MORNING NEWS CALL

FACTORS TO WATCH 10:00 am: Indiabulls Real Estate annual general meeting in New Delhi. 10:00 am: Harvard, NITI Aayog and NIPFP organize Symposium on “Building Financial Systems of the 21st Century” in New Delhi. 10:00 am: Law Minister Ravi Shankar Prasad, BSNL Chairman Anupam Shrivastav, Vodafone India Vice President Deepankar Ghosal, Cisco India Director Sandeep Arora at India Mobile Congress 2017 in New Delhi. 12:00 pm: HDFC Bank Digital Bank Country Head Nitin Chugh at launch of center for digital excellence in Mumbai. 12:00 pm: DLF annual general meeting in Gurugram. 1:30 pm: Maruti Suzuki India MD Kenichi Ayukawa and Suzuki Motorcycle MD Satoshi Uchida at ECSTAR launch in New Delhi. 2:30 pm: Railway Minister Piyush Goyal to launch additional Mumbai suburban train services in Mumbai. 3:00 pm: Telecom Commission meeting in New Delhi. 3:30 pm: Just Dial annual general meeting in Mumbai. 5:00 pm: RBI to release weekly foreign exchange data in Mumbai. LIVECHAT - WEEKAHEAD Reuters EMEA markets editor Mike Dolan discusses the upcoming week's main market inflection points at 3:30 pm IST. To join the conversation, click here INDIA TOP NEWS India sticks to 2017/18 borrowing target, open to extra bond sales India's federal government on Thursday stuck to its budgeted market borrowing target for the fiscal year ending in March 2018 but held out the possibility of selling additional bonds to fund any new spending. India says GE diesel locomotive factory on track, but to pursue electrification General Electric's plan to build a diesel locomotive factory in eastern India is proceeding as planned, the nation's railways minister said on Thursday, aiming to allay the U.S. firm's concerns that India was unilaterally making changes to the contract. RBI increases foreign investment limits for debt India's central bank said on Thursday it would raise the foreign investment limits for government bonds by 80 billion rupees to 2.5 trillion rupees for the October-December quarter, after current quotas had been almost fully exhausted. Ford's Welsh engine plant to lose JLR business in 2020 Jaguar Land Rover will stop sourcing petrol engines from Ford's plant in Bridgend, Wales, after ending its current contract earlier than expected in 2020, creating uncertainty over around 750 jobs. MAS Financial Services IPO to open on October 6 Indian non-banking financial company MAS Financial Services Ltd's initial public offering of shares to raise up to 4.6 billion rupees will run from October 6 to October 10, according to a public notice issued on Thursday. GLOBAL TOP STORIES White House battles critics over tax plan as lawmakers prepare to act The White House struggled on Thursday to defend its new tax plan against criticism that it would help the rich at the expense of lower classes, as Republicans in Congress prepared to move ahead with actual legislation. China sets 2019 deadline for automakers to meet green-car sales targets China has set a deadline of 2019 to impose tough new sales targets for electric plug-in and hybrids vehicles, slightly relaxing an earlier plan to launch the rules from next year that had left global automakers worried about being able to comply.

REUTERS INDIA EDITION Friday, September 29, 2017

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MORNING NEWS CALL - INDIA EDITION September 29, 2017

Japan's inflation, labour demand and factory output signal solid economic recovery Japan's core inflation accelerated in August, industrial output rose more than expected and demand for labour remained at its strongest in over 40 years in a further sign of solid momentum in the world's third-largest economy.

STATE OF THE MARKETS The SGX Nifty Futures were at 9,769.00, trading up 0.3 percent from its previous close. Indian government bonds are likely to edge higher in early trade as the federal government’s borrowing plan for the second half of the fiscal year was along expected lines. The yield on the benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 6.60 percent-6.66 percent band.- NewsRise The Indian rupee will likely edge higher against the dollar on expectations of capital inflows after the nation’s central bank raised the limit for foreign investments in government debt. - NewsRise Wall Street edged higher on Thursday, as the S&P 500 eked out a record on gains in McDonald's and healthcare names, while investors continued to hope President Donald Trump will be able to make progress on tax reform. Asian shares tried to regain some poise after a tough week in which the gathering risk of a U.S. rate rise lifted Treasury yields toward nine-year highs and boosted borrowing costs across the region. The dollar inched higher against a basket of major currencies, having pulled back from one-month highs set this week as investors pondered the Trump administration's tax plan and the outlook for Federal Reserve policy. The yield spread between shorter and longer-dated U.S. Treasuries grew on Thursday in the aftermath of a tax plan that raised concerns about faster growth in the federal deficit and borrowing. Oil prices rose, with both Brent and U.S. crude set to chalk up another weekly gain as investors bet that efforts to cut a global glut are working and that the demand outlook is improving. Gold prices held steady just above the previous session's six-week low, supported by a weaker dollar, but remained on course for their biggest monthly fall this year.

CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 65.51/65.54 September 28 -$813.93 mln -$164.73 mln

10-yr bond yield 6.96 pct Month-to-date -$1.11 bln $75.77 mln

Year-to-date $5.90 bln $23.22 bln

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MORNING NEWS CALL - INDIA EDITION September 29, 2017

PICTURE OF THE DAY

Hindu devotees perform Garba, a traditional folk dance, during the celebrations to mark the Navratri festival, in which devotees worship Hindu goddess Durga, at Surat in the western state of Gujarat, India, September 28. REUTERS/Amit Dave (India Morning Newsletter will not be published on Monday, October 2, as markets are closed for Mahatma Gandhi Jayanti.)

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