To access the newsletter, click on the link: http://share.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN_09282018.pdfIf you would like to receive this newsletter via email, please register at: https://forms.thomsonreuters.com/india-morning/ FACTORS TO WATCH 5:00 pm: RBI to release weekly foreign exchange data in Mumbai. LIVECHAT - GLOBAL ASSETS ALLOCATION SHIFTS Reuters correspondent Claire Milhench details the findings of the latestReuters polling of global asset managers at 6:30 pm IST. To join theconversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS • ANALYSIS-India's shadow banking scare could derail its robust growth story Manzoor Ahmad lost his job as an electrician and is struggling to make endsmeet after a crucial road tunnel project shut down in Srinagar, the summercapital of Jammu and Kashmir state in the north. • India will continue to buy Iran's oil -Iranian foreign minister India is committed to buying Iranian oil and continuing the two nations'economic cooperation, the Iranian foreign minister said after a meeting with hisIndian counterpart and ahead of U.S. sanctions aimed at halting Tehran's oilexports. • Motorcycle companies in India's "Detroit" hit by strike over wages Hundreds of workers at motorbike companies including Yamaha Corp and EicherMotors are on strike in the southern Indian city of Chennai, demanding betterwages and a right to form unions to defend their interests. • IL&FS Financial Services misses loan repayments due this month IL&FS Financial Services, part of India's Infrastructure Leasing & FinancialServices (IL&FS), said on Thursday it missed repayments on a host of bank loansand some term deposits due this month. • India could introduce more import curbs - finance ministry source India will soon announce steps to boost exports, while not ruling outfurther import curbs, a senior finance ministry source said on Thursday. • Cash rules relaxed for Indian banks as credit crunch fears persist The Reserve Bank of India eased cash requirements for banks on Thursday andsaid it would provide “durable liquidity”, but the relief was short-lived formarkets fearful of a credit crunch arising from problems among non-bankingfinance companies. • Garden Reach Shipbuilders extends IPO closure, revises price band State-owned Garden Reach Shipbuilders & Engineers Ltd revised the price bandfor its initial public offering (IPO) to raise up to $47.64 million and extendedthe subscription offer by three days. • Indian airlines unlikely to face big hit from tariff on jet fuel imports,govt data shows Indian carriers are unlikely to face a significant hit from the government'sdecision this week to impose a tariff on jet fuel, as imports account for lessthan five percent of domestic jet fuel consumption. GLOBAL TOP NEWS • Japan Inc's global push drives Asia M&As, offsets China slowdown Japan M&A volumes are set to break a 19-year-old record and steal thespotlight in Asia this year from cooling Chinese deals, led by blockbustertakeovers such as Takeda Pharma's $62 billion swoop on British drugmakerShire. • Trump's election meddling charge against China marks US pressure campaign U.S. President Donald Trump’s accusation of Chinese meddling in upcomingU.S. elections marks a new phase in an escalating pressure campaign againstBeijing that Washington is pursuing on multiple fronts, senior U.S. officialssaid on Thursday. • U.S. regulator sues Musk for fraud, seek to remove him from Tesla The top U.S. securities regulator on Thursday accused Tesla Inc ChiefExecutive Elon Musk of fraud and sought to remove him from his role in charge ofthe electric car company, saying he made a series of "false and misleading"tweets about potentially taking Tesla private last month. LOCAL MARKETS OUTLOOK (As reported by NewsRise) • SGX Nifty nearest-month futures were trading up 0.4 percent at 11,088.00,from its previous close. • The Indian rupee is expected to open slightly lower against the U.S.currency after robust economic data lifted the dollar index by the most in sevenweeks. • Indian government bonds are likely to open higher, as traders await theborrowing details for the second half of this fiscal year. The yield on thebenchmark 7.17 percent bond maturing in 2028 may trade in a 7.99 percent-8.05percent band today, a dealer with a private bank said. GLOBAL MARKETS • Wall Street climbed on Thursday, helped by gains in Apple, Alphabet andFacebook, as well as the U.S. Federal Reserve's confidence in the strength ofthe economy after it raised rates for the third time this year. • Shares in Asia inched higher, following gains on Wall Street overnightafter news of robust U.S. economic growth, with the chairman of the FederalReserve saying the United States does not face a large chance of near-termrecession. • The dollar stood tall against its peers, hovering near a nine-month highversus the yen, after data reinforced upbeat views about the U.S. economy andbacked the Federal Reserve's signal for a steady course of rate increases overthe next year. • U.S. Treasury yield curve moved to its flattest level in over a week onThursday, led by a fall in longer-dated yields, despite weak demand at a $31billion auction of seven-year government notes. • Oil prices inched up, with investors trying to gauge the potential impacton supply from looming U.S. sanctions on Iran's crude exports. • Gold prices held close to near six-week lows hit in the previous session,as the dollar firmed after upbeat U.S. economic data supported the FederalReserve's resolve for steady interest rate hikes over the next year. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 72.55/72.58 September 27 $76.07 mln -$58.26 mln 10-yr bond yield 8.03 pct Month-to-date -$1.17 bln -$1.48 bln Year-to-date -$2.02 bln -$6.62 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 = 72.56 Indian rupees) (Compiled by Siddharth Athreya V in Bengaluru)
