GMF: EQUITIES WATCH Join our Reuters correspondents in London and New York at 6:30 pm IST for a discussion on the stock markets and company earnings.. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS • Infosys sticks to revenue growth guidance as quarterly profit rises Infosys retained its revenue forecast for the current financial year, with the chief of India's second largest IT firm saying the demand for its services remained strong.
• India's cenbank lays out rules to make mobile wallet payments seamless India's central bank on Tuesday laid out guidelines that would allow for seamless payments between different mobile wallets, in a move that could further boost the use of digital payments in the country.
• Amazon likely to buy 7-8 percent stake in Future Retail - TV Amazon.com is likely to buy an at least 7 percent to 8 percent stake in Future Retail through an investment arm, CNBC-TV 18 reported, citing sources.
• MRPL expects India to get waiver from U.S. sanctions on Iran this month - official Mangalore Refinery and Petrochemicals (MRPL) expects India to get a waiver from U.S. sanctions on Iranian oil exports this month, a company official said on Tuesday.
• Hero MotoCorp quarterly profit drops 3 percent Hero MotoCorp, the world's largest two-wheeler maker, posted a 3.4 percent drop in quarterly profit on Tuesday, hurt by higher expenses amid a depreciating rupee.
• India may look to raise 200 billion rupees via buybacks in state-run companies- TVs India may look to raise 200 billion rupees in 2018/19 fiscal year via buyback of shares in state-run companies including Oil and Natural Gas Corp Ltd, local TV channels reported on Tuesday, citing government sources.
• India aims to cut stubble burning in key states by 70 percent, but experts sceptical India aims to reduce stubble burning, a major source of pollution during the winter months, by 70 percent in its top two farm states this year, a top government official said on Tuesday, but experts questioned whether the target was credible.
• Tensions rise at Indian temple over entry of menstrual-age women Tensions rose at an Indian hill temple on Tuesday before an expected face-off between women of menstrual age who can enter for the first time in centuries and conservative Hindu groups who want to stop them.
GLOBAL TOP NEWS • Trump gives Saudi Arabia benefit of doubt in journalist's disappearance U.S. President Donald Trump gave Saudi Arabia the benefit of the doubt in the disappearance of journalist Jamal Khashoggi even as U.S. lawmakers pointed the finger at the Saudi leadership and Western pressure mounted on Riyadh to provide answers.
• Equity trading strength boosts profits at Morgan Stanley, Goldman Wall Street's top investment banks reported better-than-expected quarterly profits on Tuesday, helped by strength in stock trading and equity underwriting, wrapping up what has been a strong quarter for the big U.S. banks.
• Uber IPO proposals value company at $120 billion - WSJ Ride-hailing company Uber could be valued at $120 billion, when it finally goes public next year according to proposals made by U.S. banks bidding to run the offering, the Wall Street Journal reported on Tuesday.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) • SGX Nifty nearest-month futures were 1.1 percent higher at 10,696.00, form its previous close.
• The Indian rupee is expected to open higher against the dollar following the biggest gains on Wall Street in more than six months, which helped boost demand for regional assets.
• Indian government bonds will likely rise today as the central bank buys notes through an open market operation and as the local currency is expected to gain amid improved global risk appetite. 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 surged more than 2 percent on Tuesday after upbeat earnings reports from major companies including UnitedHealth and Goldman Sachs and solid economic data, as equities rebounded from a recent sharp sell-off.
• Asian equities got some welcome relief after upbeat U.S. earnings reports drove a rebound on Wall Street and helped restore a little faith in emerging market stocks and currencies.
• The dollar was little changed against most of its major peers but made gains against the yen as upbeat Wall Street earnings turned global sentiment away from safe haven assets.
• U.S. Treasury yields were little changed on Tuesday as the bond market settled into a tight trading range in the aftermath of wild swings stemming from worries about inflation and a rout across global equities.
• U.S. oil prices extended gains after industry data showed a surprise decline in U.S. crude inventories.
• Gold prices held steady despite a rise in equities, with investors waiting for minutes from the U.S. Federal Reserve's latest policy meeting for any fresh clues on the pace of interest rate hikes.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 73.65/73.68 October 16 -$158.73 mln $558.89 mln 10-yr bond yield 7.87 pct Month-to-date -$2.35 bln -$921.20 mln Year-to-date -$4.52 bln -$7.67 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 = 73.4600 Indian rupees) (Compiled by Debanjan Bose in Bengaluru)
