Trump said on Wednesday he will use a strengthened national security review process to thwart

Chinese acquisitions of sensitive American technologies, a softer approach than imposing China-specific investment

restrictions.

Apple, Samsung settle U.S. patent dispute

Apple and Samsung Electronics on Wednesday settled a seven-year patent dispute over Apple's allegations that

Samsung violated its patents by "slavishly" copying the design of the iPhone.

Justice Kennedy to retire, Trump has chance to reshape U.S. high court

Supreme Court Justice Anthony Kennedy said on Wednesday he plans to retire after three decades as a pivotal vote on

the highest U.S. judicial body, giving President Donald Trump an opportunity to make the court more firmly conservative.

STATE OF THE MARKETS

The SGX Nifty nearest-month futures were trading down 0.2 pct at 10,653.00.-NewsRise

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The Indian rupee is likely to open near record lows against the dollar, weighed by the rally in benchmark U.S. crude oil

prices to their highest level in three-and-a-half years and further weakness in the Chinese yuan.-NewsRise

Indian government bonds are likely to fall today as crude oil prices extended gains and as the rupee is expected to fall

amid concerns over the ensuing global trade war. The yield on the benchmark 7.17 percent bond maturing in 2028 is

likely to trade in a 7.86 percent-7.93 percent band today. -NewsRise

U.S. stocks fell on Wednesday on renewed uncertainty regarding the U.S. stance on Chinese investments in American

technology companies, reversing gains earlier in the session.

Asian stocks slumped to nine-month lows on growing worries the U.S. administration's approach to trade is harming

global economic growth even as it appeared to be modifying its approach to curb Chinese investments in U.S.

technology firms.

The dollar was steady against its rivals, though it failed to build on overnight gains amid conflicting signals from

Washington on a proposal to restrict Chinese investment as the bitter U.S.-China trade row kept financial markets on

edge.

U.S. Treasury yields fell to four-week lows on Wednesday on concerns that trade wars will harm economic growth,

even after U.S. President Donald Trump indicated that he would not impose restrictions on Chinese investments in U.S.

technology firms.

U.S. oil prices dipped from three-and-a-half year highs as physical markets remained well supplied despite record

demand and ongoing disruptions.

Gold prices inched up, but hovered close to an over six-month low hit in the previous session, as the dollar failed to

build on overnight gains amid conflicting signals from Washington while the U.S.-China trade row deepened.

CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 68.55/68.58 June 27 $9.83 mln $88.32 mln

10-yr bond yield 7.87 pct Month-to-date -$706.6 mln -$1.42 bln

Year-to-date -$951.25 mln -$5.64 bln

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PICTURE OF THE DAY

U.S. Ambassador to the United Nations Nikki Haley poses in front of Humayun's Tomb in New Delhi, June 27. REUTERS/Adnan Abidi