03:00 pm: Power Minister R.K. Singh at the signing of Power Sale Agreements with state utilities in New Delhi.
LIVECHAT - WEEKAHEAD Reuters EMEA markets editor Mike Dolan discusses the upcoming week's main market inflection points at 04:30 pm IST. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS • India bars defaulting company owners from bidding to buy back assets India tightened its fledgling bankruptcy and insolvency rules on Thursday, potentially barring owners of 12 of the country's biggest loan defaulters from bidding to buy back their assets when they are auctioned as part of bankruptcy proceedings.
• India pares back planned funding for crucial public health scheme India has approved a three-year budget for its flagship public health programme almost 20 percent lower than what the health ministry said was needed, according to sources and previously unreported government documents reviewed by Reuters.
• SBI Life bets on metals, oil and gas sectors for investment growth India's SBI Life Insurance Co. Ltd has increased investments in the metals, oil and gas sectors as a rise in energy and metals prices is set to drive growth in commodity stocks, the insurer's chief investment officer told Reuters.
• Insurer Aviva India turns to state-run banks on recapitalisation plan boost Aviva Plc's India life insurance joint venture is raising its exposure to the country's state-run banks as it bets the government's $32 billion plan to rescue lenders burdened with record bad loans will boost their prospects.
• Bharat Petroleum launches two new LNG tenders for supply-trade sources Bharat Petroleum launched a tender seeking a spot liquefied natural gas (LNG) cargo for delivery in January and a separate tender for three cargoes for May, August and October, trade sources said.
• Indian refiners processed record oil volume in October -govt Indian refiners processed a record 5.2 million barrels per day of oil in October as the world's third biggest oil consumer added extra capacity to meet the rising fuel demand, government data showed on Thursday.
• India sets curbs on onion exports as prices surge India set a minimum price of $850 per tonne for overseas sale of onions, a government order said on Thursday, as the price of the politically-sensitive vegetable surged to its highest in two years in the local market.
• India cotton exports to drop as pink bollworms eat crop India is likely to export nearly one-fifth less cotton than previously estimated as pink bollworms are set to eat into the south Asian country's output which was expected to hit a record, industry officials told Reuters on Thursday.
GLOBAL TOP NEWS • Uber told SoftBank about data breach before telling public Uber Technologies Inc said on Thursday that it discussed a massive data breach with potential investor SoftBank Group Corp ahead of going public with details of the incident on Tuesday.
• Japan Nov manufacturing activity grows at fastest pace in over 3 years - flash PMI Japanese manufacturing activity expanded at the fastest pace in more than three years in November as output, new orders, and new export orders all accelerated in a sign the economy will continue its growth streak, a preliminary survey showed on Friday.
• Mnangagwa the "Crocodile" to be sworn in as Zimbabwe's president Emmerson Mnangagwa will cap a stunning political comeback when he is sworn in as Zimbabwe's president on Friday, bringing the final curtain down on the 37-year rule of Robert Mugabe.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) • The SGX Nifty Futures were trading at 10,365.00, down 0.06 percent from its previous close.
• Indian government bonds are likely to fall today ahead of a fresh supply of bonds, even as the central bank’s bond conversions weigh on demand, traders said. The yield on the benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 6.95 percent -7.01 percent band until some news on the ratings.
• The Indian rupee will likely open little changed against the dollar, as investors await fresh cues from global and domestic markets.
GLOBAL MARKETS • U.S. stocks were little changed on Wednesday, with telecom services shares among the biggest movers while the energy sector rose in line with gains in crude oil.
• Asian shares hovered below their 10-year peak on Friday while investors viewed Chinese shares with caution after their big fall the previous day.
• The dollar wobbled in thin trading on Friday, on track for losses against most rivals in a holiday-shortened week as it remained under pressure on the Federal Reserve's cautious view on low U.S. inflation.
• U.S. Treasury prices gained slightly after the minutes from the Federal Reserve’s latest meeting on Wednesday affirmed market expectations that it will hike rates in December, with trading volumes subdued before Thursday’s Thanksgiving holiday.
• U.S. crude oil hit fresh two-year highs on Friday, as the shutdown of a major crude pipeline from Canada to the United States tightened North American markets.
• Gold prices inched up on Friday as the dollar remained under pressure after minutes of the U.S. Federal Reserve's meeting revealed that some policymakers were concerned over lower inflation.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 64.74/64.77 November 23 $11.34 mln -$42.43 mln 10-yr bond yield 7.12 pct Month-to-date $2.33 bln -$131.63 mln Year-to-date $7.97 bln $25.81 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 = 64.5550 Indian rupees) (Compiled by Nachiket Tekawade in Bengaluru)
