President Mukherjee to present awards.

GOVT BEAT
* Financial Services Secretary Sandhu to be present at launch of National Housing Bank's Grievance Registration and Information Database System. 1030 IST, New Delhi.
* Gujarat State Budget. 1200 IST, Gandhinagar.
* President Mukherjee to present National Awards, Shilp Guru Awards and Sant Kabir Awards to craftspersons and weavers.  1200 IST, New Delhi.

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INVESTMENT SEMINAR

CONFERENCES
* INVESTMENT SEMINAR: Department of Industrial Policy and Promotion Secretary Kant to address the Kyushi-India Investment Seminar. 1530 IST, New Delhi.

RBI COUNTER
* DAILY LAF TENDERS: One set of 1-day reverse repo (at 7.00%) and 1-day repo (at 8.00%). Bids for repo tender may be submitted between 0930 IST and 1030 IST, and reverse repo between 1900 IST and 1930 IST.

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RBI COUNTER

RBI COUNTER
* DAILY LAF TENDERS: One set of 1-day reverse repo (at 7.00%) and 1-day repo (at 8.00%). Bids for repo tender may be submitted between 0930 IST and 1030 IST, and reverse repo between 1900 IST and 1930 IST.

* T-BILL AUCTIONS: RBI to hold auctions of 80 bln rupees of 91-day T-bills, and 60 bln rupees of 364-day T-bills.
+ 91-DAY: Yield seen at 8.56-8.60% vs 8.56% a week ago.
+ 364-DAY: Yield seen at 8.58-8.63% vs 8.60% a fortnight ago.

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STOCK MARKETS

GLOBAL STOCK MARKETS
* Key US indices ended flat on Monday, with the S&P 500 and Dow Jones Industrial Average snapping its six-session rally as action was largely stock-specific due to corporate news.

* Key Asian indices were mixed following a lacklustre lead from Wall Street. A strong yen against the dollar dragged Japan's Nikkei down nearly 1%.

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INDICATORS (previous session)
* NSE provisional net buy/(sale) in bln rupees, Jun 20: FII (2.21), DII 0.72
* FII NSE futures net buy/(sale) in bln rupee, Jun 20: index 0.41, shr 0.69
* Sensex 25105.51, down 96.29 points; Nifty 7511.45, down 29.25 points
* Crude: $106.83/bbl; Rupee: 60.1800/$1; Gold:$1,316.6/ounce; 10-yr yld:8.7239%.

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CONFERENCES
* CII MEET: Broadcast Minister Javadekar will address CEOs Roundtable on Media and Entertainment, organised by Confederation of Indian Industry. 1230 IST, New Delhi.

RBI COUNTER
* DAILY LAF TENDERS: One set of 1-day reverse repo (at 7.00%) and 1-day repo (at 8.00%). Bids for repo tender may be submitted between 0930 IST and 1030 IST, and reverse repo between 1900 IST and 1930 IST.

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Kapil Sibal addressing the CII

The Union Minister for Communications and Information Technology,Kapil Sibal addressing the CII on The Governance Conundrum,is it Law or Enforcement,in New Delhi on April 03,2013.

CONFERENCES
* CII MEET: Broadcast Minister Javadekar will address CEOs Roundtable on Media and Entertainment, organised by Confederation of Indian Industry. 1230 IST, New Delhi.

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What's Happening, and Where, on Jun 18

INDICATORS (previous session)
* NSE provisional net buy/(sale) in bln rupees, Jun 17: FII 0.48, DII (2.37)
* Institutional net buy/(sale) in bln rupees, Jun 16: FIIs (1.43), MF (0.62)
* FII NSE futures net buy/(sale) in bln rupee, Jun 17: index (1.89), shr (12.3)
* Sensex 25521.19, up 330.71 points; Nifty 7631.70, up 98.15 points
* Crude: $106.36/bbl; Rupee: 60.03/$1; Gold: $1,271.70/ounce; 10-yr yld: 8.5978%

OUTLOOK
* May open flat amid weak cues from most Asian markets. Caution is likely ahead of outcome of US Federal Open Market Committee's monetary policy meeting.

GLOBAL STOCK MARKETS
* US indices ended up for the third consecutive session on Tuesday due to rise in financial and technology stocks, but gains were limited as geopolitical tensions in oil-rich Iraq showed no signs of abating.
* Asian: Most Asian indices were weak, with investors awaiting outcome of US Federal Open Market Committee's monetary policy meeting, due later today.

DATA ALERT
From OVERSEAS
> BANK OF ENGLAND MONETARY POLICY COMMITTEE Meeting Minutes for Jun. 1400 IST
> EUROZONE CONSTRUCTION OUTPUT DATA for April. 1430 IST
> US MBA WEEKLY MORTGAGE APPLICATIONS SURVEY. 1630 IST
> US EIA WEEKLY PETROLEUM STATUS REPORT. 2000 IST
> US INTEREST RATE DECISION, followed by Janet Yellen press briefing. 2330 IST
> US FEDERAL RESERVE economic projections; 2330 IST .

