10:00 am: Commerce Minister Nirmala Sitharaman at an event in New Delhi.
10:30 am: Finance Minister Arun Jaitley to speak at an event in New Delhi.
10:30 am: IT Minister Ravi Shankar Prasad at an event in New Delhi.
10:30 am: Bank of India annual shareholders meeting in Mumbai.
3:45 pm: RBI Deputy Governor S.S. Mundra at an event in Mumbai.
LIVECHAT - N.KOREA CRISIS Tensions in the Northeast Asian region spike after Kim Jong-un successfully tested the country's first ICBM. The world is watching leaders in the U.S., China and North Korea closely for any signs of escalation. Dr. David Wright from the global security program at Union of Concerned Scientists will discuss possible scenarios and whether the North could run the next nuclear test. To join the conversation on Wednesday at 7:30 am IST, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS • NSE grapples with system fault ahead of IPO A technical glitch shut down India's National Stock Exchange for five hours on Monday, dealing the country's biggest stock market an embarrassing blow ahead of its plans to list and leading to a surge in volumes on a rival bourse.
• Bharti Airtel to spend $310 million to improve customer service India's top phone carrier Bharti Airtel Ltd plans to invest 20 billion rupees over three years on a programme to improve customer experience, as it pushes back against new rival Reliance Jio that has disrupted world's second-biggest mobile phone market by customers.
• First test of India's new bankruptcy law offers cautionary tale In January, Innoventive Industries, a speciality steelmaker based in western India, was forced into the bankruptcy court by its lenders, testing for the first time new insolvency rules that aim to resolve India's $150 billion bad debt overhang.
• Monsoon rains have covered most of India, rainfall within expectations - weather office The seasonal monsoon rains have covered most of India and the amount of precipitation so far is within expectations, the head of the country's weather office said, raising hopes for higher farm output after increased sowing of rice and soybean crops.
• ONGC Videsh to bid in Lebanon gas field auction -India government Indian energy company ONGC Videsh will bid in an upcoming auction to explore and develop gas fields off the coast of Lebanon, India's oil minister said on Monday.
• India's thirst for dairy to stand out in restrained food markets-OECD/FAO A fast-growing milk market in India will stand out amidst a trend towards more stable agricultural markets in the decade ahead as an era of booming demand led by China fades, the OECD and FAO said on Monday.
• AU Small Finance Bank surges on trading debut after $296 million IPO Shares in India's AU Small Finance Bank Ltd jumped as much as 52 percent on their market debut after the lender's 19.13 billion-rupee initial public offering of shares.
GLOBAL TOP NEWS • Trump Jr. was told of Russian effort to help father's campaign - NY Times Donald Trump Jr. was told in an email before meeting a Russian lawyer who he thought had material damaging to Hillary Clinton that it was part of a Russian government bid to aid his father's presidential campaign, the New York Times said on Monday.
• China anti-graft official likely to head insurance regulator - sources China is likely to name a senior Communist Party graft-buster to oversee the insurance sector, people familiar with the matter said, a signal that the country's ongoing crackdown on irregular business practices in the financial industry may be set to escalate.
• Healthcare disagreements roil U.S. Senate Republicans Republican senators returned to Washington on Monday following a 10-day holiday recess still at odds with one another over legislation President Donald Trump wants passed to repeal major portions of Obamacare.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) • The SGX Nifty Futures were at 9,800.50, up 0.28 percent from previous close.
• The Indian rupee could edge higher against the dollar in early trade on likely gains in local stocks tracking regional peers, even as traders remain cautious ahead of Federal Reserve Chair Janet Yellen’s testimony this week for insight on the U.S. central bank’s monetary policy tightening plans.
• Indian government bonds are likely to extend gains as investors bet the nation’s retail inflation will cool further, prompting the Monetary Policy Committee to go for a rate cut in near future. The yield on the benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 6.54 percent-6.50 percent band today.
GLOBAL MARKETS • U.S. stocks edged higher on Monday, led by gains in technology stocks as investors were optimistic ahead of earnings.
• Asian shares and the dollar cautiously edged higher, as investors awaited testimony from Federal Reserve Chair Janet Yellen for clues on when the central bank would tighten U.S. monetary policy.
• The dollar's advance against its major peers slowed as a rise in sovereign bond yields paused, with investors awaiting comments from Federal Reserve Chair Janet Yellen for fresh cues on policy direction.
• U.S. Treasury yields slipped on Monday, in line with weak European markets, as sharp gains following Friday's strong U.S. non-farm payrolls report prompted investors to consolidate positions.
• Oil prices edged up, lifted in part by a strong demand outlook for the coming weeks, but overall market conditions remain weak on the back of ample supplies and a more subdued outlook for long-term demand.
• Gold edged lower on a firmer dollar after touching near four-month lows in the previous session as the market waits for cues from the central bank on the path of U.S. interest rate hikes.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 64.53/64.56 July 10 $15.83 mln $141.64 mln 10-yr bond yield 6.86 pct Month-to-date -$269.10 mln -$29.3 mln Year-to-date $8.32 bln $17.97 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 = 64.43 Indian rupees) (Compiled by Benny Thomas in Bengaluru)
