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INDIA TOP NEWS

State Bank of India sees rising profits as asset quality improves

State Bank of India expects to increase its profits and has "complete control" over its non-performing loans, its chairman

said after the country's top lender by assets reported its first quarterly profit in four.

Tata Group in talks to buy majority stake in Jet Airways -TV

Tata Group is in talks to buy a majority stake in beleaguered carrier Jet Airways and its loyalty programme, television

news channel CNBC-TV18 reported on Monday, citing sources.

India October services activity jumps, boosted by stronger orders

Activity in India's dominant services sector increased at its fastest pace in three months in October, driven by a strong

pick-up in new business, a private survey showed on Monday.

India govt says some shadow lenders face liquidity stress, puts pressure on RBI to ease

A top Indian government official on Monday said the nation's non-banking housing finance companies were facing

liquidity stress, in comments that are likely to put more pressure on the Indian central bank to ease its policy towards the

sector.

Cipla warns of headwinds in second half after Q2 profit miss

Cipla, India's second-largest drugmaker by market capitalisation, warned on Monday of "multiple headwinds" in the

second half of the financial year after its quarterly profit fell short of analysts' estimates.

GAIL (India) Q2 profit jumps 50 percent, tops estimates

State-run gas utility GAIL (India) posted a 50 percent jump in second-quarter profit on Monday, boosted by higher

revenue from its natural gas marketing business.

Fortis Healthcare posts quarterly loss

Hospital operator Fortis Healthcare, which is set to be acquired by Malaysia's IHH Healthcare, posted a quarterly loss

due to impairment charges.

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GLOBAL TOP STORIES

U.S. networks drop 'racist' Trump ad as critical elections near

NBC, Fox News and Facebook pulled an ad by President Donald Trump's campaign that critics had labeled racist as a

bitter election fight for control of the U.S. Congress headed on Monday for an unpredictable finish.

China's Xi promises to raise imports amid trade row with U.S.

Chinese President Xi Jinping promised on Monday to lower tariffs, broaden market access and import more from

overseas at the start of a trade expo designed to demonstrate goodwill amid mounting frictions with the United States

and others.

U.S. reimposes Iran sanctions, Tehran decries 'bullying'

The United States on Monday restored sanctions targeting Iran's oil, banking and transportation sectors and threatened

more action to stop its "outlaw" policies, steps the Islamic Republic called economic warfare and vowed to defy.

STATE OF THE MARKETS

SGX Nifty nearest-month futures were trading at 0.3 percent higher at 10,590, from its previous close. - NewsRise

The Indian rupee is expected to open higher against the U.S. currency as the dollar index declined ahead of the U.S.

mid-term elections. - NewsRise

Indian government bonds are likely to open higher ahead of an open market purchase of notes by the Reserve Bank

of India. The yield on the benchmark 7.17 percent bond maturing in 2028 is expected to trade in a 7.78 percent - 7.83

percent band today. - NewsRise

The S&P 500 rose on Monday with boosts from financial, energy and defensive sectors as investors showed some

caution on the eve of U.S. congressional elections.

Asian shares ticked up, supported by Wall Street gains although sentiment was tempered ahead of the U.S. midterm

elections, the first major electoral test of President Donald Trump's big tax cuts and hostile trade policies.

The dollar stuck to tight ranges against its major rivals as investors favoured caution ahead of U.S. midterm elections

later in the day.

U.S. Treasury yields fell on Monday as traders stepped back into the bond market following last week's sell-off to

reduce their bearish positions and hedge against any surprises in the U.S. congressional elections.

Oil prices slipped as concerns that an economic slowdown may curb fuel demand growth overshadowed the

reintroduction of sanctions on Iran.

Gold prices were steady ahead of U.S. midterm elections that may fuel interest in the metal as a hedge against risk if the result sparks volatility in wider financial markets.

CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 73.04/73.07 November 5 $1.69 mln -$8.89 mln

10-yr bond yield 7.80 pct Month-to-date $108.8 mln $500.89 mln

Year-to-date -$5.82 bln $7.60 bln

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(Morning News Call - India edition will not be published on Wednesday, November 7 and Thursday, November 8 as markets are closed for Diwali Laxmi Puja and Diwali Balipratipada respectively) PICTURE OF THE DAY

A salesman shows gold necklaces to a customer at a jewellery showroom during Dhanteras, a Hindu festival associated with Lakshmi, the goddess of wealth, in Kolkata, November 5. REUTERS/Rupak De Chowdhuri

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