CONFERENCES
* INVESTMENT MEET: Cabinet Secretariat and Head of Project Monitoring Group's Additional Secretary Swarup to address FICCI's session on 'Optimising Project Clearance Framework for Stimulating Investments. 1130 IST, New Delhi.
* REALTY SUMMIT: Google India Industry Director Bawankule to address a media Roundtable to release a study on real estate sector in India and the influence of internet. 1500 IST, New Delhi.

RBI COUNTER
* DAILY LAF TENDERS: One set of 1-day reverse repo (at 7.00%) and 1-day repo (at 8.00%). Bids for repo tender may be submitted between 0930 IST and 1030 IST, and reverse repo between 1900 IST and 1930 IST.
* T-BILL AUCTIONS: RBI to hold auctions of 80 bln rupees of 91-day T-bills, and 60 bln rupees of 182-day T-bills.
+ 91-DAY: Yield seen at 8.52-8.56% vs 8.56% a week ago.
+ 182-DAY: Yield seen at 8.58-8.63% vs 8.59% a fortnight ago.
+ TERM REPO TENDER: One set of 2-day variable rate term repo for 100 bln rupees. Bids for term repo tender may be submitted between 1100 and 1130 IST.

MARKETS
Call : May open firm on likely strong demand from banks to cover reserve needs. Seen easing intraday. 1-day call: 8.10% vs 7.90-8.20% Tue.
Bonds : Seen steady at open. To track global cues, oil prices. May take cues from rupee movement intraday. 10-yr yld: 8.56-8.62% vs 8.60% Tuesday.
Rupee : To track global cues. Caution likely ahead of FOMC meet outcome. Range: 59.80-60.20/$1 vs 60.03/$1 Tuesday.
Stocks: Seen up on positive cues from most overseas markets. Nifty range 7580-7680; Tuesday-end 7631.70, up 98.15 points.

MEDIA PICKS
* Amit Shah all set to be BJP chief, party debates timing (HT)
* BJP readies to form govt in Delhi ahead of budget (HT)
* UP: Akhilesh sacks minister, reshuffles portfolios (var)
* Uttar Pradesh Governor Joshi resigns, more on the way out (PTI)
* Uttarakhand Governor Quereshi given extra charge of Uttar Pradesh (Cogencis)
* Delhi constable's family to get 10-mln-rupee assistance (PTI)
* Munde death: CBI inspects crime scene (PTI)
* JK assembly polls: PDP releases first list of candidates (PTI)
* Schoolteacher 'murdered' in Debra, body hung from tree (ToI)

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Asian Shares Mostly Lower but Nikkei Gains

US STOCKS

      Stocks ended little changed, as investors weighed the turmoil in Iraq against positive manufacturing data and a burst of corporate deal-making. Stocks spent the day fluctuating between gains and losses, with investors hesitant to lay big bets in either direction amid instability in Iraq and a coming update on Wednesday from the Federal Reserve. Traders reported light volumes, deepening a lull in trading activity that has settled across Wall Street trading desks this spring.

       Investors, meanwhile, focused on a raft of just-announced corporate deals. Covidien soared 21% after the medical-device maker said over the weekend that it agreed to be acquired by rival Medtronic for $42.9 billion. Medtronic's stock slipped 1.1%.

      Level 3 Communications announced an agreement to buy TW Telecom for about $5.6 billion in cash and stock. Shares of Level 3 fell 4.1%, while TW's surged 7.3%.

ASIAN STOCKS

     The Nikkei started the day 0.6% higher, as the market recovered from a 1.1% drop on Monday--the index's largest daily fall in a month. The index gave up some of those gains as the session progressed, and was last up 0.5%.

        Australia's S&P/ASX 200 lost 0.2%, as mining companies were hit by further falls in the price of iron ore, which fell 2% to a fresh 21-month low. Rio Tinto lost 0.9% and Fortescue Metals Group was 2.7% lower.

         In China stocks were lower, with Hong Kong's Hang Seng Index down 0.4% and the Shanghai Composite down 0.5%.

           Trading was generally quiet, following a flat session in the U.S. overnight, as markets waited for the conclusion of the Federal Reserve's policy meeting on Wednesday, which will give an update on the direction of monetary policy in the world's largest economy.

FOREX

The greenback was last trading at Y102.03, compared with Y101.83 late Monday in New York.

METALS

Nickel prices rose on continuing supply concerns Monday, leading base metals on the London Metal Exchange to close mostly higher.

