INDIA TOP NEWS Government scraps planned pension changes after violent protests India on Tuesday scrapped a controversial proposal restricting when workers could withdraw pension savings after thousands of protesters clashed with police in the information technology hub of Bengaluru.
Rajan says FX intervention to continue to reduce volatility The Reserve Bank of India will continue to use currency intervention to reduce volatility in the country's exchange rates, the bank's governor, Raghuram Rajan, said on Monday.
HPCL plans $3.8 billion refinery investment to lift capacity by two-thirds Hindustan Petroleum Corp plans to invest around $3.8 billion to ramp up its refining capacity by two-thirds this decade, as the country's oil demand soars and to meet cleaner fuel standards, a company official told Reuters.
Expansion an elusive dream for Indian industry Expansion is a distant dream for many Indian manufacturers as they grapple with under-utilised factories and towering debts, putting pressure on Prime Minister Narenda Modi to count on government spending instead of private investment to boost Asia's third-biggest economy.
TCS Q4 profit surges, but results overshadowed by trade secrets case India's biggest software services exporter Tata Consultancy Services Ltd beat quarterly profit forecasts on Monday, but the results were overshadowed by an adverse judgment claiming it breached trade secrets.
India court issues arrest warrant against tycoon Mallya A court on Monday issued a warrant for the arrest of tycoon and lawmaker Vijay Mallya, who has left the country with creditors stepping up pressure to recover about $1.4 billion owed by his defunct Kingfisher Airlines.
Steelworkers agree to 3 percent pay cut in Tata Steel-Greybull deal Trade unions Unite, GMB and Community have accepted a 3 percent pay reduction for a year as a part of the deal for the sale of Tata Steel's Long Products business to Greybull Capital, the National Trade Union Steel Coordinating Committee said.
RBI sets some state loans' cut-offs at six-month low The Reserve Bank of India set cut-off yields on Monday for some state government bonds at a six-month low, in the first tranche of auctions for the financial year 2016/17, due to lower amounts, strong demand from state-owned banks and insurers, traders said.
HDFC to list up to 10 percent stake in life insurance JV Indian mortgage lender Housing Development Finance Corp said on Tuesday it plans to list up to 10 percent of its life insurance joint venture with Britain's Standard Life Plc in an initial public offering.
GLOBAL TOP NEWS Trump wins in New York, moves closer to Republican nomination Republican front-runner Donald Trump easily won New York state's presidential nominating contest on Tuesday, moving closer to capturing enough delegates to win the party's White House nomination and avoid a contested convention in July.
Intel to cut up to 12,000 jobs as PC industry swoons Intel Corp said on Tuesday it would cut up to 12,000 jobs globally, or 11 percent of its workforce, as it refocuses its business towards making microchips that power data centers and Internet connected devices and away from the declining personal computer industry it helped found.
Japan exports fall, yen rise weighs on business mood Japan's exports fell for a sixth straight month in March in a sign that the yen's rise and sluggish emerging market economies may be hurting foreign demand and holding back Japan's recovery.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) The SGX Nifty Futures was trading at 7,973.00, down 0.23 pct from its previous close The Indian rupee is poised to open higher against the dollar, as disappointing U.S. housing data reinforced bets that the Federal Reserve will likely delay raising interest rates, hurting demand for the greenback.
Indian government bonds will likely edge higher in early trading, as investors may step up purchases amid improved global risk appetite.The yield on the benchmark 7.59 pct bond maturing in 2026 is likely to trade in a 7.39 pct-7.45 pct range.
GLOBAL MARKETS The S&P 500 climbed closer to a record high on Tuesday, lifted by energy stocks and a solid quarterly report from Johnson & Johnson.
Asian shares reached six-month peaks as a falling U.S. dollar and fading concerns about China lifted commodity prices and risk appetite generally.
Commodity-linked currencies like the Australian and Canadian dollars pulled back from recent peaks on Wednesday as a rally in crude oil prices stalled after a oil workers' strike in Kuwait ended.
U.S. Treasury yields rose on Tuesday, but held in the tight range they have traded in this month, as stock prices gained and as investors awaited next week's Federal Reserve meeting.
Crude futures fell in early Asian trade after Kuwaiti oil workers ended a three-day strike that had cut production from the Middle Eastern country and data showed U.S. stockpiles rose last week.
Gold retained sharp overnight gains as disappointing U.S. housing data dented the dollar and supported the Federal Reserve's cautious stance on interest rates.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 66.40/66.43 April 18 $147.6 mln $20.89 mln 10-yr bond yield 7.62 pct Month-to-date - $294.48 mln Year-to-date - -$465.44 mln 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 = 66.55 Indian rupees) (Reporting by Nishit Kunal in Bengaluru)
