MORNING NEWS CALL

FACTORS TO WATCH

11:00 am: Monsoon session of Parliament continues in New Delhi.

TRADING INDIA FORUM – INDIAN EQUITY MARKETS

Over the past five years, a number of initiatives w.r.t insolvency, delisting, takeover and GST have been initiated.

Harman Walia, Principal Associate at IndusLaw, will share his views on these on other legal changes at 11:00 am IST.

To join the conversation, click here

LIVECHAT - BITCOIN FOCUS

George Harrap, CEO, BitSpark, discusses Bitcoin at 10:30 am IST. To join the conversation, click here

INDIA TOP NEWS

India's bank non-performing loans rise to $150.2 billion at end-March

Bad loans held by India's banks rose to 10.36 trillion rupees at the end of March, the government said on Tuesday, with

state-backed lenders accounting for more than 86 percent of the total non-performing loans.

Asian Paints Q1 profit beats estimates

Asian Paints, India's biggest paint maker by market capitalisation, on Tuesday reported first-quarter profit above

analysts' expectations, helped by double-digit volume growth in its decorative paint business.

Idea shares jump as Vodafone deal clears govt hurdle

Shares of Idea Cellular surged on Tuesday, after the operator paid the department of telecommunications money it had

demanded relating to its merger with Vodafone's India unit.

Adani sees six-fold rise in coal mining volume despite challenges in Australia

Adani Group expects an over six-fold rise in coal mining volumes by the end of fiscal year 2021, an executive said on

Tuesday, despite its struggle to develop a coal project in Australia.

GLOBAL TOP STORIES

Trump wants $12 billion in aid to U.S. farmers suffering from trade war

The Trump administration on Tuesday said it will use a Great Depression-era program to pay up to $12 billion to help

U.S. farmers weather a growing trade war with China, the European Union and others that the president began.

Asian chipmakers' production plans in focus as super-cycle winds down

Asian memory chipmakers' production plans and outlook will be closely watched as they start reporting earnings this

week, following sharp falls in their stock prices due to concerns that a 2-year industry super-cycle may be skidding to a

halt.

Pakistan votes in tight race between Imran Khan, jailed ex-PM's party

Pakistanis vote on Wednesday in a knife-edge general election pitting cricket hero Imran Khan against the party of jailed

ex-Prime Minister Nawaz Sharif, with the prospect of neither winning a clear majority amid a looming currency crisis.

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STATE OF THE MARKETS SGX Nifty nearest-month futures were trading at 11,150.00, up 0.1 percent from its previous close. -NewsRise

The Indian rupee is expected to open higher against the U.S. currency amid a minor decline on the dollar index before

a meeting between President Donald Trump and European Commission chief Jean-Claude Juncker. -NewsRise

Indian government bonds are likely to open lower, as higher crude oil prices sparked inflationary concerns that may

lead to a rate hike. The yield on the benchmark 7.17 percent bond maturing in 2028 is likely to trade in a 7.76 percent-

7.82 percent band today. -NewsRise

The S&P 500 on Tuesday closed at its highest level since Feb. 1 as Alphabet's blowout results bolstered expectations of

a robust earnings season.

Asian stocks were higher, supported by strong Wall Street earnings and hopes China's government spending would

boost growth but trade tensions remain in focus ahead of a meeting between the U.S. and European Commission

presidents.

The dollar and euro held tight ranges, ahead of a meeting between U.S. President Donald Trump and European

Commission President Jean-Claude Juncker as investor focus shifted to the trade rift between the two economic

powers.

The highest short-term yields in a decade helped the government sell $35 billion in two-year notes on Tuesday,

bringing the yield curve down from its steepest levels in three weeks.

Oil prices rose for a second day after industry group data showed U.S. crude inventories fell more than expected last

week, easing worries about oversupply that had dragged on markets in recent sessions.

Gold prices inched higher early as the greenback softened while investors awaited U.S. economic growth data due later

this week.

CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 68.92/68.95 July 24 -$15.09 mln -$44.94 mln

10-yr bond yield 7.78 pct Month-to-date -$305.38 mln -$41.34 mln

Year-to-date -$1.09 bln -$5.82 bln

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PICTURE OF THE DAY

A State Disaster Response Force member searches for a man who drowned during flash floods in Tailbal, on the outskirts of Srinagar

July 24. REUTERS/Danish Ismail

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