At the close of open outcry trading in the London ring, LME three-month nickel was up 3.2% from Friday's settlement price, closing the day at $18,625 a metric ton.

OIL SUMMARY

U.S. and global oil prices diverged Monday as investors remained focused on the possible repercussions of instability in Iraq.

Light, sweet crude for July delivery, the U.S. benchmark, settled 1 cent lower at $106.90 a barrel on the New York Mercantile Exchange. Brent futures rose 48 cents, or 0.4%, to $112.94 a barrel on the ICE Futures Europe exchange.

TOP HEADLINES

* Japan Fin Min Aso: Govt Considering Law Change to Curb Pension Payments

* Google Faces New Woes On Antitrust In Europe

* U.S., Iran Discuss Crisis in Iraq -- 2nd Update

* HSBC Taps New Chief Executive For U.S. Business

* Allergan's Bitter Pill for Morgan Stanley

* Thai Military Co-Opts Populist Policies of Government Deposed by Coup

* Iraq Government Loses Control of Another Key City

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What's Happening, and Where, on Jun 16

INDICATORS
* NSE provisional net buy/(sale) in bln rupees, Jun 13: FII 10.99, DII 3.59
* FII NSE futures net buy/(sale) in bln rupee, Jun 13: index (5.75), shr 4.5
* Sensex 25228.17, down 348.04 points; Nifty 7542.10, down 107.80 points
* Crude: $106.91/bbl; Rupee: 59.76/$1; Gold: $1,273.7/ounce; 10-yr yld: 8.5953% .

WEEKLY SECTOR OUTLOOK
* AUTOMOBILE: Seen rising on positive market sentiment
* BANKS: To trade with negative bias, WPI eyed
* CEMENT: To follow market trend; bias negative
* CAPITAL GOODS: Seen range-bound with a negative bias
* FMCG: In range on delayed monsoon concernas
* IT: To consolidate; rupee movement in focus
* METAL: Profit-booking to continue amid positive bias
* OIL: PSUs to fall more; crude prices key
* PHARMA: To be range-bound with positive bias
* TELECOM: Some gains seen, rest range bound .

GLOBAL STOCK MARKETS
* US: Gains in technology shares helped US indices end higher on Friday but escalating tensions in Iraq kept investors on the edge, capping gains.
* Key Asian markets: Asian indices were down amid escalation of tensions in Iraq.

DATA ALERT
> JAPAN MONTHLY REPORT for Jun. 1030 IST.
> EU HARMONISED CPI for May. 1430 IST.
> US EMPIRE STATE MANUFACTURING SURVEY for Jun. 1800 IST.
> US TREASURY INTERNATIONAL CAPITAL DATA for Apr. 1830 IST.
> US INDUSTRIAL PRODUCTION & CAPACITY UTILISATION for May. 1845 IST.
> US 1900 IST. IMF PRESS CONFERENCE ON ANNUAL CHECK-UP OF US ECON. 1900 IST.
> US QUARTERLY FINANCIAL REPORT: RETAIL TRADE for first quarter. 1930 IST.
> US NAHB HOUSING MARKET INDEX for Jun. 1930 IST.

From INDIA
> WPI inflation for May, by commerce and industry ministry.

RBI COUNTER
* DAILY LAF TENDERS: One set of 1-day reverse repo (at 7.00%) and 1-day repo (at 8.00%). Bids for repo tender may be submitted between 0930 IST and 1030 IST, and reverse repo between 1900 IST and 1930 IST.

Markets
Call  : Seen opening above repo rate as banks may borrow to meet demand for advance tax payment. 1-day call: 8.30% vs 5.00-7.00% 1-day Sat.
Bonds : Seen slightly up due to value buying after the sharp fall Fri. 10-yr yld: 8.53-8.62% vs 8.59% Fri.
Rupee : To take cues from global mkts. RBI seen keeping unit in range. Range: 58.90-59.90/$1 Mon vs 59.76/$1 Fri.
Stocks: Seen opening down on extended profit booking, weak Asian cues Nifty range 7450-7600; Friday-end 7542.10, down 107.80 points.

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What's Happening, and Where, on Jun 12

RBI Diary

* Deputy Governor Khan to speak at a conference organised by SBICAP Securities. 1045 IST, Mumbai.

CORPORATE EVENTS

* EARNINGS for quarter/year ended March to be detailed, among others, by

  + SANJIVANI PARANTERAL

  + SAREGAMA INDIA

  + TULSI EXTRUSIONS

  + ZENITH BIRLA (INDIA)

GOVT BEAT

* Parliamentary Affairs Minister Naidu to address press conference. 1600 IST, New Delhi.

