3:45 pm: Larsen & Toubro post earnings press conference in Mumbai.
INDIA TOP NEWS Bank of Baroda, IDBI post big Q4 losses as bad loans surge Bank of Baroda and IDBI Bank reported big fourth-quarter losses on Friday, continuing the losing streak of state-run lenders which have been hit by tighter central bank rules on bad loans.
Sun Pharma warns U.S. pricing pressure to hit 2019 profit India's largest drugmaker Sun Pharmaceutical Industries said on Friday it expects its 2019 revenue to come in short of analysts' expectations due to pricing pressure in its main market, the United States.
Vedanta sticks with plan to expand Indian smelter despite deadly protests London-listed Vedanta Resources hopes to restart its copper smelter in a southern Indian city and still wants to double its capacity despite protests demanding its closure that killed 13 people this week, a company executive told Reuters on Friday.
Third Indian state checks suspect cases in outbreak of rare brain-damaging virus Officials in a third Indian state were checking on Friday if two people had been infected with the brain-damaging Nipah virus that has killed 12 in southern Kerala, although the government described the outbreak as minor.
Tech Mahindra Q4 profit tops estimates on more deal wins Tech Mahindra posted a quarterly profit on Friday that handily beat analysts' estimates, boosted by a rise in deal wins and the rupee's weakness against the U.S. dollar.
Brunei sells stake in Jordan Phosphate to Indian firms Brunei, the largest shareholder in Jordan Phosphate Mines Company (JPMC), has agreed to sell a 37 percent stake to India's two largest importers and producers of fertilisers in a deal worth around $130 million, the Amman stock exchange said on Sunday.
From flipflops to cars: India's obsession with IPL pulls in the advertisers Advertising rates for this season's Indian Premier League cricket tournament have shot through the roof with a record 125 brands riding on the country's most lucrative sports competition, far exceeding expectations of Star India, its new broadcaster.
ONGC awards tender to sell Brazil's Ostra oil to Shell -sources India's top explorer Oil and Natural Gas Corp has awarded its first mini-term tender to sell Brazil's heavy crude oil Ostra in June-November to Shell, three sources familiar with the matter said.
GLOBAL TOP NEWS U.S. team in North Korea for talks on summit, Trump says U.S. President Donald Trump said on Sunday a U.S. team had arrived in North Korea to prepare for a proposed summit between him and North Korean leader Kim Jong Un, which Trump pulled out of last week before reconsidering.
China April industrial profit growth rebounds to six-month high Profits earned by Chinese industrial firms in April rose at their fastest pace in six months, data from the National Bureau of Statistics (NBS) showed on Sunday, as factories benefited from higher prices and strong demand.
Italy's president calls in former IMF official amid political turmoil Italy's president is expected to ask a former International Monetary Fund official to head a stopgap government amidst political and constitutional turmoil, with early elections looking inevitable.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) SGX Nifty nearest-month futures were trading up 0.2 percent at 10,632.50.
The Indian rupee will likely open higher against the dollar, helped by the decline in Brent crude and 10-year U.S. yields to their lowest level in three weeks.
Indian government bonds are likely to gain in early trade tracking a sharp fall in crude oil prices and lower U.S. Treasury yields. The yield on the benchmark 7.17 percent bond maturing in 2028 is likely to trade in 7.72-7.80 percent band.
GLOBAL MARKETS • The S&P 500 and the Dow eased on Friday after a steep drop in oil prices pressured energy stocks, but losses were limited by gains in chipmakers and retail stocks.
• U.S. oil futures hit six-week lows on expectations major producers may ease output curbs, while Asian stocks and U.S. share futures gained on signs the United States and North Korea were still working towards holding a summit.
• The euro crawled off a 6-1/2-month low against the dollar, catching its breath after Italy's president tried to allay investor worries about political unrest in the country, although the prospect of a near-term election capped gains.
• U.S. Treasury yields fell to their lowest level in three weeks on Friday as concerns about Italy’s new government and a leadership challenge in Spain boosted demand for low-risk debt.
• Oil prices fell, extending a steep decline in the previous session, as the market eyed an increase in output from the world's three top crude producers, Russia, the United States and Saudi Arabia.
• Gold prices eased, following their biggest weekly gain in six weeks, as U.S. President Donald Trump revived hopes of his summit with North Korean leader Kim Jong-un, after cancelling the meeting last week.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 67.72/67.75 May 25 -$113.4 mln $69.49 mln 10-yr bond yield 8.07 pct Month-to-date -$1.02 bln -$2.47 bln Year-to-date $160.43 mln -$4.14 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 = 67.7300 Indian rupees) (Compiled by Nayyar Rasheed in Bengaluru)
