11:00 am: Sterlite annual shareholders meet in Aurangabad.
LIVECHAT - BREXIT UPDATE We discuss the latest Brexit developments with UK economics correspondent Alistair Smout at 6:30 pm IST. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS • Indian manufacturing growth cools in June on weak demand Activity in India's manufacturing sector eased to a four-month low in June amid a slowdown in output and new orders as softer domestic consumption partly offset strong foreign demand, a private business survey showed on Monday.
• NSE may need to refile IPO application -regulator India's National Stock Exchange may need to refile its application for a stock listing after looking into whether brokers were provided unfair access to its servers, markets regulator chairman Ajay Tyagi said on Monday.
• RBI raises foreign investment limits in bonds, tweaks rules The Reserve Bank of India on Monday increased the investment limits by foreign investors in government bonds by 110 billion rupees to 2.42 trillion rupees, while also tweaking rules to attract more long-term investments.
• SEBI set to propose new rules for rating agencies - chairman India's market regulator chairman Ajay Tyagi said on Monday he was considering imposing more regulations on ratings agencies, days after announcing a set of tough new rules that the agencies must observe.
• Workers reject junior partner role for Thyssenkrupp in Tata JV Thyssenkrupp workers oppose the idea that the German industrial group could be the junior partner in a possible steel joint venture with India's Tata Steel, group works council chief Wilhelm Segerath told Reuters on Monday.
• NMCE, ICEX to merge creating 3rd biggest commodity exchange India's National Multi Commodity Exchange will merge with Indian Commodity Exchange creating the country's third biggest commodity exchange, they said in a statement on Monday.
GLOBAL TOP NEWS • North Korea fires ballistic missile ahead of G20 summit North Korea launched a ballistic missile from its western region into the sea off its east coast on Tuesday, South Korea's military said, ahead of a summit of leaders from the Group of 20 countries in Germany later this week.
• Samsung plans $18.6 billion South Korea investment amid chip boom Samsung Electronics Co Ltd said it plans to invest at least $18.63 billion in South Korea as it seeks to extend its lead in memory chips and next-generation displays for smartphones.
• Trump discusses migration, trade with European leaders ahead of summit U.S. President Donald Trump discussed hot-button issues like climate change, trade and migration in calls with German and Italian leaders on Monday, before a summit this week of the G20 leading economies that could expose sharp policy differences.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) • The SGX Nifty Futures were at 9,624.00, little changed from previous close.
• The Indian rupee will likely edge higher against the dollar in early trade, in line with Asian peers, tracking greenback sales by exporters and possible gains in local shares amid thin trade.
• Indian government bond prices are likely to fall following a rise in U.S. Treasury yields, as upbeat U.S. manufacturing data boosted expectations the Federal Reserve would raise rates again this year. 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 • The S&P 500 and Dow Industrials moved higher on Monday, with the Dow hitting an intraday record as energy and bank stocks gained, but continued weakness in the technology sector pulled the Nasdaq lower.
• Asian shares climbed, following positive leads from Europe and the U.S. as oil's longest stretch of daily price gains in over five years lifted energy shares and investor rotation out of technology into financials continued.
• The dollar steadied after rallying on upbeat U.S. data that boosted Treasury yields to seven-week highs, while the focus turned to the Reserve Bank of Australia's policy decision to see if it would join a growing list of central banks adopting a hawkish tilt.
• U.S. Treasury yields rose on Monday, with two-year yields touching their highest in more than eight years after U.S. manufacturing data boosted expectations that the Federal Reserve would raise interest rates again this year as other central banks shift toward tighter monetary policy.
• Oil prices retreated in early Asian trade, halting a run of eight straight days of gains on signs that a relentless rise in U.S. crude production was running out of steam.
• Gold edged higher, supported by an easing dollar, but was still near seven-week lows hit in the previous session when it posted its biggest one-day percentage loss since November.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 64.79/64.82 July 3 -$124.15 mln -$201.29 mln 10-yr bond yield 6.95 Month-to-date $609.97 mln -- Year-to-date $8.59 bln $17.80 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 = 64.88 Indian rupees) (Compiled by Benny Thomas in Bengaluru)