DATA ALERT

From OVERSEAS

  > GERMANY WPI for May. 1130 IST

  > FRANCE BALANCE OF PAYMENTS for April. 1215 IST

  > FRANCE CPI for May. 1215 IST

  > EU LONG TERM INTEREST RATES STATISTICS in May. 1330 IST

  > EU INDUSTRIAL PRODUCTION in April. 1430 IST

  > US JOBLESS CLAIMS for week to Jun 7. Seen 310,000 vs 312,000. 1800 IST

  > US EIA NATURAL GAS STORAGE REPORT for week to Jun 6. 2000 IST

From INDIA

  > INDEX OF INDUSTRIAL PRODUCTION for April, by CSO.

  > CPI FOR COMBINED, RURAL, AND URBAN for May, by CSO.

CONFERENCES

* BFSI CONFERENCE: RBI Deputy Governor Khan, SBI Chairman Bhattacharya. and HDFC Chairman Parekh to speak. 0915 IST, Mumbai.

RBI COUNTER

* DAILY LAF TENDERS: One set of 1-day reverse repo (at 7.00%) and 1-day repo (at 8.00%). Bids for repo tender may be submitted between 0930 IST and 1030 IST, and reverse repo between 1900 IST and 1930 IST.

MARKETS

Call  : Seen opening above repo on likely strong demand from banks to meet reserve needs. 1-day call: 8.10-8.20% vs 7.10-7.25% Wednesday.

Bonds : Seen up on likely purchases by FIIs after limit auction Wednesday. 10-year yield: 8.48-8.55% vs 8.53% Wednesday.

Rupee : May open tad down noting dollar's broad strength. To take cues from NDF, other Asian currencies. Range: 59.15-59.50/$1 vs 59.27 Wednesday.

Stocks: Seen consolidating further; economic data releases eyed. Nifty range 7550-7650; Wednesday-end 7626.85, down 29.55 points.

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What's Happening, and Where, on Jun 10

DATA ALERT
* from OVERSEAS
> JAPAN PRELIMINARY MACHINE TOOL ORDERS in May. 1130 IST
> GERMANY MANUFACTURING TURNOVER in Apr. 1130 IST
> FRANCE INDUSTRIAL PRODUCTION INDEX for Apr. 1215 IST
> ITALY INDUSTRIAL PRODUCTION in Apr. 1330 IST
> UK MONTHLY INDUSTRIAL PRODUCTION in Apr. 1400 IST
> ITALY GDP for Jan-Mar. 1430 IST
> FRANCE OECD COMPOSITE LEADING INDICATORS for Apr. 1530 IST
> US ICSC-GOLDMAN SACHS CHAIN STORE SALES in week to Jun 7. 1715 IST
> US JOHNSON REDBOOK RETAIL SALES INDEX for week to Jun 7. 1825 IST
> US WHOLESALE TRADE in Apr. 1930 IST

From INDIA
> SOCIETY OF INDIAN AUTOMOBILE MANUFACTURERS TO DETAIL AUTOMOBILE SALES for May. 1030 IST, Delhi.

CONFERENCES
* REFORM MEET: Finance Ministry Principal Economic Adviser Patnaik to speak at a panel discussion on reform agenda. 0945 IST, New Delhi.
* MINE REVIVAL: CII meet on Revival of Mining Industry. Mines Secy Pujari to be present. 1000 IST, New Delhi.

RBI COUNTER
* DAILY LAF TENDERS: One set of 1-day reverse repo (at 7.00%) and 1-day repo (at 8.00%). Bids for repo tender may be submitted between 0930 IST and 1030 IST, and reverse repo between 1900 IST and 1930 IST.
* STATE DEVELOPMENT LOAN AUCTION: RBI to hold auction of bonds of eight states--Assam, Goa, Maharashtra, Manipur, Mizoram, Punjab, Rajasthan and Tamil Nadu--worth 41.30 bln rupees.

MARKETS Call : Seen opening above repo rate on likely strong demand from banks to meet reserve needs. 1-day call: 8.10-8.30% vs 8.00% Monday.
Bonds : Seen in a thin band. Traders to avoid big buys on lack of cues. 10-year yield: 8.51-8.57% vs 8.55% Monday.
Rupee : May open steady to tad up. RBI's dollar purchases likely to check gains. May track local shares. Range: 58.95-59.60/$1 Tue vs 59.20/$1 Monday.
Stocks: Seen testing record highs amid positive cues from overseas markets. Nifty range 7600-7700; Monday-end 7654.60, up 71.20 points.

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What's Happening, and Where, on Jun 9.

INDICATORS

* NSE provisional net buy/(sale) in bln rupees, Jun 6: FII 12.83, DII (3.15)

* FII NSE futures net buy/(sale) in bln rupee, Jun 6: index (4.21), shr 6.07

* Sensex 25396.46, up 376.95 points; Nifty 7583.40, up 109.30 points

* Crude: $102.66/bbl; Rupee: 59.18/$1; Gold: $1,252.30/ounce; 10-yr yld: 8.5130%


BUSINESS AND ECONOMY

INDIA-RELATED

* Honda may hire 1,000 in India by end of fiscal.

