11:00 am: Monsoon session of parliament continues in New Delhi 11:00 am: NHPC earnings conference call in Mumbai.
3:00 pm: Britannia Industries and Engineers India earnings conference call in Mumbai.
5:30 pm: GAIL India earnings conference call in Mumbai.
LIVECHAT - OIL FOCUS U.S. crude remains below $50 per barrel restrained by rising output from the United States as well as producer club OPEC, but expectations of strong demand prevented bigger drops. Goldman Sachs and BMI Research said last week that oil companies were adapting to low oil prices, while Barclays said it expected a downward price correction during this quarter, but saw Brent at an average of $54/ bbl in Q4. Ekpen Omonbude, petroleum and mining economist, The Commonwealth joins us at 11:30 am IST to share his outlook. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS • One-off gain embellishes Tata Motors' first quarter profits Tata Motors Ltd reported a 42 percent rise in quarterly profit thanks to a one-off gain related to changes to Jaguar Land Rover's pension plans, masking a fall in the carmaker's income.
• POLL-India retail inflation seen picking up for first time in 4 months in July India's retail inflation is expected to have picked up slightly in July after cooling in the previous three months, a Reuters poll showed, but likely remained well below the central bank's 4 percent medium-term target.
• Get ready for first filing deadline, GST chief says Millions of companies in India are still not ready to file their first returns under the new Goods and Services Tax ahead of an Aug. 20 deadline, a top official told Reuters, urging them not to leave things to the eleventh hour.
• Aurobindo Pharma Q1 profit drops 11 percent, misses estimates Aurobindo Pharma Ltd reported a 11 percent fall in quarterly profit, hurt by lower sales from its formulations business in the U.S. and pre-launch disruptions of a pan-India tax reform.
• Bank of India swings to Q1 profit, bad loans fall Bank of India reported a first-quarter profit as its bad loan ratio narrowed and loan-loss provisions fell.
• Thousands of protesters disrupt traffic in India's financial capital More than 200,000 protesters poured into India's financial capital on Wednesday, disrupting traffic and straining the railway network, to press their demands for reserved quotas in government jobs and college places for students.
GLOBAL TOP NEWS • N.Korea details Guam strike plan, calls Trump's warning a 'load of nonsense' North Korea dismissed on Thursday warnings by U.S. President Donald Trump that it would face "fire and fury" if it threatened the United States as a "load of nonsense", and outlined detailed plans for a missile strike near the Pacific territory of Guam.
• Japan's June core machinery orders unexpectedly fall Japan's core machinery orders unexpectedly fell for a third consecutive month in June, underscoring companies' reluctance to boost spending and conflicting with recent signs that the economic recovery is gathering momentum.
• Toshiba wins auditor sign-off, likely avoiding delisting for now Toshiba Corp has secured its auditor's sign-off on its financial results, likely avoiding an immediate delisting, although its future hung in the balance with no progress in talks to sell its chips business.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) • The SGX Nifty Futures were trading at 9,906.50, trading down 0.1 percent from its previous close.
• Indian government bonds are likely to ease in early session as investors await fresh supply of notes today and tomorrow. The yield on the benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 6.45 percent-6.49 percent band.
• The Indian rupee will likely open lower against the dollar, as mounting tensions between North Korea and the United States continue to boost demand for safe-haven assets.
GLOBAL MARKETS • U.S. stocks clawed back losses late on Wednesday as investors appeared to brush off geopolitical concerns after falling in the wake of U.S. President Donald Trump's "fire and fury" warning to North Korea.
• Asian stocks steadied and U.S. Treasury bond prices fell slightly as the risk aversion triggered by the latest flare up of tensions between the United States and North Korea began to settle.
• Asian stocks steadied and U.S. Treasury bond prices fell slightly as the risk aversion triggered by the latest flare up of tensions between the United States and North Korea began to settle.
• Oil futures inched down despite official figures showing U.S. crude inventories fell more than expected, with an analyst saying the market had settled into a range.
• Gold prices edged lower, moving away from near two-month highs hit in the previous session as safe haven demand triggered by rising tensions in the Korean peninsula eased.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 63.81/63.84 August 9 -$131.70 mln $247.53 mln 10-yr bond yield 6.76 pct Month-to-date $89.13 mln $1.23 bln Year-to-date $9.07 bln $22.38 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 = 63.8550 Indian rupees) (Compiled by Erum Khaled in Bengaluru)
