Early morning News Call – India, June 8

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INDIA TOP NEWS
Rajan searches for space to cut rate of interest, sees inflation pressures
The Reserve Bank of India is trying to find space to reduce interest rates even more,
but there are issues over upward pressures on food and product prices,
Governor Raghuram Rajan stated after leaving rates the same at a policy review on
Tuesday.

Some financiers state “don’t panic” over Indian reserve bank leadership
The reappointment, or not, of India’s central bank head Raghuram Rajan has
triggered enough of a stir to be known in your area as “Rexit”, a play on Britain’s EU
mandate, reflecting the esteem in which the governor is held in your home and
abroad.

India might stop diesel imports, deal with private refiners – sources
India’s state refiners might halt diesel imports after exercising a momentary
system to resume purchasing the fuel from private processors if international diesel
prices remain at current levels, 2 refinery sources said.

Bezos states Amazon to up India financial investment to $5 billion
Amazon Inc President Jeff Bezos said on Tuesday the business would invest
an added $3 billion in India, boosting its committed financial investment in the
nation to over $5 billion.

India clears final difficulty to join rocket control group, diplomats state
The members of the Rocket Technology Control Program, an international
anti-proliferation grouping, have consented to confess India, diplomats said, in a.
win for Prime Minister Narendra Modi as he met President Barack Obama in.
Washington on Tuesday.

In increase to Paris environment pact, India says it aims to join this year.
India has consented to work toward joining the Paris Agreement on climate modification.
this year, India and the United States said on Tuesday, providing a shock of.
momentum to the international fight to suppress global warming.

Nissan bets on Datsun once again to crack India’s little car market.
Nissan Motor Co released a compact hatchback from its Datsun stable in India on.
Tuesday, its 3rd effort to crack the nation’s little and inexpensive vehicle market.
where it has actually had a hard time making a dent.

India renewable resource firm Greenko says it has actually raised $230 mln from ADIA,.
GIC.
Greenko Energy Holdings, among India’s leading renewable resource firms, stated on.
Tuesday it has actually secured $230 million in overall new funds from an entity owned by.
the Abu Dhabi Investment Authority (ADIA) and an affiliate of Singapore.
sovereign wealth fund GIC.

GLOBAL TOP NEWS.
Hailing a first, Clinton declares victory in Democratic race.
Hillary Clinton declared herself the Democratic Celebration nominee for U.S. president.
on Tuesday, welcoming her role in history as the very first female to lead a significant.
party in a race for the White Home.

Japan Q1 GDP revised up, boosted by leap year gain.
Japan’s economy grew faster than at first approximated in the very first quarter as.
capital spending fell less than was initially reported, however worries stay over slow.
consumer spending and weak exports.

North Korea restarts plutonium production for nuclear bombs -U.S. authorities.
North Korea has actually restarted production of plutonium fuel, a senior State.
Department authorities stated on Tuesday, showing that it prepares to pursue its nuclear.
weapons program in defiance of international sanctions.

LOCAL MARKETS OUTLOOK.
( As reported by NewsRise).
The SGX Nifty Futures was trading at 8,282.50, down 0.08 pct from its.
previous close.
The Indian rupee is poised to open bit changed against the United States dollar,.
as expectations of weaker regional shares on caution ahead of China’s trade information.
will likely offset the effect of continuous weakness in the greenback.
Indian federal government bonds might edge lower in early trade after the country’s.
reserve bank left essential rates the same the other day, but highlighted upside threats to.
inflation, raising concerns that future financial easing may be postponed. The.
yield on the benchmark 7.59 pct bond developing in 2026 is likely to sell a.
7.46 pct-7.51 pct band today.

INTERNATIONAL MARKETS.
The S&P 500 ended at its finest level given that July on Tuesday, helped by a big.
jump in energy shares and investor self-confidence that higher rate of interest will.
not thwart the economy.
Asian shares held near six-week highs, on a lightening up outlook in the.
energy sector and hopes that the United States Federal Reserve will not raise interest.
rates in the coming months after a disappointingly weak U.S. tasks report.

The dollar bloc currencies such as the Australian and Canadian dollars.
held on to big gains, supported by monetary policy expectations and higher.
product costs, while the United States dollar treaded water against the yen and euro.

U.S. Treasury costs rose on Tuesday, increased by expectations that the.
Federal Reserve will not raise interest rates for a number of months, however briefly.
pared gains after government had to pay more to offer brand-new three-year notes.
Oil rates stood stable near their greatest level in about eight months,.
assisted by market information revealing a larger-than-expected drawdown in U.S. crude.
stocks and by stress over attacks on Nigeria’s oil industry.
Gold held stable near a two-week high early, with the prospect of an early.
U.S. rate of interest hike apparently dimming following dovish comments by Federal.
Reserve chair Janet Yellen previously today.

CLOSE FII FINANCIAL INVESTMENTS EQUITIES DEBT.
PNDF spot 66.76/ 66.79 June 7 – $18.72 mln.
10-yr bond yield 7.66 pct Month-to-date $390.08 mln -$ 297.26 mln.
Year-to-date $2.57 bln -$ 1.36 bln.

For extra data:.
India govt bond market volumes.
Stock exchange reports.
Non-deliverable forwards information.
Corporate financial obligation stories [IN CORPD] Regional market closing/intraday levels [IN SNAPSHOT] Regular monthly inflows [INFLOWS RTRS TABLE IN]($ 1 = 66.77 Indian rupees).

( Put together by Hardik Vyas in Bengaluru).

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