MORNING NEWS CALL

FACTORS TO WATCH 9:15 am: Dixon Technologies and Bharat Road Network list on stock exchanges in Mumbai. 9:30 am: Finance Secretary Ashok Lavasa, Road Minister Nitin Gadkari and other ministers at IACC annual convention in Mumbai. 10:00 am: Road Minister Nitin Gadkari, Commerce Minister Suresh Prabhu, Maharashtra State government officials and others at Progressive Maharashtra Summit in Mumbai. 10:00 am: ICICI Lombard initial public offering subscription continues in Mumbai. 10:30 am: NBCC annual general meeting in New Delhi. 12:00 pm: Finance Minister Arun Jaitley at launch of Google digital payment app ‘Tez’ in New Delhi. 12:00 pm: Andrew Yule & Co. annual general meeting in Kolkata. LIVECHAT - FX WEEK AHEAD FX Buzz analyst Jeremy Boulton analyses G7 currencies at 3:30 pm IST. To join the conversation, click here INDIA TOP NEWS China's Fosun Pharma to buy smaller stake in Indian firm for $1.1 billion Shanghai Fosun Pharmaceutical Group has agreed to cut the size of the stake it will buy in India's Gland Pharma to 74 percent, it said on Sunday, paying about $1.1 billion for what is still set to be China's biggest acquisition in India. Small creditors use India's new bankruptcy rules to put the squeeze on big players In late June, one of India's top wind power equipment makers, Inox Wind Ltd, was dragged into insolvency courts by a logistics handler over unpaid dues of $88,000. Two weeks on, the matter was settled, with dues paid off. Labour leaders warn of breakup of Thyssenkrupp - leaflet Labour representatives warned of the dangers of a break-up of Thyssenkrupp, one of the alternatives to a merger of the German group's European steel operations with those of Tata Steel. Protesters set to rally against Australia's biggest coal project Environmental activists are due to start a week of protests on Sunday against a major coal mining project they say will damage Australia's Great Barrier Reef and contribute to global warming. June quarter current account widens to 4-year high as imports surge India's April-June current account deficit widened to its highest in four years as imports surged, but strong capital inflows comfortably financed the gap, data from the Reserve Bank of India showed on Friday. JSW Steel aims to increase own iron ore production JSW Steel Ltd, India's biggest local steelmaker, aims to be producing 80 percent of the iron ore needed for its flagship plant in south India in three years time as it seeks to cut costs, a senior executive said. GLOBAL TOP STORIES U.S. Ambassador Haley: U.N. has exhausted options on North Korea U.S. Ambassador to the United Nations Nikki Haley said on Sunday the U.N. Security Council has run out of options on containing North Korea's nuclear program and the United States may have to turn the matter over to the Pentagon. Tillerson says U.S. could stay in Paris climate accord The United States could remain in the Paris climate accord under the right conditions, Secretary of State Rex Tillerson said on Sunday, signaling a shift in tone from the Trump administration, which angered allies with its decision to pull out of the agreement. China home price growth slows slightly in August as curbs bear down China's property price growth slowed but remained firm in August despite stiff curbs to dampen speculative demand, suggesting the sector held up well with few risks of a severe correction many fear would blight the economy.

REUTERS INDIA EDITION Monday, September 18, 2017

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MORNING NEWS CALL - INDIA EDITION September 18, 2017

STATE OF THE MARKETS The SGX Nifty Futures were at 10,151.50, trading up 0.6 percent from its previous close. Indian government bonds are likely to fall in early trade after the Reserve Bank of India announced a sale of notes through its open market operations. The yield on the benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 6.58 percent-6.63 percent band. - Newsrise The Indian rupee will likely open little changed to slightly lower against the dollar, as the nation’s current account deficit and trade gap widened. - Newsrise Wall Street reached record highs on Friday, with the S&P 500 surpassing 2,500 points as telecommunications shares rose and technology bounced back after two days of declines. Asian shares hit decade highs and the dollar held firm early in a week in which the U.S. Federal Reserve is likely to wrestle with its bloated balance sheet as part of a long reversal of super-cheap money worldwide. The dollar held firm near a seven-week high versus the yen, supported by recent rises in U.S. Treasury yields, while sterling stood tall, buoyed by growing expectations the Bank of England could raise interest rates soon. Yield spreads between shorter-dated and longer-dated Treasuries contracted on Friday as traders added to bets the Federal Reserve would wait until the end of the year to raise rates and focus on its balance sheet at next week's policy meeting. Oil markets were firm and remained near multi-month highs reached late last week as the number of U.S. rigs drilling for new production fell and refineries continued to start up after getting knocked out by Hurricane Harvey. Gold slipped to its lowest level in over two weeks amid a firmer dollar, while prospects of monetary policy tightening in the United States ahead of the Federal Reserve's two-day meeting starting on Tuesday also weighed on the metal.

CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 64.07/64.10 September 15 $65.36 mln $41.20 mln

10-yr bond yield 6.87 pct Month-to-date -$550.67 mln $397.55 mln

Year-to-date $6.46 bln $23.54 bln

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MORNING NEWS CALL - INDIA EDITION September 18, 2017

PICTURE OF THE DAY

Performers dressed in traditional attire rehearse for Garba, a folk dance, ahead of Navratri, a festival of nine days when devotees worship Hindu goddess Durga, in Ahmedabad, September 15, 2017. REUTERS/Amit Dave

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