11:00 am: Parliament upper house session continues in New Delhi.
5:30 pm: Government to release April consumer price inflation data in New Delhi.
5:30 pm: Government to release March industrial output data in New Delhi.
6:30 pm: Federal cabinet likely to meet in New Delhi. Agenda not given.
TRADING INDIA FORUM- IDFC Bank and Industry Asset quality with Sunil Kakkar, CFO- IDFC Bank Asset quality of banks has been a focal talking point and who better to speak about it then the CEO of India's youngest bank, IDFC. We speak to sunil at 1100 IST who was previously group CEO at IDFC and has worked at Max New York Life Insurance. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/">https://forms.thomsonreuters.com/communities/ GMF:ASIA LIVECHAT - COMMODITIES FOCUS with Gavin Wendt, Founding Director & Senior Resource Analyst, MineLife With questions being raised on more Fed rate hikes this year, Gavin joins us at 1000 IST to talk where commodities could now be headed, especially his outlook on gold, metals and crude. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/">https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS India to take on defaulters as parliament approves bankruptcy bill India's upper house of parliament passed a new bankruptcy code on Wednesday, as the opposition swung behind measures to take tougher action against corporate defaulters and help banks recover over $120 billion in troubled loans.
Smuggling to avoid taxes to boost Indian gold imports to record -ANZ India's gold imports could hit a record high this year amid widespread smuggling to sidestep government levies on overseas shipments, Australia and New Zealand Bank, Asia's biggest shipper of physical gold, said on Wednesday.
India's retail inflation tipped to snap easing trend in April India's headline inflation probably broke a recent slowing trendin April while industrial output likely expanded at its fastest pace in five months in March, reducing the odds of further interest rate cuts by the central bank next month.
RBI to get rates panel in policy shift India's upper house of parliament on Wednesday approved a bill that sets up a panel to decide interest rates, bringing the central bank's policymaking process in line with that of its major global counterparts.
India's bid to bring home tycoon Mallya rebuffed; to keep trying India has failed in its initial attempt to secure the return of debt-strapped tycoon Vijay Mallya from Britain but New Delhi said on Wednesday it would continue to seek his repatriation to face his creditors.
GLOBAL TOP NEWS Brazil Senate debates impeachment trial as Rousseff's removal looms The Supreme Court rebuffed a last-ditch bid by President Dilma Rousseff to halt a vote in the Senate on Wednesday that is expected to put her on trial for breaking budget laws and end 13 years of leftist rule in Latin America's biggest country.
Nissan, Mitsubishi Motors confirm tie-up talks Nissan Motor Co and Mitsubishi Motors Corp confirmed they are discussing a possible capital tie-up, after sources said Nissan is in advanced talks to take a roughly one-third stake in its scandal-hit rival.
Australian PM Turnbull named in Panama Papers, denies wrongdoing Australian Prime Minister Malcolm Turnbull denied any wrongdoing after being been named in the Panama Papers as a former director of a British Virgin Islands company set up to exploit a Siberian gold prospect.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) The SGX Nifty Futures was trading at 7,841.00, down 0.40 pct from its previous close.
The Indian rupee will likely edge lower against the dollar, on expectations of weaker local shares as regional equity markets declined amid tepid risk appetite.
Indian government bonds will likely be rangebound in early trading, as investors may defer purchases ahead of the release of retail inflation data later today.The yield on the benchmark 7.59 pct bond maturing in 2026 is likely to trade in a 7.42 pct-7.46 pct range.
GLOBAL MARKETS U.S. stocks dropped on Wednesday and the Dow Jones industrial average suffered its worst day since February as feeble quarterly reports from Walt Disney, Macy's and Fossil undermined confidence across the consumer sector.
Asian shares fell following a dismal day on Wall Street, while crude oil futures gave back some of their overnight gains after jumping on an unexpected fall in U.S. crude inventories.
The dollar struggled to hold its own after its rebound from a near 1-1/2-year low against a basket of currencies run out of steam, with doubts over global growth prospects hobbling the U.S. currency.
Treasury yields fell on Wednesday after the U.S. government saw strong demand for its $23 billion auction of 10-year notes, the second sale of $62 billion in new coupon-bearing debt this week.
Oil prices fell early, weighed by the gradual return of Canadian oil sands production, reversing a sharp rise the previous day when the U.S. government detailed an unexpected fall in crude inventories.
Gold retreated on Thursday after rising the most since late April the session before as the dollar recovered some lost ground.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 66.58/66.61 May 11 -$54.4 mln -$65.35 mln 10-yr bond yield 7.61 pct Month-to-date $16.18 mln $39.00 mln Year-to-date $1.81 bln -$318.43 mln 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 = 66.56 Indian rupees) (Reporting by Nishit Kunal in Bengaluru)
