10:15 am: Axis Bank MD Shikha Sharma and LIC MD Usha Sangwan to speak at CII event in Mumbai.
GMF: ASIA LIVECHAT-POST-FED EM FOCUS: Batur Asmazoglu, Emerging Markets Portfolio Management, Myndos Capital Risk assets are on a roll even as fears of Fed rate hike continue. Batur, with more than a decade's experience in portfolio management, will join us at 1130 IST to share insights on emerging markets. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS Wal-Mart in talks to buy stake in India's Flipkart Wal-Mart Stores is in talks to buy a minority stake in India's largest e-commerce firm Flipkart, two sources familiar with the matter said, as the world's biggest retailer aims to get a slice of a fast-growing online retail market.
ING selling $300 mln Kotak Mahindra stake Dutch financial services company ING Group is selling a $300 million stake in Kotak Mahindra Bank in a block trade on Thursday, according to a deal term sheet seen by Reuters.
Liberty bid for two Tata Steel UK units worth nearly 100 mln pounds - source Industrial and commodity group Liberty House's bid for Tata Steel TISC.NS UK's speciality steel and pipe businesses is worth nearly 100 million pounds, an industry source told Reuters on Wednesday Endurance Tech sets price band for up to $175 million IPO Endurance Technologies, an Indian auto parts maker, has set a price band of 467-472 rupees a share for its initial public offering of shares next week that could raise as much as $175 million, the company said on Wednesday.
The cost of cheap drugs? Toxic Indian lake is "superbug hotspot" Medak is the heart of India's antibiotics manufacturing business: a district of about 2.5 million that has become one of the world's largest suppliers of cheap drugs to most markets, including the U.S. But community activists, researchers and some drug company employees say the presence of more than 300 drug firms, combined with lax oversight and inadequate water treatment, has left lakes and rivers laced with antibiotics, making this a giant Petri dish for anti-microbial resistance.
Pakistani rebel chief says would welcome help from arch-rival India The elusive leader of a major rebel group fighting for independence in Pakistan's Baluchistan province said he would welcome cash and other help from India, words likely to alarm Islamabad which accuses New Delhi of stirring trouble there.
Indian tax drive offers no absolution, to yield little cash for govt The Indian government has sent out about 700,000 notices to suspected tax evaders to coax them to declare hidden income and assets, promising they won't be pursued by the authorities if they pay a penalty now to clear their name.
GLOBAL TOP NEWS OPEC agrees modest oil output curbs in first deal since 2008 OPEC agreed on Wednesday modest oil output cuts in the first such deal since 2008, with the group's leader Saudi Arabia softening its stance on arch-rival Iran amid mounting pressure from low oil prices.
Fed's primal divide - Is economy overheating or stuck in a rut? Investors may be expecting a U.S. interest rate increase in December, but Federal Reserve policymakers remain divided over whether the economy is mired in a rut, strong enough to withstand an immediate hike or hovering somewhere in between.
Clinton enlists former foe Sanders in appeal for youth votes in U.S. presidential race U.S. Democratic presidential nominee Hillary Clinton shared a stage with former rival Senator Bernie Sanders on Wednesday to appeal for youth votes in the Nov. 8 election as opinion polls show a close race with Republican Donald Trump.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) The SGX Nifty Futures were at 8,795.50, up 0.4 pct from its previous close.
The Indian rupee will likely open higher against the U.S. dollar, as risk appetite improved after the Organization of Petroleum Exporting Countries' agreement to curb oil output lifted crude prices.
Indian sovereign bonds will likely edge higher, as investors continue to bet that the nation's central bank will ease rates next week. However, likely profit booking on the last trading day of the fiscal first half may cap gains. The yield on the benchmark 7.59 pct bond maturing in 2026 is likely to trade in a 6.90 pct - 6.94 pct band.
GLOBAL MARKETS Wall Street ended higher on Wednesday after an OPEC agreement to limit crude output fueled a rally in oil and more than offset nervousness about a tight race for the U.S. presidency.
Oil prices extended gains, boosting stock markets, after OPEC members agreed to curb output in a surprise deal, though investors were wary of chasing markets higher as the U.S. presidential election nears.
The U.S. dollar hit a roughly five-month low against the Norwegian crown and fell against other commodity-linked currencies after OPEC sources told Reuters the producing group agreed to reduce its oil output.
U.S. long-dated Treasury debt yields edged higher on Wednesday, boosted by a Reuters report that OPEC has reached a deal to limit oil production, with the agreement to be implemented in November.
Gold prices inched up as the dollar slipped following a deal by oil producers to curb output.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 66.36/66.39 September 28 $11.12 mln $1.22 bln 10-yr bond yield 6.97 pct Month-to-date $769.80 mln $2.35 bln Year-to-date $6.88 bln $880.48 mln 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 = 66.46 Indian rupees) (Compiled by Debanjan Bose in Bengaluru)
