GMF: LIVECHAT - FX WEEK AHEAD FX Buzz analyst Jeremy Boulton analyses G7 currencies at 06:30 pm IST. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS • ICICI Bank's Q2 profit falls, awaits central bank report ICICI Bank Ltd on Friday reported a bigger-than-expected 34 percent fall in second-quarter profit partly due to a smaller gain from the sale of a stake in a business, but bad loans remained stable.
• India's Maruti Suzuki says will have to move to electric cars Maruti Suzuki India, the country's biggest carmaker, said on Friday it planned to build electric cars as the government strives to electrify all new vehicles by 2030, though it didn't give a timeline for the process.
• India's state-run Canara Bank posts worse-than-expected fall in Q2 profit India's state-run Canara Bank Ltd reported a 27 percent fall in second-quarter profit on lower interest income.
• India's ONGC Q2 profit rises 3 pct, beats estimates India's Oil and Natural Gas Corp Ltd reported on Saturday a 3.1 percent rise in second-quarter profit, ahead of analysts' expectations.
• India's ITC Q2 profit rises about 6 pct India's biggest cigarette maker ITC Ltd posted a nearly 6 percent rise in quarterly profit on Friday, helped by lower costs.
• India's IOC posts nearly 18 pct jump in Q2 profit, but misses estimates Indian Oil Corp Ltd reported a nearly 18 percent rise in second-quarter profit, but missed estimates by a wide margin.
• Indian Oil aims for LNG import capacity of 13.5 mln tonnes in 5 yrs State-owned Indian Oil Corp Ltd aims to have capacity to import about 13.5 million tonnes of liquefied natural gas (LNG) in five years, its head of business development said on Friday, helping India to gradually move to a gas-based economy.
• Indian firms eye stake in Adnoc's offshore oil concession Indian oil firms are in talks with state-run Abu Dhabi National Oil Co (Adnoc) to acquire a stake in its ADMA-OPCO offshore oil concession when it comes up in 2018, Indian officials said on Friday.
GLOBAL TOP NEWS • Japan's retail sales show strength in consumer spending Japan's retail sales rose in September at the fastest pace in three months as shoppers spent more on clothes and daily goods in a sign that consumer spending remains strong due to a tight labour market.
• Hundreds of thousands march for unified Spain, poll shows depths of division Hundreds of thousands of supporters of a unified Spain filled Barcelona's streets on Sunday in one of the biggest shows of force yet by the so-called silent majority that has watched as regional political leaders push for Catalan independence.
• Flood of Chinese capital seen shaking up aviation finance A flood of low-cost Chinese funding is shaking up the global aircraft leasing market, with Chinese capital now accounting for 28 percent of the $261 billion deployed by leasing firms worldwide, a study suggested.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) • The SGX Nifty Futures were at 10,385.00, trading up 0.13 percent from its previous close.
• Indian government bonds are likely to trade lower, as the central bank announced yet another open market sale next month. The yield on the benchmark 6.79 percent bond maturing in 2027 may trade in a 6.80 percent-6.84 percent band.
• The Indian rupee will likely edge higher against the dollar in early trade, tracking Asian peers, with the greenback trading lower in early trade from last week’s sharp gains post an upbeat third-quarter U.S. GDP data.
GLOBAL MARKETS • Wall Street climbed on Friday as a surge in the tech sector and a rally in Amazon shares helped push the Nasdaq to its best day in nearly a year.
• Asian shares climbed and crude oil rose to a 2-year top, while the euro loitered around a 3-month low as the European Central Bank's decision to extend its stimulus further fattened the dollar's yield advantage.
• The dollar hovered near three-month highs against a currency basket, while the euro nursed losses after the European Central Bank and unrest in Spain's Catalonia led it to post its worst week this year.
• U.S. Treasury yields fell on Friday as Catalonia's parliament declared independence from Spain and as reports emerged that President Donald Trump favored Federal Reserve Governor Jerome Powell to lead the U.S. central bank.
• Oil markets were stable, with Brent remaining above $60 per barrel supported by expectations that an OPEC-led production cut due to expire next March would be extended.
• Gold slipped as investors remained cautious ahead of the naming of the next U.S. Federal Reserve chair and ahead of a two-day Federal Open Market Committee (FOMC) meeting, both this week.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 65.02/65.05 October 27 -$98.60 mln -$31.12 mln 10-yr bond yield 6.96 pct Month-to-date $266 mln $2.27 bln Year-to-date $5.62 bln $25.55 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 = 65.0300 Indian rupees) (Compiled by Nayyar Rasheed in Bengaluru)
