MORNING NEWS CALL REUTERS EDITION Friday, July 14, 2017

FACTORS TO WATCH 9:00 am: Reserve Bank of India Deputy Governor S.S. Mundra to speak at India Banking Reforms Conclave in Mumbai. 10:00 am: Farm Minister Radha Mohan Singh and NITI Aayog Member Ramesh Chand at National Summit on agriculture marketing solutions in New Delhi. 10:30 am: Hero Motocorp annual shareholders meeting in New Delhi. 12:00 pm: Transport Minister to meet committee set up to study redevelopment of port hospitals on PPP basis in New Delhi. 12:00 pm: Government to release June wholesale inflation data in New Delhi. 2:50 pm: Railways Minister and Telecom Minister to launch passenger and freight business initiatives in New Delhi. 5:00 pm: Reserve Bank of India to release weekly foreign exchange data in Mumbai. 5:30 pm: Telecom Minister Manoj Sinha at IPTV Society anniversary event in New Delhi.

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INDIA TOP NEWS

Tata Consultancy upbeat on client spending after Q1 profit dip Top Indian software services exporter Tata Consultancy Services said on Thursday it was optimistic about client spending on technology even as a cautious global environment and a stronger rupee dented first-quarter profit.

Floods in India's northeast kill 40; endanger rare one-horned rhinos Floods in northeast India that have killed at least 40 people and displaced nearly 1.5 million have also inundated a national park that is home to the world's largest concentration of one-horned rhinoceros.

Jaguar Land Rover to produce first car entirely outside of Britain Britain's biggest carmaker Jaguar Land Rover said on Thursday it is to build its new E-PACE compact sport utility vehicle in Austria and China, the first of its cars only to be manufactured outside of its home market.

GLOBAL TOP STORIES

Chinese dissident Liu Xiaobo dies in custody, struck by liver cancer Chinese Nobel Peace Prize laureate Liu Xiaobo, a prominent dissident since the 1989 Tiananmen Square pro- democracy protests, died on Thursday after being denied permission to leave the country for treatment for late-stage liver cancer.

New U.S. Senate Republicans healthcare bill already in trouble Senate Republican leaders released on Thursday a revised plan to dismantle the Obamacare law, but it drew criticism from senators on both sides of the political divide within the Republican party, indicating a treacherous path for the bill.

Fitch affirms China's A+ rating with stable outlook Fitch Ratings on Friday maintained its A+ rating on China with a stable outlook, citing the strength of the country's external finances and macroeconomic record.

STATE OF THE MARKETS

The SGX Nifty Futures were at 9,903.50, up 0.09 percent from previous close.

MORNING NEWS CALL - INDIA EDITION July 14, 2017

The Indian rupee will likely be little changed against the dollar in early trade, as traders stay cautious and shift focus to upcoming U.S. inflation data for cues on trajectory and pace of interest rate hikes in the world’s biggest economy. - Newsrise

Indian government bonds are likely to open little changed as investors may defer purchases from the secondary market ahead of a weekly debt auction. The yield on the benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 6.44 percent-6.49 percent band. - Newsrise

Wall Street posted slight gains on Thursday and the Dow hit another record high close, with financials rising ahead of profit reports due Friday from several big U.S. banks.

Global stocks scaled record highs, with Asian equities rising for the fifth straight session, as signs the Federal Reserve will pursue a gradual rate tightening path and hopes of a strong earnings season lifted appetite for risk assets.

The dollar trod water against a group of peers, as currency investors remained cautious ahead of U.S. inflation data due later in the session, which is expected to set the greenback's near-term direction.

U.S. Treasury yields rose on Thursday after falling for three straight days, tracking gains in German bond yields with solid U.S. economic data supporting their trend higher.

Oil markets dipped, pulled down by high fuel inventories and improving industry efficiency, but were still on track for a solid weekly gain.

Gold was little changed after snapping three days of gains in the previous session, and was set for its first weekly rise in three weeks as the dollar and equities steadied.

CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 64.44/64.47 July 13 -- -$31.87 mln

10-yr bond yield 6.84 pct Month-to-date -$134.30 mln $1.44 bln

Year-to-date $8.46 bln $19.44 bln

2 MORNING NEWS CALL - INDIA EDITION July 14, 2017

PICTURE OF THE DAY

A performer balances himself on a set of knives during a show of the Rambo Circus on the outskirts of Bengaluru, July 13. REUTERS/ Abhishek N. Chinnappa

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