TRADING INDIA FORUM- India's MF Industry with Manoj Nagpal, outlook Asia Capital SEBI's initiative to deepen the reach of MF's in India was applauded when they were introduced around 2-1/2 year ago. While the metros, continue to lead in investments, it is the non-metros that might hold potential for a country in which less than 2% invest in the stock markets. We speak to Manoj Nagpal from Outlook Asia Capital at 1100 IST on how MF's can be sold more effectively and whether making management compensation public is really a right step in the long run? To join the Trading India Forum, click on the link: https://forms.thomsonreuters.com/communities/">https://forms.thomsonreuters.com/communities/ GMF:ASIA LIVECHAT - MARKETS AND MACROS with Bernd Broker, Global Head of FX, Unicredit Bernd joins us at 1200 IST to talk currencies, especially his outlook on the dollar, which seems to be entering a technical bear phase. We'll also ask him if he thinks Fed rate hike epectations have now moved to September, and how that'll bode for currencies. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/">https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS JSW Steel bids for Tata UK assets - sources JSW Steel Ltd has bid for the British operations of Tata Steel Ltd, two sources with direct knowledge of the matter confirmed on Tuesday, prompting concerns about its debt levels and putting pressure on its shares.
RBI governor says helicopter money no panacea RBI Governor Raghuram Rajan said on Tuesday that he had doubts "helicopter money", or free cash given directly to citizens to stimulate growth, would be successful if adopted by developed world policymakers.
India Patent Office approves Gilead's hepatitis C drug patent India has reversed course and granted approval to Gilead Sciences Inc's patent for its hepatitis C drug Sovaldi, marking a setback for patient groups who said the move could stop affordable copies of the drug.
India to tax Mauritius investments for first time since 1983 India will start imposing capital gains tax on investments coming from Mauritius starting next year, after the two countries agreed to amend a three-decade old treaty that brought in billions of dollars in investment but was suspected of abetting tax evasion.
RBI Governor: Need to increase EM coordination during crisis Central banks across emerging market nations need to find ways to coordinate strategies during times of crisis, Indian Central Bank Governor Raghuram Rajan said on Tuesday.
India to launch auction of 67 small oil, gas fields on May 25 India will launch an auction of 67 discovered small oil and gas fields on May 25, the country's upstream regulator Directorate General of Hydrocarbons said on Tuesday.
GLOBAL TOP NEWS Clinton loses to Sanders in coal state of West Virginia U.S. Democratic presidential candidate Bernie Sanders defeated Hillary Clinton on Tuesday in West Virginia's primary, winning over voters deeply skeptical about the economy and signaling the difficulty Clinton may have in industrial states in the general election.
Obama to visit Hiroshima, will not apologize for World War Two bombing Barack Obama will become the first U.S. president to visit Hiroshima in Japan later this month, but he will not apologize for the United States' dropping of an atomic bomb on the city at the end of World War Two, the White House said on Tuesday.
Brazil's Rousseff makes final survival bid as Senate poised to oust her Brazilian President Dilma Rousseff took her battle to survive impeachment to the country's Supreme Court on Tuesday, in a last-ditch attempt to stay in office a day before the Senate will likely vote to put her on trial for breaking budget laws.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) The SGX Nifty Futures was trading at 7,815.50, down 1.31 pct from its previous close.
The Indian rupee is poised to open lower against the U.S. dollar, as the federal government's move to start imposing capital gains tax on investments from Mauritius is expected to weigh on sentiment.
Indian government bonds are likely to trade sideways in early session amid lack of fresh cues. However, weakness in the rupee may hit appetite for notes. The yield on the benchmark 7.59 pct bond maturing in 2026 is likely to trade in a 7.41 pct-7.46 pct range.
GLOBAL MARKETS U.S. stocks rose across the board on Tuesday, with a jump in oil and a rally in Amazon.com helping propel the S&P 500 to its best day in two months.
Asian stocks pulled away from eight-week lows, a day after solid corporate earnings sparked a rally in global equities while the yen struggled amid intervention warnings from Tokyo in the wake of the currency's rapid rise.
The yen stayed on the defensive early, following two sessions of steep declines after Japanese officials stepped up their warning about intervening to weaken the currency.
The U.S. government saw strong demand for its $24 billion auction of three-year notes on Tuesday, the first sale of $62 billion in coupon-bearing debt supply this week.
Oil prices dipped as Canadian oil sand production was expected to gradually ramp up following forced closures due to wildfires, and as record crude inventories especially in the United States put pressure on markets.
Gold held not far off a two-week low early, pressured by a firmer dollar and equities as robust corporate earnings reports lifted global stocks.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 66.66/66.69 May 10 $49.3 mln $5.99 mln 10-yr bond yield 7.61 pct Month-to-date -$41.28 mln $104.35 mln Year-to-date $1.76 bln -$253.08 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 = 66.67 Indian rupees) (Reporting by Nishit Kunal in Bengaluru)
