Daily Stock Market Reports

Morning News Call – India, May 16

To access a PDF version of this newsletter, please click here https://share.refinitiv.com/assets/newsletters/Indiamorning/MNC_IN_05162022.pdf If you would like to receive this newsletter via email, please register at: https://solutions.refinitiv.com/MNCIndiaSubscriptionpage FACTORS TO WATCH 12:30 pm: eMudhra media briefing on forthcoming initial public offering. 3:30 pm: Bharat Forge management at Q4 analyst call. PROMOTION LIVECHAT-REUTERS GLOBAL MARKETS FORUM Mike Dolan, Reuters Editor-at-Large for Financial Industry & Financial Markets, discusses themes in play for the upcoming week. To join the discussion at 3:30 pm IST, click here https://www.refinitiv.com/en/products/refinitiv-messenger/global-markets-forum INDIA TOP NEWS • India bans wheat exports as heat wave hurts crop, domestic prices soar India banned wheat exports on Saturday days after saying it was targeting record shipments this year, as a scorching heat wave curtailed output and domestic prices hit a record high. • POLL-RBI to raise rates again in June but not clear by how much The Reserve Bank of India will follow its surprise May rate rise with another hike at its meeting next month, according to a majority of analysts polled by Reuters who were exceptionally split on the size of the move. • Adani to become India’s second-biggest cement maker with $10.5 billion Holcim deal Adani Group acquired a controlling stake in Holcim’s cement businesses in India in a $10.5 billion deal to become the second biggest cement producer in the country, Adani Group said in a statement on Sunday. • Reliance to acquire dozens of brands in $6.5 billion consumer goods play-sources India’s biggest retailer Reliance will acquire dozens of small grocery and non-food brands as it targets building its own $6.5 billion consumer goods business to challenge foreign giants like Unilever, two sources familiar with the plan told Reuters. • India’s top lender SBI Q4 profit misses, new bad loans rise State Bank of India (SBI) missed fourth-quarter profit estimates despite record earnings as higher overhead costs and interest expenses weighed, with a rise in new bad loans sending shares falling to lowest levels in over two months. • Tesla puts India entry plan on hold after deadlock on tariffs-sources Tesla has put on hold plans to sell electric cars in India, abandoned a search for showroom space and reassigned some of its domestic team after failing to secure lower import taxes, three people familiar with the matter told Reuters. • Maruti to set up manufacturing plant in north India’s biggest carmaker, Maruti Suzuki, will build a manufacturing plant that can produce up to 250,000 cars a year on an 800-acre site in northern Haryana state, it said on Friday. GLOBAL TOP NEWS • China’s economy cools sharply in April as lockdowns bite China’s economic activity cooled sharply in April as widening COVID-19 lockdowns took a heavy toll on consumption, industrial production and employment, adding to fears the economy could shrink in the second quarter. • Battle rages for Ukrainian region of Donbas Russia pummelled positions in the east of Ukraine on Sunday, its defence ministry said, as it sought to encircle Ukrainian forces in the battle for Donbas and fend off a counteroffensive around the strategic Russian-controlled city of Izium. • Elon Musk says Twitter legal team told him he violated an NDA Elon Musk on Saturday tweeted that Twitter’s legal team accused him of violating a nondisclosure agreement by revealing that the sample size for the social media platform’s checks on automated users was 100. GLOBAL MARKETS • Wall Street surged on Friday to end higher, closing the book on a week of wild market gyrations as relief at signs of peaking inflation vied with fears that policy tightening by the Federal Reserve could tilt the economy into recession. • Asian share markets were struggling to sustain even a minor rally after shockingly weak data from China underlined the deep damage lockdowns were doing to the world’s second-largest economy. • The dollar started the week just off a 20-year high against peers, as investors sought safety due to fears about global growth while cryptocurrency markets appeared to find some stability after last week’s turmoil. • Treasury yields rose on Friday, reversing the week’s rally in bond prices driven by the largest weekly inflows since the COVID-19 pandemic slammed markets in March 2020, as fears of a Federal Reserve policy error and runaway inflation eased. • Oil prices slipped, giving up earlier gains as investors took profits after a surge in the previous session, but global supply fears loomed with the European Union preparing to phase in a ban on imports from Russia. • Gold edged up from a more than three-month trough hit in the previous session, as lower U.S. Treasury yields kept demand for zero-yield bullion afloat above the key psychological support level of around $1,800 per ounce. CLOSE FII EQUITIES DEBT INVESTMENTS PNDF spot 77.40/77.43 May 13 (4,809.89) (340.42) crore crore 10-yr bond 7.318% Month-to-date (25,216) (4,342) yield crore crore Year-to-date (1,52,378) (12,292) crore crore (FII investment numbers are in Indian rupees. Source: National Securities Depository Limited) 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=77.49 Indian rupees) (Compiled by Yoganand KN in Bengaluru)

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