12:30 pm: Food Minister Ram Vilas Paswan briefs media in New Delhi.
4:00 pm: Aviation Secretary Rajiv Nayan Choubey and Skill Development Minister Rajiv Pratap Rudy at aviation security seminar in Manesar, Gurugram.
5:00 pm: RBI releases weekly forex reserves data in Mumbai.
LIVECHAT - QUIZ EAST The first of our Friday quizzes at 11:00 am IST focuses on Asia and the week's top news. Tests your wits and googling speed. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS • IndiGo says keen only on Air India's international, low-cost units India's biggest airline IndiGo said on Thursday it was keen to buy state-owned carrier Air India's international arm and low-cost division Air India Express rather than the whole business if India decides to sell its flag carrier.
• Tax hike could dampen Indian gold demand in short term -WGC An increase in taxes on gold sales in India could curb short-term demand from the world's No. 2 consumer of the metal, the World Gold Council said.
• Ethnic unrest leaves world's tea drinkers thirsty for $1,800 Darjeeling brew Ethnic unrest in India's Darjeeling hills has wiped out the harvest of the world's most expensive tea, disrupting supplies to European buyers and potentially pushing prices higher.
• India, Israel launch innovation fund during Modi visit India and Israel have established a $40 million joint innovation initiative fund to increase economic cooperation and boost research and development within both countries.
• Bhushan Steel Q4 loss bigger than stated earlier Bhushan Steel Ltd reported a March-quarter loss that was much bigger than stated earlier in its unaudited results, as the debt-laden steelmaker was hurt by higher costs.
• Online grocery startup Jumbotail raises $8.5 million in funding Jumbotail, an Indian startup building an online wholesale marketplace for groceries, has raised $8.5 million in a funding round led by venture firm Kalaari Capital with the participation of Nexus Venture Partners.
GLOBAL TOP NEWS • All eyes on Trump-Putin dynamics as they meet for first time at G20 U.S. President Donald Trump and Russian President Vladimir Putin are set to size each other up in person for the first time on Friday in what promises to be the most highly anticipated meeting on the sidelines of the G20 summit.
• Trump pledges to act 'very strongly' on North Korea missile threat U.S. President Donald Trump vowed on Thursday to confront North Korea "very strongly" following its latest missile test and urged nations to show Pyongyang there would be consequences for its weapons program.
• Samsung Electronics tips record Q2 profit as memory prices surge Tech giant Samsung Electronics estimated a record quarterly operating profit for April-June, propelled by a memory chip boom that analysts say will continue to pad margins for the rest of 2017.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) • The SGX Nifty Futures were at 9,640.50, down 0.28 percent from previous close.
• The Indian rupee could edge higher against the dollar in early trade, tracking overnight decline in the greenback following a weaker-than-expected U.S. private employment data.
• Indian government bonds are likely to trade lower amid a rise in U.S. Treasury yields and prospects of hawkish global central bank policies. The yield on the benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 6.53 percent-6.58 percent band today.
GLOBAL MARKETS • U.S. stocks were sharply lower on Thursday after disappointing labor market data clashed with the possibility of a more hawkish Federal Reserve, while rising tensions in the Korean peninsula providing additional pressure.
• Asian shares lost ground after a weak session on Wall Street, while global sovereign debt yields were elevated across the board on bets the European Central Bank is moving ever closer towards unwinding its massive monetary stimulus.
• The dollar gained in Asian trading, getting a leg up against the yen after the Bank of Japan increased its purchases of Japanese government bonds in a move aimed at stemming a rise in yields.
• U.S. Treasury yields rose on Thursday, with benchmark yields touching nearly eight-week highs, on the prospect of hawkish global central bank policy and concern that rising oil prices could spur inflationary pressures.
• Oil prices fell by more than 1 percent, with U.S. crude futures dipping below $45 per barrel as news of a rise in U.S. production added to earlier reports that OPEC output was also on the rise.
• Gold prices inched down to hover around their lowest in nearly two months, with investors waiting for key U.S. non-farm payrolls data later in the day.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 64.74/64.77 July 6 -$2.36 mln $170.58 mln 10-yr bond yield 6.93 Month-to-date -$297.82 $283.81 mln Year-to-date $8.29 bln $17.72 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 = 64.78 Indian rupees) (Compiled by Benny Thomas in Bengaluru)
