12:00 pm: Power Minister Piyush Goyal to speak at an event in New Delhi.
3:00 pm: Capital First annual shareholders meeting in Mumbai.
5:00 pm: Finance Minister Arun Jaitley, SBI Chairman Arundhati Bhattacharya at SBI Banking Conclave in Mumbai.
6:30 pm: Finance Minister Arun Jaitley at an event in Mumbai.
LIVECHAT - EM OUTLOOK As developed markets continue to have a turbulent time with political risk, we take a look at emerging markets 20 years after the Asian Financial Crisis at 2:30 pm IST. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS • NTPC bets $10 billion on coal power despite surplus, green concerns India's state-run power utility plans to invest $10 billion in new coal-fired power stations over the next five years despite the electricity regulator's assessment that thermal plants now under construction will be able to meet demand until 2027.
• Thyssenkrupp optimistic over Tata's UK pension deal but merger risks remain Germany's Thyssenkrupp is optimistic about progress made by Tata Steel to restructure its UK pensions liabilities, investors and analysts say, but there are still issues to overcome before the two can merge their European steel assets.
• Snapdeal rejects $700-$800 million Flipkart bid -report The board of Indian online marketplace Snapdeal has rejected a bid worth $700-$800 million from Flipkart after due diligence by its bigger rival, Mint newspaper reported on Tuesday.
• Indian Oil plans to buy North American sour crude for the first time India's top refiner has issued its first tender to buy high-sulphur, or sour, crude from North America as it seeks to diversify imports, three trading sources said on Tuesday.
• Indian refiners tap spot crude market to feed increased capacity Indian companies have stepped up purchases of high-sulphur crude oil from the Middle East and Russia in the spot market to feed demand from expanded refining capacity, trade sources said.
• Credit Suisse to transfer 58 IT jobs to outsourcing firm Credit Suisse has told 58 of its IT workers they will be transferred to Indian computer services company HCL Technologies as Switzerland's second biggest bank presses ahead with its cost cutting drive.
GLOBAL TOP NEWS • North Korea says its ICBM can carry nuclear warhead; U.S. calls for global action North Korea said its newly developed intercontinental ballistic missile can carry a large nuclear warhead, triggering a call by Washington for global action to hold it accountable for pursuing nuclear weapons.
• China's services sector loses steam in June - Caixin PMI China's services sector grew at a slower pace in June as new orders slumped, signalling renewed pressure on businesses after a pickup in May and pointing to a softening outlook for the economy, a private business survey showed.
• Pressure builds on Trump at home over pledge for closer Moscow ties During his presidential campaign, Republican Donald Trump praised Russian President Vladimir Putin as a "strong leader" with whom he would like to reset tense U.S.-Russian relations.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) • The SGX Nifty Futures were at 9,621.50, down 0.03 percent from previous close.
• The Indian rupee will likely edge lower against the dollar in early trade, amid subdued risk appetite on growing geopolitical tensions after North Korea yesterday said it had conducted a successful test of its intercontinental ballistic missile.
• Indian government bonds are expected to trade largely unchanged ahead of debt auctions over the rest of the week, even as investors await the minutes of the U.S. Federal Reserve’s latest meeting due later today. The yield on the benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 6.52 percent-6.57 percent band today.
GLOBAL MARKETS • Asian share markets got off to a subdued start as simmering tensions on the Korean peninsula supported safe-harbours including the yen and gold.
• The dollar slipped against the yen on concerns about rising tensions between the United States and North Korea while the Canadian dollar held firm after the nation's central bank chief backed an interest rate increase.
• Oil markets were firm on worries over geopolitical tensions in the Korean peninsula and the Middle East, although prices were capped as supply remains ample despite an OPEC-led drive to rein in production.
• Gold prices edged up as tensions on the Korean peninsula stoked safe-haven demand for the metal, while the release of minutes from the U.S. Federal Reserve's last meeting was also in focus.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 64.75/64.78 July 4 -$128.75 mln -$116.33 mln 10-yr bond yield 6.95 Month-to-date -- -317.62 mln Year-to-date $8.45 bln $17.68 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 = 64.73 Indian rupees) (Compiled by Benny Thomas in Bengaluru)
