11:10 am: RBI Governor Raghuram Rajan to brief media after monetary policy announcement in Mumbai.
2:30 pm: RBI Governor Raghuram Rajan to hold teleconference with analysts in Mumbai.
GMF: GMF ASIA LIVECHAT - U.S. PRESIDENTIAL RACE FOCUS with Pippa Malmgren, ex-White House, American policy analyst and international economist Pippa Malmgren is an American policy analyst. She served as Special Assistant to U.S. President George W. Bush for Economic Policy on the National Economic Council and former member of the U.S. President's Working Group on Financial Markets. Founder of the DRPM Group and co-founder of H Robotics, Pippa specialises in bringing together insights about markets, politics, policy and geopolitics that signal important and investable trends. To join the conversation at 1200 IST, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS India seen keeping interest rates steady as Rajan waits for rain India's central bank is widely expected to keep its policy interest rate unchanged at a five-year low of 6.50 percent, while signalling the prospect of another cut later this year if monsoon rains dampen upward pressure on food prices.
India eyes mechanism for "commercially prudent" settlement of bad loans India's Finance Minister Arun Jaitley said on Monday that state bankers would propose a mechanism to reach "commercially prudent" loan settlements, as the government and lenders met to discuss how to tackle the country's bad loan problem.
India ready to help revive Nagarjuna oil refinery - oil minister Energy-hungry India is ready to revive projects including the Nagarjuna Oil Refinery in the south of the country to boost its oil sector, oil minister Dharmendra Pradhan told a local television channel on Monday.
L&T wins $135 million Qatar World Cup stadium contract - official Larsen & Toubro Ltd has secured a contract to build a $135 million stadium for Qatar's 2022 World Cup, an official told Reuters on Monday, a boost for the Indian firm facing a slowdown in its key Middle East market due to low oil prices.
PM Modi gets Swiss pledge on tackling tax dodgers Switzerland promised on Monday to work with Indian authorities to tackle tax dodgers who stash money in Swiss bank accounts to avoid Indian taxes.
GLOBAL TOP NEWS Fed's Yellen sees rate hikes ahead, but few hints on when Federal Reserve Chair Janet Yellen on Monday gave a largely upbeat assessment of the U.S. economic outlook and said interest rate hikes are coming but, in an omission that stood out to some investors, gave little sense of when.
Clinton clinches Democratic nomination -AP delegate count Hillary Clinton has reached the number of delegates needed to clinch the Democratic U.S. presidential nomination, the Associated Press said on Monday, the day before six states were set to vote in nominating contests.
Saudi reform plan aims for revenue surge, salary clamp-down Saudi Arabia plans to more than triple the government's non-oil revenues and clamp down on public-sector salaries over the next five years, ministers said on Monday as they described reforms designed to reduce the economy's dependence on oil and build a sustainable future.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) The SGX Nifty Futures was trading at 8,272.00, up 0.50 pct from its previous close.
The Indian rupee will likely open higher against the U.S. dollar, as Federal Reserve Chair Janet Yellen's cautious comments further pushed back expectations of an early rate increase, keeping the greenback at near four-week lows.
Indian government bonds may open little changed ahead of the central bank's policy review today, where Governor Raghuram Rajan is widely expected to maintain the current level of interest rates. The yield on the benchmark 7.59% bond maturing in 2026 is likely to trade in a 7.45 pct-7.49 pct range.
GLOBAL MARKETS The S&P 500 closed at a 7-month high on Monday as Federal Reserve Chair Janet Yellen painted a mostly upbeat picture of the economy but gave little sense of when a rate hike may be coming.
Asian shares hit a five-week high after Federal Reserve Chair Janet Yellen said U.S. interest rate hikes are likely on the way, held back any reference to the timing.
The dollar wallowed close to four-week lows against a basket of currencies, after Federal Reserve Chair Janet Yellen's remarks failed to toss a lifebuoy to the recently foundering greenback.
U.S. Treasuries reversed some price declines but still ended weaker on Monday after Federal Reserve Chair Janet Yellen said a strengthening economy means that interest rate increases are likely on the way, while also acknowledging Friday's disappointing employment report.
Brent oil prices inched lower after hitting a seven-month high a day earlier, but the market momentum looked strong on a weak dollar, attacks on Nigerian oil infrastructure and falling U.S. crude inventories, analysts said.
Gold held steady near two-week highs, benefiting from a weaker dollar, as cautious remarks by Federal Reserve chair Janet Yellen gave few indications about the timing of U.S. rate increases.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 66.79/66.82 June 6 - -$6.87 mln 10-yr bond yield 7.65 pct Month-to-date $380.34 mln -$315.98 mln Year-to-date $2.56 bln -$1.38 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 = 66.96 Indian rupees) (Compiled by Hardik Vyas in Bengaluru)
