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Morning News Call - India, November 11

(Morning News Call - India edition will not be published on Tuesday, November 12 as markets are closed for Guru Nanak Jayanti) To access a PDF version of this newsletter, please click here http://share.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN_11112019.pdf If you would like to receive this newsletter via email, please register at: http://solutions.refinitiv.com/MNCIndiaSubscriptionpage FACTORS TO WATCH • 10:00 am: IBBI Chairman M.S. Sahoo at CII’s National Conference on Resolving Insolvency in India, in New Delhi. • 5:30 pm: Government to release September industrial production data in New Delhi. GMF: LIVECHAT - MARKETS FOCUS Reuters EMEA Markets Editor Mike Dolan analyses the state of European markets at 3:30 pm. To join the conversation, click on the link: https://refini.tv/2P8N0Wp INDIA TOP NEWS • India detains users over inflammatory online posts after religious site ruling Dozens of people in India have been detained on suspicion of publishing inflammatory social media posts and setting off celebratory firecrackers after the Supreme Court ruled to give a disputed religious site to Hindus, police said on Sunday. • A dozen dead, fishermen missing after cyclone Bulbul lashes Bangladesh and India At least 13 people were killed in Bangladesh and India after cyclone Bulbul lashed coastal areas this weekend, though prompt evacuations saved many lives and the worst was over, officials said on Sunday. • Indian WhatsApp users ask govt to explain ties with Israeli firm in privacy breach case A group of Indians including journalists and lawyers whose phones were hacked via Facebook's WhatsApp messaging platform asked the government on Friday to make public its ties with the Israeli firm accused of deploying the spyware. • India's cotton output set to rise, exports to remain steady -trade body India's cotton production in 2019/20 is likely to jump 13.6% due to a bigger cultivated area and a boost to yields from above-average monsoon rains, a leading trade body forecast on Friday. • Mahindra and Mahindra's Q2 profit slips 27% as Indian auto slowdown lingers Mahindra and Mahindra Ltd on Friday reported a 26.5% drop in quarterly net profit as the company struggled to sell cars, trucks and tractors amid a slowdown in Asia's third-largest economy. • India's bad debt pile eased by write-offs, underlying problem far from resolved Indian banks wrote off more than $30 billion worth of bad debt in the year to June 30, helping to lower stressed loans on their books by 8.5%, according to central bank data reviewed by Reuters. • India's inflation probably breached central bank target last month - Reuters Poll Indian retail inflation probably exceeded the Reserve Bank of India's medium-term target of 4% in October for the first time in 15 months, mainly because of rising vegetable prices, a Reuters poll of economists showed. • Suzuki rethinks promise of India's auto market, and it is not alone Suzuki Motor Corp said it was no longer gung-ho about India's auto market, the world's fourth-largest, where it has seen relentless growth in the past seven years. And the parent of the country's biggest car maker is not alone. GLOBAL TOP NEWS • 'Pam, pam, pam': Hong Kong police open fire, wounding protester Hong Kong police opened fire and hit at least one protester, witnesses and media reports said, as chaos erupted across the city a day after officers fired tear gas to break up demonstrations that are entering their sixth month. • Bolivia's Morales resigns after protests, lashes out at 'coup Bolivian President Evo Morales said on Sunday he would resign to ease violence that has gripped the South American nation since a disputed election last month, but he stoked fears of further unrest by saying he was the victim of a "coup" and faced arrest. • Alibaba Singles' Day sales hit $23 billion in first nine hours Chinese e-commerce giant Alibaba Group Holding Inc said sales for its annual Singles' Day shopping blitz hit 158.31 billion yuan ($22.63 billion) in its first nine hours, up 25% from 126.72 billion yuan at the same point last year. LOCAL MARKETS OUTLOOK (As reported by NewsRise) • SGX Nifty nearest-month futures were 0.3% lower at 11,915.50. • The Indian rupee is expected to extend its losses against the dollar amid a broad decline in Asian currencies on weak risk appetite. • Indian government bonds are expected to open lower in early session, as state debt sale will add to supply in the market. The yield on the benchmark 6.45% bond maturing in 2029 is likely to trade in a range of 6.54%-6.60%. GLOBAL MARKETS • The three major U.S. stock indexes posted record closing highs and the S&P 500 registered a fifth straight week of gains on Friday as investors brushed aside worries over the progress of U.S.-China trade talks and as Walt Disney shares rose. • Asian shares reversed gains as fresh violence broke out in Hong Kong, while uncertainty still remained over whether the United States and China could end their damaging trade war. • The dollar held near multi-week highs amid optimism that the United States and China would roll back tariffs that have hurt global growth. • U.S. Treasury yields held just below three-month highs on Friday as investors evaluated the likelihood that the United States and China would reach a deal to roll back tariffs, as officials made contradictory statements on the issue. • Oil prices fell on renewed caution over the prospects of a trade deal between the United States and China, with investors shrugging off comments over the weekend by U.S. President Donald Trump that talks were going well. • Gold prices edged up, as mixed signals from U.S.- China trade talks kept investors cautious, although disappointing China factory data provided support. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 71.26/71.29 November 8 894.84 crore (1,041.71) crore 10-yr bond yield 6.51% Month-to-date 6,434 crore 5,674 crore Year-to-date 74,987 crore 38,530 crore 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 = 71.35 Indian rupees) (Compiled by Nayyar Rasheed in Bengaluru)