11:00 am: Monsoon session of Parliament begins in New Delhi.
12:15 pm: Equitas Small Finance Bank to launch digital banking services in Mumbai.
2:00 pm: ICICI Prudential annual shareholders meeting in Mumbai.
4:00 pm: Junior Earth Sciences Minister Y.S. Chowdary at an event in New Delhi.
LIVECHAT - GCC OUTLOOK Riad al Khouri, Director of Middle East, GeoEconomica GmbH, joins the forum with his insights on the unfolding political situation in the Gulf at 2:30 pm IST. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS • Infosys manages slight Q1 profit increase, labour costs cloud outlook Infosys Ltd, India's No. 2 software services exporter, eked out a slight rise in first-quarter profit, although the outlook for more earnings gains remains cloudy due to higher labour costs and unfavorable currency rates.
• Trade deficit narrows to $13 billion in June -govt India's trade deficit narrowed more-than-expected to $12.96 billion in June as gold imports nearly halved from a month earlier, government data showed on Friday.
• BPCL makes its first U.S. oil purchase, buys Mars, Poseidon India's Bharat Petroleum Corp has made its first purchase of U.S. oil, buying high sulphur crudes Mars and Poseidon in a tender, its head of refineries R. Ramachandran said.
• ICICI Lombard files for first Indian IPO by a non-life insurer India's ICICI Lombard General Insurance Co Ltd has filed for an initial public offering of shares in what would be the first IPO by a non-life insurance company in Asia's third-largest economy.
• TCS sees big opportunity in manufacturing, life sciences India's top IT services company Tata Consultancy Services Ltd is moving to capitalize on growth opportunities in areas such as life sciences and manufacturing, Chief Executive Rajesh Gopinathan said on Friday.
• WPI inflation eases to 0.9 percent y/y in June - govt India's wholesale prices further eased to 0.9 percent year-on-year in June, government data showed on Friday, in line with the decline in retail inflation.
• Australia in final stages of mulling loan for Adani Adani Enterprises' $4 billion Carmichael coal mine in Australia's north is one of five projects that have been shortlisted for potential government funding, a source with direct knowledge of the matter said on Friday.
• Finance veteran Vikram Limaye to take over as NSE CEO Vikram Limaye, former head of infrastructure lender IDFC Ltd, will take over as the next managing director and chief executive of the National Stock Exchange on Monday, the country's largest bourse said.
GLOBAL TOP NEWS • China Q2 GDP growth beats expectations on strong factory output China's economy grew faster than expected in the second quarter as industrial output picked up and investment remained strong, though analysts expect growth to slow over the remainder of the year as policymakers seek to reduce financial risk.
• U.S. Secret Service rejects suggestion it vetted Trump son's meeting The U.S. Secret Service on Sunday denied a suggestion from President Donald Trump's personal lawyer that it had vetted a meeting between the president's son and Russian nationals during the 2016 campaign.
• South Korea proposes military, family reunion talks with North Korea South Korea proposed military talks with North Korea this week, the first government-level talks since late 2015, in an effort to halt hostile activities near their joint border and after a series of missile tests by the North in recent weeks.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) • The SGX Nifty Futures were at 9,942.00, up 0.40 percent from previous close.
• The Indian rupee will likely edge higher against the dollar in early trade, in line with Asian peers, as weaker-than-expected U.S. economic data dimmed chances of another Federal Reserve rate hike this year, hurting the greenback.
• Indian government bonds are likely to open higher, tracking a fall in U.S. Treasury yields, after weaker-than-expected data raised doubts on the timing of the Federal Reserve's next rate hike. The yield on the benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 6.44 percent-6.48 percent band today.
GLOBAL MARKETS • The Dow and S&P 500 hit record highs on Friday after weak economic data dulled prospects of more interest rate hikes this year.
• Asian stocks mostly rose, spurred by record high closes for the Dow and S&P 500 on bets that the Federal Reserve's policy will remain accommodative following lacklustre U.S. data, which sent the dollar reeling to a 10-month low.
• The dollar huddled near a 10-month trough as the diminished risk of aggressive U.S. policy tightening sent investors piling into leveraged positions in higher yielding currencies or risky assets.
• U.S. Treasury yields dropped to multi-week lows on Friday as benign U.S. inflation data in June and surprise fall in retail sales clouded expectations about an interest rate increase later this year.
• Oil prices firmed, supported by a slowdown in new rigs looking for crude and a perception of strong demand.
• Gold prices rose as the dollar fell to multi-month lows following weak economic data from the United States that has diminished the outlook for aggressive rate hikes from the U.S. Federal Reserve.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 64.43/64.46 July 14 -- $51.82 mln 10-yr bond yield 6.84 pct Month-to-date -$147.23 mln $1.49 bln Year-to-date $8.44 bln $19.49 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 = 64.45 Indian rupees) (Compiled by Benny Thomas in Bengaluru)
