12:00 pm: Science & Technology and Earth Sciences Minister Harsh Vardhan at an event in New Delhi.
2:30 pm: NITI Aayog CEO Amitabh Kant at an event in New Delhi.
5:30 pm: Government to release April consumer price inflation data in New Delhi.
6:00 pm: Hindustan Unilever earnings conference call in Mumbai.
LIVECHAT- FX WEEK AHEAD FX Buzz analyst Jeremy Boulton analyses G7 currencies at 3:30 pm IST. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS • Walmart may launch IPO for Flipkart in as early as four years Walmart said on Saturday in a filing with a U.S. regulator that it may take India's Flipkart public in as early as four years, detailing for the first time a potential listing timeline for Walmart's largest-ever acquisition.
• India's industrial growth slows to five-month low in March India's industrial output growth slowed to a five-month low of 4.4 percent in March, dragged down by smaller increases in mining, but the central bank is expected to hold interest rates in its next policy meeting amid growing inflation concerns.
• Bad loans push four Indian state banks to combined $1.74 billion Q4 loss Four Indian state banks reported on Friday a combined net loss of 117.29 billion rupees for the fiscal fourth quarter due to a jump in bad-loan provisions following a tightening of central bank rules.
• Fortis picks underdog in five-way bidding war Fortis Healthcare aims to accept an offer of investment from the underdog of a five-way bidding war, in a decision that drew investor ire and sent shares in the cash-strapped hospital operator down.
• POLL-India April retail inflation seen climbing on higher oil prices A three-month slide in India's inflation rate likely ended in April due to higher energy prices, a Reuters poll found, which could intensify pressure on the central bank to hike interest rates.
• SpiceJet March-quarter profit rises nearly 11 percent SpiceJet posted a 10.8 percent growth in March-quarter profit on Friday, helped by a rise in passenger yields during the period.
• State-run lender OBC posts $245 million Q4 loss Oriental Bank of Commerce reported a 16.50 billion-rupee net loss for its fourth quarter on Saturday as bad loans surged due to new central bank rules.
• Polls suggest Modi's BJP may be leading party in India's Karnataka Exit polls in the southern Indian state of Karnataka on Saturday suggest Narendra Modi's BJP could emerge as the leading party, potentially boosting the prime minister's chances of winning a second term in general elections early next year.
GLOBAL TOP NEWS • Rhetoric over U.S. exit from Iran deal rises amid threat of sanctions The United States threatened on Sunday to impose sanctions on European companies that do business with Iran, as the remaining participants in the Iran nuclear accord stiffened their resolve to keep that agreement operational.
• Xerox says it is ending Fujifilm deal, settles with Icahn, Deason Xerox said on Sunday it was ending a planned $6.1 billion deal with Fujifilm Holdings and had reached a settlement with activist investors Carl Icahn and Darwin Deason.
• Family of IS-inspired suicide bombers attack Indonesian churches, at least 13 dead A family of six launched suicide attacks on Christians attending Sunday services at three churches in Indonesia's second-largest city of Surabaya, killing at least 13 people and wounding 40, officials said.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) • The SGX Nifty nearest-month futures were trading down 0.1 percent at 10,816.00 • The Indian rupee is expected to open marginally higher against the U.S. currency after the dollar index declined to a one-week low and crude oil pulled back from multiyear highs.
• Indian government bonds are likely to trade little changed ahead of release of inflation data for April after market today. The yield on the benchmark 7.17 percent bond maturing in 2028 is likely to trade in 7.70 percent-7.75 percent band today.
GLOBAL MARKETS • The S&P 500 rose on Friday, helped by healthcare stocks after President Donald Trump blasted high drug prices but avoided taking aggressive measures to cut them.
• Asian shares shot up to near two-month highs on signs the United States and China were toning down their trade war rhetoric, while Malaysian Ringgit hit a four-month trough in the first onshore trade since a shock election result last week.
• The dollar held steady, its recent rally running out of steam on the back of sagging U.S. yields as investors wound back expectations that the Federal Reserve will launch a series of quick rate hikes.
• The Treasury yield curve on Friday was the flattest it had been since July 2007 as shorter-dated yields rose on expectations the Federal Reserve would hike U.S. interest rates in spite of weaker-than-expected economic data this week.
• Oil prices fell away from last week's multi-year highs as a relentless rise in U.S. drilling activity pointed to increased output, while resistance emerged in Europe and Asia to U.S. sanctions against major crude exporter Iran.
• Gold prices rose on the back of a subdued dollar as investors considered the prospects of slower interest rate hikes in the United States.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 67.28/67.31 May 11 -$48.23 mln -310.26 mln 10-yr bond yield 7.9 pct Month-to-date -$465.18 mln -$1.33 bln Year-to-date $716.87 mln -$2.99 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 = 67.3900 Indian rupees) (Compiled by Erum Khaled in Bengaluru)
