11:00 am: Textile Minister Smriti Irani at IHGF Delhi Fair Autumn Exhibition in New Delhi.
1:45 pm: IndusInd Bank MD Romesh Sobti to discuss Q2 results and outlook for next FY in Mumbai.
3:00 pm: Tourism Minister Alphons Kannanthanam to be chief guest at Blind Walk 2017 in New Delhi.
5:00 pm: Godrej Consumer Products Executive Chairperson Nisaba Godrej and VIP Industries MD Radhika Piramal at an event in Mumbai.
5:15 pm: Tata Consultancy Services Q2 results briefing in Mumbai.
5:30 pm: Government to release September consumer price inflation data in Mumbai.
5:30 pm: Government to release August industrial output data in Mumbai.
LIVECHAT- FRONTIER MARKETS We get an outlook for frontier markets with Gavin Serkin, managing editor of Frontier Funds and author of "Frontier: Exploring the Top Ten Emerging Markets of Tomorrow" at 2:30 pm IST. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS • Ola raises $1.1 billion in Tencent, SoftBank-led round, seeks another $1 billion Indian ride-hailing firm Ola has raised $1.1 billion from investors led by China's Tencent Holdings and Japan's SoftBank Group and is in advanced talks with other investors for another $1 billion.
• EXCLUSIVE-Monsanto settles GM cotton dispute with three Indian seed firms Three leading Indian cotton seed makers have settled an intellectual property dispute with Monsanto Co over its genetically modified seed technology, partly ending a legal tussle that has drawn in the Indian and U.S. governments.
• India investors eye tax overhaul impact on July-Sept corporate earnings Profits from India's top firms are expected to have swung back to growth in July-September from a decline in the previous quarter, though economic headwinds are likely to have kept the pace of growth sluggish.
• Jet Airways confirms order for 75 Boeing aircraft Jet Airways said on Wednesday it had agreed to buy 75 Boeing 737 Max aircraft, and that it could purchase another 75 to help it expand in a booming Indian market.
• Indian state-run GIC Re's $1.75 billion IPO subscribed nearly 80 percent on first day State-run reinsurer General Insurance Corp of India's initial public offering of shares to raise 113.73 billion rupees was subscribed nearly 80 percent on the first day of the sale on Wednesday, stock exchange data showed.
• Lakshmi Vilas Bank CEO sees bad loan additions falling sharply Indian private sector lender Lakshmi Vilas Bank Ltd expects bad loan additions in the second-half of the fiscal year to be less than half of the about 9 billion rupees it added in the first six months to September, Chief Executive Parthasarathi Mukherjee told Reuters.
• Bharti Airtel ties up with handset maker to launch cheaper 4G smartphone Bharti Airtel Ltd, India's top telecom operator, said on Wednesday it had partnered with handset maker Karbonn Mobiles to introduce a 4G-enabled smartphone at the price of a feature phone.
• India, Japan to team up to get more flexible LNG deals India will work with Japan to make long-term liquefied natural gas import deals more affordable for its price-sensitive consumers, it said on Wednesday, as these two big importers try to secure better prices and concessions from suppliers.
GLOBAL TOP NEWS • Trump says open to bilateral Canada, Mexico pacts if NAFTA talks fail U.S. President Donald Trump said on Wednesday he was open to bilateral trade pacts with either Canada or Mexico if a three-way deal cannot be reached to substantially revise the North American Free Trade Agreement.
• BlackRock closes in on $6 trillion in assets as index funds boom BlackRock Inc is closing in on an industry-record $6 trillion in assets under management as investors storm into the company's index funds and the bull market in U.S. stocks rages on.
• Toyota plans to halve Japan car models by 2025 - source Toyota Motor Corp is planning to halve the number of cars it sells in Japan to about 30 by 2025 to focus on more popular models in a shrinking market, a person briefed on the matter told Reuters.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) • The SGX Nifty Futures were at 10,018.50, trading up 0.30 percent from its previous close.
• Indian government bonds are likely to trade steady as investors await the September inflation data due later today, even as fresh supply weighs on sentiment. The yield on the benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 6.71 percent-6.76 percent band.
• The Indian rupee will likely edge lower against the dollar in early trade, despite the greenback’s slide to a more-than-two-week low, as the Federal Reserve’s September meeting minutes revealed policy makers believed rate hikes before the year-end were warranted even with concerns over weak inflation.
GLOBAL MARKETS • Major stock indexes edged up to post record closing highs on Wednesday with sector moves in the S&P 500 showing preference toward so-called defensive stocks.
• Asian stocks were near a decade high, riding the bull run in global equity markets, while the dollar sagged after the Federal Reserve showed a guarded view towards inflation.
• The dollar hit a two-week low versus a basket of currencies, after minutes from the U.S. Federal Reserve's latest meeting suggested some central bankers are still concerned about persistently low inflation.
• U.S. Treasury prices were little changed on Wednesday after minutes from the Federal Reserve’s September meeting were in line with expectations and after the Treasury Department saw solid demand for three-year and 10-year note supply.
• Oil prices eased as U.S. fuel inventories rose despite efforts by OPEC to cut production and tighten the market.
• Gold prices were up slightly, extending gains from the previous session amid a muted U.S. dollar after minutes from the U.S. Federal Reserve's September policy meeting revealed low inflation concerns.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 65.20/65.23 October 11 -$16.58 mln $33.77 mln 10-yr bond yield 6.97 pct Month-to-date -$524.67 mln $1.60 bln Year-to-date $4.83 bln $24.88 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 = 65.1500 Indian rupees) (Compiled by Shradha Singh in Bengaluru)
