2:00 pm: Power Minister Piyush Goyal at an event in New Delhi.
4:00 pm: Road Transport Minister Nitin Gadkari at an event in New Delhi.
5:00 pm: L&T Technology Services press meet in Mumbai.
5:15 pm: Cabinet likely to meet in New Delhi. Agenda not known.
5:30 pm: ICICI Bank earnings concall in Mumbai.
LIVECHAT - CHARTING FX Take a look at the FX charts with Reuters technical analyst Martin Miller, at 3:30 pm. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS • Infosys plans to hire 10,000 U.S. workers after Trump targets outsourcing firms India-based IT services firm Infosys Ltd plans to hire 10,000 U.S. workers in the next two years and open four technology centers in the United States, starting with a center this August in Indiana, the home state of U.S. Vice President Mike Pence.
• Indian factory activity expands for 4th month in April - PMI Indian manufacturing activity expanded for a fourth consecutive month in April, helped by stronger growth in new orders although rises in output and employment slowed, a business survey showed on Tuesday.
• German union demands end to talks between Thyssenkrupp and Tata German labour union IG Metall demanded on Tuesday that industrial company Thyssenkrupp end talks to merge its European steel business with that of India's Tata Steel.
• India cuts oil import plans from Iran by a quarter over gas field row India plans to order about a quarter less Iranian crude oil than it bought last year, people familiar with the matter said, as state refiners cut term purchase deals over a row between New Delhi and Tehran on development of a natural gas field.
GLOBAL TOP NEWS • Trump urges future government shutdown, easier passage of laws U.S. President Donald Trump came to office promising that he would produce so much winning that Americans would be sick of it. As he struggles to produce wins, some signs of frustration are starting to appear.
• Apple posts surprise dip in iPhone sales, shares fall Apple Inc reported a surprise fall in iPhone sales for its second quarter on Tuesday, indicating that customers may have held back purchases in anticipation of the 10th-anniversary edition of the company's most important product later this year.
• U.S., China talk firmer U.N. response to North Korea's missiles: diplomats The United States is negotiating with China on a possible stronger U.N. Security Council response - such as sanctions - to North Korea's repeated ballistic missile launches, which the 15-member body normally condemns in a statement, diplomats said.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) • The SGX Nifty Futures were trading at 9,357.00, trading up 0.14 pct from its previous close • The Indian rupee is likely to rise against the dollar in early trade, in line with gains in regional peers, amid broad weakness in the greenback ahead of the conclusion of the U.S. Federal Reserve’s two-day policy meet later today.
• Indian government bonds are likely to trade steady ahead of the U.S. Federal Reserve’s monetary policy decision, due later today. The yield on the benchmark 6.97 pct bond maturing in 2026 is likely to trade in a 6.96 pct - 7.01 pct band today.
GLOBAL MARKETS • Wall Street edged higher on Tuesday as gains for the tech and industrial sectors countered weakness in auto and energy stocks and investors digested a heavy day of earnings reports.
• Asian stocks followed global indexes higher, as strong earnings and manufacturing data boosted risk appetite, while expectations that the Federal Reserve will signal a June rate increase later in the session lifted the dollar.
• Asian stocks followed global indexes higher, as strong earnings and manufacturing data boosted risk appetite, while expectations that the Federal Reserve will signal a June rate increase later in the session lifted the dollar.
• U.S. Treasury prices gained on Tuesday after weak auto sales raised concerns about the strength of consumer spending, and as investors awaited the conclusion of the Federal Reserve’s two-day meeting on Wednesday.
• Crude oil prices bounced back as a decline in U.S. inventories underpinned the market, although a dip in compliance with OPEC efforts to reduce output and near record supplies capped gains.
• Gold held near a three-week low hit in the previous session on rising equities and a firmer dollar as markets waited for cues on an U.S. interest rate hike from the Federal Reserve later in the day.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 64.17/64.20 May 2 -$95.40 mln $115.40 mln 10-yr bond yield 7.24 Month-to-date - - Year-to-date $6.44 bln $9.51 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 = 64.21 Indian rupees) (Compiled by Sai Sharanya Khosla in Bengaluru)
