6:15 pm: RBI Deputy Governor Viral Acharya to deliver the A.D. Shroff Memorial Lecture in Mumbai.
INDIA TOP NEWS • Carmaker Maruti Suzuki may struggle to hit sales target as profits slide Maruti Suzuki India may find it tough to meet its 10 percent sales growth target for the current fiscal year, its chairman said, after the carmaker reported a fall in quarterly profit for the first time in more than four years.
• Bharti Airtel September-quarter profit plunges on pricing pressure Bharti Airtel posted a 65.4 percent fall in quarterly profit on Thursday, as it faces pricing pressure amid aggressive competition in the country's telecom sector.
• JSW Steel Q2 profit beats forecasts on higher output, prices Indian steelmaker JSW Steel said on Thursday net profit more than doubled in the second quarter, handily beating market estimates on the back of higher steel prices and strong production growth.
• InterGlobe shares drop after first quarterly loss since debut Shares of InterGlobe Aviation, owner of India's largest domestic carrier by market share - IndiGo, fell as much as 3.7 percent on Thursday, a day after the company posted first-ever quarterly loss since its market debut in 2015.
• Essar Steel India proposes $7.42 billion settlement to creditors Essar Steel India said its board and shareholders have offered to pay 543.89 billion rupees to creditors to settle their claims, allowing the company to exit from a bankruptcy process.
• Biocon Q2 profit surges on one-off gain Indian biotechnology company Biocon posted an over five-fold rise in second-quarter profit on Thursday, as the company recorded a one-off gain of 1.89 billion rupees.
• Yes Bank Q2 profit misses estimates as provisions surge Yes Bank missed second-quarter profit estimates by a wide berth on Thursday as provisions for bad loans and mark-to-market losses more than doubled, exacerbating woes at the bank in search of a new CEO.
• BHEL Q2 profit soars, but lags forecast State-run power plant equipment manufacturer Bharat Heavy Electricals Ltd posted on Thursday a 60 percent surge in second-quarter profit, but missed analysts' estimates.
GLOBAL TOP NEWS • FBI searches Florida mail center in hunt for sender of package bombs Federal agents searched a U.S. mail facility near Miami on Thursday night racing to find who sent 10 pipe bombs to prominent Democrats and critics of U.S. President Donald Trump as leads pointed to Florida as the possible origin of the packages.
• INSIGHT-AB InBev told Indian authorities about cartel, triggering anti-trust probe An Indian anti-trust probe into beer price-fixing allegations was initiated after the world's largest brewer Anheuser-Busch InBev told the authorities last year it had detected an industry cartel, three people familiar with the matter told Reuters.
• Amazon's holiday season sales outlook misses views; shares sink Amazon.com forecast holiday season sales and profit that missed Wall Street targets on Thursday, projecting revenue growth that would be the slowest in years, sending shares of the world's largest online retailer down 8 percent in after-hours trade.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) • SGX Nifty nearest-month futures were 0.2 percent lower at 10,166.50, from its previous close.
• The Indian rupee is expected to open lower against the dollar as the Chinese yuan’s fall to near-two-year lows adds pressure on regional currencies.
• Indian government bonds are likely to edge lower tracking losses in the local currency ahead of a weekly auction of notes. The yield on the benchmark 7.17 percent bond maturing in 2028 may trade in a 7.84 percent-7.90 percent band today.
GLOBAL MARKETS • U.S. stocks jumped on Thursday, giving the Nasdaq its biggest daily gain since March, as Microsoft's upbeat earnings spurred a rebound in technology names and investors snapped up oversold shares.
• Asian shares wobbled in early trade, struggling to shake off the previous day's global markets rout, after weak results from tech giants Alphabet and Amazon.com heightened concerns over world trade and economic growth.
• The dollar traded in tight ranges against most of its peers as investor appetite for riskier assets remained shaky while the euro stayed near two-month lows after the European Central Bank failed to convince markets that rates would rise.
• U.S. Treasury yields rose from three-week lows on Thursday as equities gained, though anxiety about ongoing stock volatility was seen supporting a bid for safe-haven U.S. government debt • Oil prices eased and were heading for a third weekly loss after Saudi Arabia's OPEC governor said the market could be heading into oversupply, as growth concerns took a hit with a slump in global equities this week.
• Gold prices held steady as a bounce back in U.S. stocks failed to stimulate its Asian counterparts, with the metal on track to rise for the fourth straight week, its longest string of weekly gains since January.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 73.20/73.23 October 25 -$204.32 mln $161.41 mln 10-yr bond yield 7.87 pct Month-to-date -$2.87 bln -$1.57 bln Year-to-date -$5.04 bln -$8.32 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 = 73.2200 Indian rupees) (Compiled by Debanjan Bose in Bengaluru)
