11:00 am: Minister for Petroleum & Natural Gas and Skill Development & Entrepreneurship Dharmendra Pradhan at inauguration of Skill Development Centre in New Delhi.
11:30 am: Mahindra & Mahindra MD Pawan Goenka and Energy Efficiency Services Ltd. MD Saurabh Kumar to announce public-private partnership to adopt energy efficiency measures in Mumbai.
LIVECHAT- JAPAN ELECTIONS A victory is widely expected for Abe and his Liberal Democratic Party in Sunday's election, but Japan watchers are curious how voters react to Tokyo Governor Yuriko Koike and her new Party of Hope. Reuters chief political correspondent Linda Sieg in Tokyo will discuss the implications of election outcome at 9:00 am IST. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS • India says ready for stronger U.S. ties after Tillerson endorsement India stood ready to further strengthen ties with the United States, the government said on Friday, after U.S. Secretary of State Tillerson vowed to dramatically expand cooperation as a way to counter China's influence in Asia.
• RBI says linking national ID number to bank accounts mandatory The Reserve Bank of India on Saturday dismissed media reports that it was not necessary to link national identity card numbers, known as Aadhaar numbers, to bank accounts.
• Workers at Tata Steel's Dutch arm oppose Thyssenkrupp merger The works council of Tata Steel Netherlands said on Friday it opposed preliminary plans by Tata Steel and Thyssenkrupp to combine their European steelmaking operations into a joint venture (JV) and would fight to block it if necessary.
• RBI worried about rise in inflation - minutes Worry that rising consumer prices will threaten the Indian central bank’s inflation target of 4 percent led the majority of the Reserve Bank of India’s monetary policy committee to vote to keep rates steady, according to minutes issued on Wednesday.
• India's tightened consumer goods standards could hurt China imports India is tightening quality controls for consumer and capital goods, officials say, a move that follows calls to curb cheap imports from China amid diplomatic tensions between the world's two most populous nations over their shared border.
• India tightens gold import norms for export houses India tightened gold import norms for export houses by restricting them from importing the yellow metal only for export purposes and not for selling in the domestic market, the government said in a circular on Wednesday.
• Bangladesh set to sign 15-year gasoil import deal with India Bangladesh Petroleum Corp is set to sign a 15-year deal with Indian oil refiner Bharat Petroleum Corp Ltd to import gasoil to meet the country's energy demand, two company officials with the direct knowledge of the matter said.
GLOBAL TOP NEWS • Abe to push reform of Japan's pacifist constitution after election win Japanese Prime Minister Shinzo Abe's ruling bloc scored a big win in Sunday's election, bolstering his chance of becoming the nation's longest-serving premier and re-energising his push to revise the pacifist constitution.
• Noble Group to sell oil liquids business to Vitol, flags big Q3 loss Struggling commodities trader Noble Group agreed to sell its Americas-focused oil liquids business to Vitol for about $580 million as part of a debt-cutting strategy, and warned of a big loss for its third quarter.
• Spain urges Catalonia secessionists to obey Madrid The Spanish government has urged Catalans to accept Madrid's decision to dismiss their secessionist leadership and to take control of the restive region, as the nation's biggest political crisis in decades enters a decisive week.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) • The SGX Nifty Futures were trading at 10,181.50, trading up 0.14 percent from its previous close.
• Indian government bonds are likely to open lower after minutes from the Monetary Policy Committee’s October meeting underscored a hawkish stance by the panel amid concerns about inflation. The yield on the benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 6.77 percent-6.82 percent band.
• The Indian rupee will likely open flat-to-lower against the dollar in early trade, in line with Asian peers, tracking broad dollar strength after the U.S. Senate passed a budget for next year, making way for potential tax reforms.
GLOBAL MARKETS • U.S. stocks hit record closing highs on Friday and the S&P 500 posted a sixth week of gains after the U.S. Senate passed a budget resolution, lifting hopes that President Donald Trump's tax-cut plan may move forward.
• Japanese shares jumped on a weaker yen as an election win for Shinzo Abe's ruling bloc gave a green light for more super-easy policy stimulus, while the euro eased as Spain's constitutional crisis aggravated concerns about political unity in the region.
• The dollar edged up to a three-month high against the yen, with an emphatic election victory for Japan's ruling party keeping yen-weakening reflationary measures at the heart of government policy.
• U.S. Treasury yields rose on Friday, with two-year yields reaching a near nine-year high, as investors reduced bond holdings on worries about more inflation and federal borrowing after the U.S. Senate passed a budget resolution.
• Oil prices rose over supply concerns in the Middle East and as the U.S. market showed further signs of tightening while demand in Asia keeps rising.
• Gold prices hit their lowest in over two weeks, as the dollar climbed to a more than three-month high versus the yen after Japan's ruling bloc scored a big win in Sunday's election.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 65.08/65.11 October 18 -$192.37 mln -$11.53 mln 10-yr bond yield 6.93 pct Month-to-date -$688.50 mln $1.78 bln Year-to-date $4.66 bln $25.07 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 = 65.03 Indian rupees) (Compiled by Shradha Singh in Bengaluru)