* Facebook COO's first India visit to focus on SMEs, developers.

* GoAir looks to increase capacity by 21% in FY15.

* DIPP wants more restrictions in pharma sector, seeks FIPB nod for FIIs.

* Vodafone says it is facing tax liability of over 270 bln rupees in India.


FROM OVERSEAS

* Credit Suisse set to make 60 mln sterling gains from Alibaba IPO.

* Wall Street 'fear gauge' hits 7-year low.




SPORTS

* Rafa Nadal secures his ninth French Open title at Roland Garros.

* West Bengal Football Academy inaugurated.

* Ricciardo gives Red Bull first F1 win with victory over Rosberg in Canada.




OF INTEREST

* Soon, 'neurotic' robots that think like humans.

* Dinosaur-era flying reptiles were extremely social.


DATA ALERT from OVERSEAS

> JAPAN CONSUMER CONFIDENCE SURVEY for May. 1030 IST

> CANADA HOUSING STARTS for May. 1745 IST

> US INDUSTRY FINANCIAL REPORT for Jan-Mar. 1930 IST

> US EMPLOYMENT TRENDS INDEX for May. 1930 IST




RBI COUNTER

* DAILY LAF TENDERS: One set of 1-day reverse repo (at 7.00%) and 1-day repo (at 8.00%). Bids for repo tender may be submitted between 0930 IST and 1030 IST, and reverse repo between 1900 IST and 1930 IST.




MARKETS

Call : Seen opening near RBI repo rate as liquidity remains comfortable in banking system. 1-day call: 8.00-8.50% vs 8.10-8.50 2-day Sat.

Bonds : Seen steady due to strong appetite from traders. 10-year yield: 8.48-8.60% vs 8.51% Friday. Rupee : Seen moving in the range of 58.9000-59.9000 a dollar against Friday's close at 59.1800 dollar. Stocks: Seen opening marginally up tracking positive overseas markets. Nifty range 7500-7630; Friday-end 7583.40, up 109.30 points.




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What's Happening, and Where, on Jun 6.

INDICATORS 

* NSE provisional net buy/(sale) in bln rupees, Jun 5: FII 13.69, DII (4.26)

* FII NSE futures net buy/(sale) in bln rupee, Jun 5: index (8.89), shr 8.65

* Sensex 25019.51, up 213.68 points; Nifty 7474.10, up 71.85 points

* Crude: $102.48/bbl; Rupee: 59.33/$1; Gold: $1,253.3/ounce; 10-yr yld: 8.5265%

STOCKS

* CAIRN INDIA: BHARAT PETROLEUM CORP AND HINDUSTAN PETROLEUM CORP have shown

interest in buying crude oil from the company.

* FINANCIAL TECHNOLOGIES: The Forward Markets Commission has directed the board

of arm National Spot Exchange to accelerate the process of recovering money from defaulters.

* HERO MOTOCORP: Likely to save 10 bln rupees in 2014-15 with its ongoing margin transformation programme, and the amortised payments to Honda coming to an end in June.

* INFOSYS: Prasad Thrikutam, senior vice-president and global head of strategic sales, marketing and alliances, has resigned.

* MARUTI SUZUKI: Is setting up a new engine production line at its Gurgaon plant with a capacity of 150,000 units a year for its new series of self-developed diesel engines.

* NMDC: Produced 4.94 mln tn of iron ore in May, almost flat compared with 4.90 mln tn in the same month last year.

DATA ALERT

  > JAPAN PRELIMINARY RELEASE OF INDEX OF BUSINESS CONDITION for Apr; 1030 IST

  > UK TRADE DATA for Apr; 1400 IST

  > BANK OF ENGLAND EXTERNAL BUSINESS STATISTICS for Jan-Mar; 1400 IST

  > US EMPLOYMENT REPORT for May; 1800 IST

RBI COUNTER

* DAILY LAF TENDERS: One set of 3-day reverse repo (at 7.00%) and 3-day repo (at 8.00%). Bids for repo tender may be submitted between 0930 IST and 1030 IST, and reverse repo between 1900 IST and 1930 IST.

* TERM REPO TENDER: One set of 28-day variable rate special term repo for 200 bln rupees. Bids for term repo tender may be submitted between 1430 IST and 1500 IST.

* GILT AUCTIONS: RBI to auction 40 bln rupees of new 6-year bond, 70 bln rupees of 8.83%, 2023 bond, 20 bln rupees of 8.32%, 2032 bond and 30 bln rupees of 8.30%, 2042 bond.

MARKETS

Call : Seen opening near RBI repo rate as liquidity remains comfortable in banking system. 3-day call: 7.50-8.15% vs 8.30-8.35% 1-day Thu.

