12:15 pm: Science & Technology and Earth Science Minister Harsh Vardhan briefs media on CSIR's endeavors to boost Indian leather industry in New Delhi.
3:00 pm: Food Processing Minister Harsimrat Kaur Badal to brief media on recently concluded Swachhta Pakhwada and other initiatives in New Delhi.
LIVECHAT with Holly Bell, Associate Professor, Business Administration and Economics, University of Alaska Anchorage Even as the Fed fund futures show a 71 percent chance of a rate hike in the December meeting, three of the Fed's own primary dealers, including HSBC, RBC and RBS, have warned that the U.S. central bank will remain on hold until 2017. Holly makes a return appearance on GMF at 1030 IST, to talk about Fed expectations after the November meeting. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS India to launch clean energy equity fund of up to $2 billion The Indian government and three state-run firms will jointly set up an equity fund of up to $2 billion for renewable energy companies to tap into to help New Delhi meet its clean energy goals, two government sources told Reuters on Wednesday.
Diplomatic spat between India and Pakistan worsens amid border tensions Pakistan may expel five Indian diplomats for espionage and has revealed their names, local media said on Wednesday, a move sure to exacerbate a rift between the nuclear-armed South Asian neighbours that has been widening for months.
Investors welcome India's new rules on rating agencies' disclosures Investors welcomed policies by India's capital markets regulator to tighten disclosure norms for credit ratings agencies as a much needed step to boost transparency and credibility in the country's young corporate debt markets.
S&P affirms India's rating, rules out upgrade this year or next Standard & Poor's affirmed India's sovereign ratings on Wednesday, welcoming its policy stability and improved monetary credibility, but ruled out any upgrade this year or in 2017 because of weak public finances and low per capita income.
GLOBAL TOP NEWS Fed holds rates steady, sets stage for December hike The Federal Reserve kept interest rates unchanged on Wednesday in its last policy decision before the U.S. election, but signaled it could hike in December as the economy gathers momentum and inflation picks up.
Alibaba beats revenue expectations with strong e-commerce, media growth Chinese online shopping giant Alibaba Group Holding Ltd reported a 55 percent rise in second-quarter revenue on Wednesday, beating analyst estimates on the back of core e-commerce sales and strong media and entertainment growth.
Facebook warns growth will slow, shares dip Facebook Inc shares tumbled 7 percent in after-hours trading on Wednesday as the world's largest online social media network warned that revenue growth would slow this quarter, offsetting strong earnings that handily beat Wall Street estimates.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) The SGX Nifty Futures were at 8,519.00, down 0.22 pct from its previous close.
The Indian rupee is expected open slightly higher against the dollar, tracking its Asian peers, as concerns about upcoming U.S. elections weighed on the greenback, even as the Federal Reserve hinted at a possible tightening move next month.
Indian government bonds will likely open steady to higher, tracking U.S. Treasury yields, after the Federal Reserve expectedly kept its policy rate unchanged. The yield on the benchmark 6.97 pct bond maturing in 2026 is likely to trade in a 6.79 pct - 6.84 pct band.
GLOBAL MARKETS The S&P 500 ended lower on Wednesday for a seventh straight session, its longest such streak in five years, as the Federal Reserve signaled it could hike interest rates in December and the uncertain U.S. election continued to cloud the market's outlook.
Asia shares joined the U.S. dollar on the defensive as the nail-biting U.S. presidential race saw the S&P 500 suffer its longest losing streak in five years as investors sailed to safer harbours The dollar nursed its losses as deepening concerns about next week's contentions U.S. presidential election overshadowed the Federal Reserve's latest review where policy makers signalled they were on track to hike rates next month.
U.S. Treasury yields fell to their lowest in a week on Wednesday as uncertainty ahead of next week's U.S. presidential election enhanced the appeal of safe-haven bonds, and the Federal Reserve did not commit to an imminent interest rate hike.
Crude oil prices rose as a weaker U.S. dollar buoyed sentiment in the market, lifting prices from five-week lows.
Gold held steady early, after rising as much as 1.5 percent in the previous session, as uncertainty over the outcome of the U.S. election offset signals from the Federal Reserve it could hike interest rates next month.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 66.77/66.80 November 2 -$100.01 mln $99.84 mln 10-yr bond yield 6.98 pct Month-to-date - $165.05 mln Year-to-date $6.75 bln -$883.31 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 = 66.71 Indian rupees) (Compiled by Sai Sharanya Khosla in Bengaluru)
