10:00 am: Junior Finance Minister Arjun Ram Meghwal at an event in Mumbai.
10:00 am: India's Chief Economic Adviser Arvind Subramanian to speak at ICRIER event in New Delhi.
4:30 pm: Junior Aviation Minister Jayant Sinha at an event in New Delhi.
5:45 pm: RBI Deputy Governor Viral Acharya to speak at ICRIER event in New Delhi.
GMF: LIVECHAT - OIL OUTLOOK Reuters correspondents Amanda Cooper and Jessica ResnickAult take your questions about energy markets in the rapid-fire, weekly segment "Lock, Stock and Barrel" at 7:00 pm IST. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS • India keeps key interest rate unchanged, RBI cuts inflation projections India's central bank lowered inflation projections and delivered a slightly less hawkish policy statement on Wednesday, as it left key interest rates unchanged while waiting to be more sure that inflation will stay subdued.
• RCom says disagrees with new Moody's, Fitch ratings downgrades India's Reliance Communications pushed back against Moody's and Fitch, disagreeing with the ratings agencies' assessment the mobile phone carrier could struggle to reduce its long-term debt even after completing key asset deals.
• India's cabinet approves plan for IREDA to go public India's cabinet approved a plan on Wednesday to publicly list state-owned Indian Renewable Energy Development Agency (IREDA) to fund its ambitious renewable energy development programmes.
• GDF to sell entire 10 percent in India's Petronet LNG for up to $512 million GDF International will sell its entire 10 percent stake in India's Petronet LNG Ltd in block trades on Thursday for up to $512 million, according to a deal term sheet.
• Samsung to double mobile phone capacity at main Indian factory Samsung Electronics plans to double the production capacity for mobile phones and fridges at its main factory in India, expanding in a country where U.S. rival Apple Inc. has started assembling phones.
GLOBAL TOP NEWS • May's bid for stronger Brexit hand at stake in UK election British Prime Minister Theresa May faces the voters in an election she called to strengthen her hand in looming Brexit talks, with her personal authority at stake after a campaign that saw her lead in opinion polls contract.
• Ex-FBI chief Comey tells U.S. senators Trump pressured him on Russia probe Former FBI Director James Comey said on Wednesday that U.S. President Donald Trump asked him to drop an investigation of former national security adviser Michael Flynn as part of a probe into Russia's alleged meddling in the 2016 presidential election.
• North Korea fires suspected land-to-ship missiles as South Korea delays THAAD North Korea fired what appeared to be several land-to-ship missiles off its east coast, South Korea's military said, the latest in a fast-paced series of missile tests defying world pressure to rein in its weapons programme.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) • The SGX Nifty Futures were trading at 9,677.50, down 0.2 percent from its previous close.
• The Indian rupee is likely to open lower against the dollar, in-line with most Asian currencies, as investors stay away from risk assets ahead of key political and economic events in the U.S. and Europe.
• Indian government bonds will likely edge higher, after the Monetary Policy Committee lowered its inflation projections and unveiled a less-hawkish statement, raising optimism the panel will ease interest rates in coming months. The yield on the benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 6.53 percent-6.58 percent band today.
GLOBAL MARKETS • U.S. stocks rose on Wednesday despite a sharp decline in energy shares after written testimony from former FBI director James Comey did not add major revelations about an investigation into Russian meddling with last year's U.S. presidential election.
• Asian shares wobbled in early trade as investors braced for any surprises from former FBI director James Comey's congressional appearance, the European Central Bank's policy meeting and the UK general elections.
• The euro held steady ahead of the European Central Bank's policy announcement, while sterling was supported by expectations that Prime Minister Theresa May's party will win a majority in Britain's election.
• U.S. Treasury debt prices dropped on Wednesday, after comments from former FBI director James Comey on the bureau's investigation into Russia's alleged interference in the 2016 U.S. presidential election were viewed by investors as less damaging than they initially thought.
• Crude futures edged up in early Asian trading following heavy losses in the previous session after official data showed that U.S. inventories rose for the first time in 10 weeks, reawakening concerns over a glut.
• Gold edged lower after a written testimony by former FBI director James Comey ahead of his Congressional appearance was seen containing few fireworks, as investors also braced up for the UK national elections and a policy meeting of the European Central Bank later in the day.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 64.31/64.34 June 7 -- $881.70 mln 10-yr bond yield 6.88 Month-to-date -$556.66 mln $1.70 bln Year-to-date $7.42 bln $15.14 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 = 64.33 Indian rupees) (Compiled by Benny Thomas in Bengaluru)