Bonds : Seen up on Fri on expectation of strong demand at the auction. 10-year yield: 8.50-8.58% vs 8.52% Thu.

Rupee: To take global cues post ECB rate cut, disappointing weekly US jobs data. Range: 58.90-59.90/$1 Fri vs 58.33/$1 Thu.

Stocks: Set to rise further backed by global markets trend. Nifty range 7400-7550; Thursday-end 7474.10, up 71.85 points.

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What's Happening, and Where, on Jun 5

INDICATORS

* NSE provisional net buy/(sale) in bln rupees, Jun 4: FII 1.93, DII (1.92)

* Institutional net buy/(sale) in bln rupees, Jun 3: MF 0.64

* FII NSE futures net buy/(sale) in bln rupee, Jun 4: index (6.45), shr 7.89

* Sensex 24805.83, down 52.76 points; Nifty 7402.25, down 13.60 points

* Crude: $102.40/bbl; Rupee: 59.33/$1; Gold: $1,244.3/ounce; 10-yr yld: 8.5876%

GOVT BEAT

* Finance Minister Jaitley to hold pre-budget consultations with farm sector representatives. 0930 IST, New Delhi.

* Minister of State with Independent Charge for Textiles Gangwar to be chief guest at the

National Institute of Fashion Technology. 1600 IST, New Delhi.

* Finance Minister Jaitley to hold pre-budget consultations with social sector representatives. 1700 IST, New Delhi.

DATA ALERT

  > JAPAN IMPORTED VEHICLE SALES DATA for May; 0730 IST

  > UK HALIFAX HOUSE PRICE INDEX for May; 1230 IST

  > UK MONTHLY CAR REGISTRATIONS DATA for May; 1330 IST

  > EU RETAIL PURCHASING MANAGERS' INDEX for May; 1340 IST

  > EU RETAIL TRADE DATA for Apr; 1430 IST

  > BANK OF ENGLAND INTEREST RATE DECISION; 1630 IST

  > US CHALLENGER JOB-CUT REPORT for May; 1700 IST

  > EUROPEAN CENTRAL BANK INTEREST RATE ANNOUNCEMENT; 1715 IST

  > US WEEKLY EXPORT SALES DATA; 1800 IST

  > US UNEMPLOYMENT INSURANCE CLAIMS REPORT for week ended May 31; 1800 IST

  > US CONSUMER COMFORT INDEX; 1915 IST

  > US DJ-BTMU BUSINESS BAROMETER for week ended May 24; 1930 IST

  > US EIA NATURAL GAS STORAGE REPORT for week ended May 30; 2000 IST

  > US ICSC CHAIN STORE SALES TRENDS DATA for May; 2130 IST

RBI COUNTER

* DAILY LAF TENDERS: One set of 1-day reverse repo (at 7.00%) and 1-day repo (at 8.00%). Bids for repo tender may be submitted between 0930 IST and 1030 IST, and reverse repo between 1900 IST and 1930 IST.

* SPECIAL TERM REPO: One set of 28-day variable rate special term repo for 200 bln rupees.

MARKETS

Call: Seen opening around RBI's repo rate as liquidity in the banking system remains comfortable. 1-day call: 8.05% vs 8.30-8.35% Wed.

Bonds: Seen steady Thu. Traders may stay on sidelines before auction Fri. 10-year yield: 8.55-8.65% vs 8.59% Wed.

Rupee: May open up as dollar down post disappointing US jobs data. Share indices to lend cues intraday. Range: 58.90-59.60/$1 Thu vs 59.33/$1 Wed.

Stocks: Seen opening flat. Trade likely to be rangebound. Nifty range 7350-7450; Wednesday-end 7402.25, down 13.60 points.

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What's Happening, and Where, on Jun 4.

Indicators
* Nse Provisional Net Buy/(Sale) In Bln Rupees, June 3: Fii 5.75, Dii 1.00
* Institutional Net Buy/(Sale) In Bln Rupees, June 2: Mf (1.20)
* Fii Nse Futures Net Buy/(Sale) In Bln Rupee, June 3: Index (1.32), Shr 5.44
* Sensex 24858.59, Up 173.74 Points; Nifty 7415.85, Up 53.35 Points
* Crude: $102.66/Bbl; Rupee: 59.38/$1; Gold: $1,244.1/Ounce; 10-Yr Yld: 8.5978%

Global Stock Markets
* Us: After Gaining For Three Consecutive Sessions, Us Indices Retreated From All Time Highs On Tuesday, Ending Marginally In The Red.
* Asia: Most Asian Indices Were Trading Down Amid Weak Cues From Us Markets Overnight.

Sector News
* Banking: The Finance Ministry Is Mulling Creation Of A National Asset Management Company To Take Over Big Non-Performing Assets Of Banks. The Finance Ministry Discussed Various Options To Capitalise State-Owned Banks, Including Reducing Government's Stake In Some Banks Below 58%.
* Courts: The Supreme Court Will Today Pass Its Order On Whether To Allow Sahara Group To Sell Properties, Including Three Hotels In London And New York, And On Group Head Subrata Roy's Plea For Release From Jail.
* Government: Prime Minister Narendra Modi's Meeting With Secretaries Of All The Departments Scheduled Tuesday Has Been Postponed. Ahead Of The Full Budget, Ministers For Railways And Civil Aviation, D.V. Sadananda Gowda And Ashok Gajapathi Raju Met Finance Minister Arun Jaitley At The Latter's North Block Office.
* Weather: The Australian Bureau Of Meteorology Sees A 70% Chance Of El Nino Developing This Year In The Tropical Pacific Ocean And Expects The Weather Phenomenon To Be Established By August.

Stocks
* Autoline Industries: Has Not Got Suitable Offers Yet To Divest Us-Based Arm Autoline Industries Inc.
* Larsen & Toubro: Arm L&T Infrastructure Finance Plans To Issue Non-Convertible Debentures Up To 1 Bln Rupees On Private Placement Basis.
* Maruti Suzuki: Plans To Double The Dealer Outlets In The Next Three Years From 1,331 At Present.
* Orbit Corp: Morgan Stanley Asia Singapore Pte Has Bought 1.24 Mln Shares Or 1.09% Stake In Company At 22.25 Rupees Per Share.
* Tata Motors: Arm Jaguar's Us Sales In May Were 5,840 Units, Up 17% On Year, Jaguar Sales At 1,304 Units, Down 9% On Year Land Rover At 4,536 Units, Up 28% On Year.

Data Alert
* Eu Services Purchasing Managers' Index For May; 1330 Ist
* Uk Cips/Markit Services Purchasing Managers' Index For May; 1400 Ist
* Uk Narrow Money And Reserve Balances Data For May; 1400 Ist
* Eu Producer Price Index For Apr; 1430 Ist
* Eu Gdp Second Estimate For Jan-Mar; 1430 Ist
* Us Mba Mortgage Applications Survey For Week Ended May 30; 1630 Ist
* Us Adp National Employment Report For May; 1745 Ist
* Us Revised Productivity And Costs Data In Jan-Mar; 1800 Ist
* Us International Trade Data For Apr; 1800 Ist
* Us Services Purchasing Managers' Index For May; 1830 Ist
* Us Online Help Wanted Index For May; 1930 Ist
* Us Ism Non-Manufacturing Report On Business For May; 1930 Ist

Conferences
* Capital Markets: Sebi Chairman Sinha, Additional Secretary In The Ministry Of Finance Krishnan, Edelweiss Financial Services Ceo Shah, Jm Financial Chairman Kampani To Speak At Confederation Of Indian Industry Capital Markets Summit. 0930 Ist, Mumbai.
* Healthcare Meet: Health Secretary Verma To Speak At Conference On Changing Dimensions Of Healthcare In India. 1000 Ist, New Delhi.
* Agri Conference: National Academy Of Agricultural Sciences' President Ayyappan To Hold A Press Conference. 1230 Ist, New Delhi.
* Assocham Summit: Health Secretary Verma To Be Present At Assocham National Summit On Ict In Healthcare.1000 Ist, New Delhi.

Markets
Call: Seen Opening Near Repo Rate On As Liquidity Remains Comfortable In Banking System. 1-Day Call: 8.00-8.05% Vs 8.20-8.25% Tue.
Bonds: May Open Weak Wed. Prices To Recover Later Due To Upbeat Market Sentiment. 10-Year Yield: 8.55-8.65% Vs 8.60% Tuesday.
Rupee: Seen Steady-To-Tad Down. May Weaken Intraday On Dollar Demand From Cos, Importers. Shares Eyed. Range: 59.15-59.65/$1 Vs 59.3550/$1 Tue.
Stocks: Likely To Open Flat To Marginally Up; Trade Seen Rangebound. Nifty Range 7350-7450; Tuesday-End 7415.85, Up 53.35 Points.

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What's Happening, and Where, on Jun 3

MOMENTUM TO CONTINUE ON SUSTAINED FIIS BUYING.

         We expect Indian markets to open on positive note on the back of stable set of global cues. Sustained buying by FIIs is providing comfort to the markets. Yesterday they bought Rs 234 crs in cash market, Rs 318 crs in index futures and Rs 24 crs in stock futures. Short covering in 7200/7300 calls also triggered the rally. Today market will focus on RBI policy (due today at 11.am) which is expected to be largely status quo as RBI Gov would like to wait for budget next month and retail inflation in the backdrop of El Nino looming.

MOVERS & SHAKERS

        Reliance Capital: Shares of insurance companies were on buyers’ radar as the finance ministry is considering to hike FDI in insurance sector without voting rights. According to media sources, the ministry may increase FDI limit in insurance sector to 49% from current 26%.Stocks like Reliance Capital (up 11.19% to Rs 685.25), Max India (up 11.02% to Rs 293.70) and Bajaj Finserv ( up 2.63% to Rs 875.30) gained strongly on Monday, hoping for a hike in FDI limit. 

Larsen and Turbro: Shares in Larsen and Turbro (L&T) gained 6.23% at 1,645.40 on reporting robust Q4 numbers post market hours on Friday.The country’s largest engineering and construction company, has won back the Street’s confidence, with its robust execution and diversification into other regions. For the past few quarters, even though it has shown it can drive growth in a difficult environment without compromising on profitability, the Street has remained sceptical.L&T reported 69% growth in net profit for the quarter ended March on the back of improved operational performance, higher sales and an exceptional income of Rs 484 crore from dilution of its stake in L&T Finance. Net profit on a standalone basis stood at Rs 2,723 crore in the fourth quarter against Rs 1,609 crore in the same period last year.

DATA ALERT

   > UK NATIONWIDE HOUSE PRICE INDEX for May; 1130 IST

  > EU EUROZONE MANUFACTURING PMI for May; 1330 IST

  > UK CIPS/MARKIT CONSTRUCTION PURCHASING MANAGERS' INDEX for May; 1400 IST

  > EU UNEMPLOYMENT DATA for Apr; 1400 IST

  > EU EURO AREA INFLATION FLASH ESTIMATE for May; 1430 IST

  > US ICSC-GOLDMAN SACHS CHAIN STORE SALES INDEX for wk to May 31; 1715 IST

  > US JOHNSON REDBOOK RETAIL SALES INDEX for week ended May 31; 1825 IST

  > US ISM-NY REPORT ON BUSINESS for May; 1915 IST

  > US MANUFACTURERS' SHIPMENTS, INVENTORIES AND ORDERS DATA for Apr; 1930 IST

  > US IBD/TIPP ECONOMIC OPTIMISM INDEX in Jun; 1930 IST.

RBI COUNTER

* DAILY LAF TENDERS: One set of 1-day reverse repo (at 7.00%) and 1-day repo

  (at 8.00%). Bids for repo tender may be submitted between 0930 IST and

  1030 IST, and reverse repo between 1900 IST and 1930 IST.

MARKETS

Call  : Seen opening above repo rate on likely demand from banks early in session to meet reserve needs. 1-day call: 8.10% vs 7.05-7.10% Mon.

Bonds : Seen slightly down Tue ahead of RBI's policy review. Value buys to support. 10-year yield: 8.60-8.70% vs 8.66% Monday.

Rupee : May open steady before RBI policy. To take cues from policy statement, local shares. Range: 58.90-59.40/$1 Tue vs 59.1525/$1 Mon.

Stocks: Seen opening up; RBI's monetary policy to lend direction. Nifty range 7300-7450; Monday-end 7362.50, up 132.55 points.

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MARKETS TO CONSOLIDATE WITH POSITIVE BIAS.

           We expect Indian markets on positive note on expectation of revival on economy with the new NDA Govt. led by PM Narinder Modi. The Indian economy grew by 4.7% in 2013-14 the second successive year of sub-5% growth—data released on Friday after market hours showed. However, this will not have any significant effect on markets being discounted. On short term, eye will be on RBI's monetary policy review (due tomorrow) and the result of the monthly surveys on India's manufacturing and services sector for May 2014. Monthly Auto sales numbers will also start trickling in. On further cues, FIIs numbers on Friday were positive as they bought massive Rs 2978 crs in cash markets (even after excluding Kotak Mahindra's block deal of Rs 2200 crs, they were positive to the tune of Rs 778 crs).

MOVERS & SHAKERS
YES Bank: Shares of YES Bank were up 3.56% to Rs 569.45 on Friday as it launched Qualified Institutions Placement (QIP) to raise USD 500 million (Rs 5000 crore). The QIP is priced at Rs 550 per share.

Voltas : Shares in Voltas gained 3.75% to Rs 186.70 after the operating profits for the quarter ended March 31, 2014 was significantly higher by 58% at Rs 123 crores as compared to Rs 78 crores for the corresponding period previous year.

J&K Bank: Shares in J&K Bank crashed 18.42% to Rs 1501.35 on Friday on media reports indicating that the bank has undisclosed amount of Rs 2500 crore as stressed loan.―In its latest balance sheet, three loans amounting to Rs 1100 crore -which by regulatory and prudential norms are non-performing assets (NPAs) - have not been classified and declared so by the Bank.

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