World Markets At A Glance: Asian shares up; BoJ, US Fed in focus

CURRENCIES
EUR/USD: The euro was trading marginally lower against the US dollar, continuing its trend from Tuesday when it fell due to lower-than-expected April inflation in Germany at 1.1%, lower than the expected 1.3%. A lower inflation in the region may prompt the European Central Bank to opt for further monetary easing, including asset purchases that would lead to an increase in supply of euros in the market. --$1.3807 per euro today vs $1.3812 Tuesday; $1.3849 Monday.

USD/JPY: Yen was marginally up against the US dollar early in trade, recovering from the lows of the previous session as traders cut some positions ahead of the outcomes of two crucial central bank meets. --102.50 yen per $1 today vs 102.64 Tuesday; 102.48 Monday.

CONFERENCES
CORP-TAX MEET: Income Tax Commissioner Soni to speak at a seminar on corporate valuation. 1000 IST, New Delhi.

MEDIA MEET: Information and Broadcasting Minister Tewari, Department of Electronics Joint Secretary Kumar to speak at 'SMAC: For Business Transformation seminar. 1000 IST, New Delhi.

EMPLOYER-EMPLOYEE: Labour & Employment Additional Secretary Pandey to speak at seminar on 'Managing Employer Employee Relationship for Competitiveness'. 1030 IST,New Delhi.

WOMEN IN COS: HSBC India Country Head Kidwai, Welspun Global Brands MD Goenka to speak at a panel discussion on 'Women in the Corporate World'. 1130 IST, New Delhi.

RBI COUNTER
DAILY LAF TENDERS: One set of 2-day reverse repo (at 7.00%) and 2-day repo(@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 auction 90 bln rupees of 91-day T-bills, and 60 bln rupees of 364-day T-bills.
+ 91-DAY: Yield seen at 8.81-8.85% vs 8.85% a week ago.
+ 364-DAY: Yield seen at 8.85-8.95% vs 8.96% a fortnight ago.

MARKETS
Call  : Seen opening firm on tight liquidity, banks' daily fund needs. May ease intraday. 2-day call: 8.70-8.85% vs 1-day 8.50-8.55% Tue.

Bonds : Seen steady ahead of weekly gilt auction Fri, US FOMC decision. Supply may weigh. 10-yr yld: 8.80-8.88% vs 8.83% Tue.

Rupee : May open steady. Corporate dollar flows seen supporting. Mood seen cautious before US FOMC outcome. Range: 60.25-60.60/$1 vs 60.42/$1 Tue.

Stocks: Seen opening up on overseas cues; Jan-Mar earnings eyed. Nifty range 6650-6750; Tuesday end 6715.25, down 46.00 points

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What's Happening, and Where, on Apr 28

INDICATORS

*NSE provisional net buy/(sale) in bln rupees, Apr 25: FII 2.95, DII (4.17).

*FII NSE futures net buy/(sale) in bln rupee, Apr 25: index (9.32), shr (2.34).

*Sensex 22688.07, down 188.47 points; Nifty 6782.75, down 58.05 points.

*Crude: $100.91/bbl; Rupee: 60.61/$1; Gold: $1,304.60/ounce; 10-yr yld:8.8831%.

STOCK

*ADANI ENTERPRISES: Adani Group Chairman Gautam Adani has denied having received any favours from the Narendra Modi-led government in Gujarat.

 *ALSTOM INDIA: Posted Jan-Mar net profit of 1.83 bln rupees, up 40.14% from a year ago. Total income fell 15.38% year-on-year to 9.41 bln rupees.

*ALSTOM T&D INDIA: Company has clarified that it is not aware of any potential public offer for shares of its parent as per reports that set share prices zooming of ALSTOM INDIA and ALSTOM T&D INDIA Friday.

*ASHOK LEYLAND: Managing Director Vinod Dasari bought 100,000 of the company's shares on Friday.

GOVT BEAT

*Additional Director General of Foreign Trade Jerath to speak at an interactive session. 1000 IST, New Delhi.

DATA ALERT

*CHICAGO FED MIDWEST MANUFACTURING INDEX for Mar. 1800 IST

*US PENDING HOME SALES INDEX for Mar. 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  : To open around RBI's repo rate as banks will borrow to cover reserve needs early in the week. 1-day call: 8.00-8.50% vs 7.25% 2-day Sat.

Bonds : Seen opening slightly up due to value buying. Auction announcement eyed. 10-year yield: 8.83-8.90% vs 8.88% Fri.

Rupee : To take opening cues from global factors. Euro, local shares eyed. Range: 60.40-61.00/$1 vs 60.61/$1 Fri.

Stocks: Seen opening flat to marginally down. Jan-Mar earnings eyed. Nifty range 6700-6850; Friday-end 6782.75, down 58.05 points

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What's Happening, and Where, on Apr 28

INDICATORS
*NSE provisional net buy/(sale) in bln rupees, Apr 25: FII 2.95, DII (4.17)
*FII NSE futures net buy/(sale) in bln rupee, Apr 25: index (9.32), shr (2.34)
*Sensex 22688.07, down 188.47 points; Nifty 6782.75, down 58.05 points
*Crude: $100.91/bbl; Rupee: 60.61/$1; Gold: $1,304.60/ounce; 10-yr yld:8.8831%

STOCK
*ADANI ENTERPRISES: Adani Group Chairman Gautam Adani has denied having received any favours from the Narendra Modi-led government in Gujarat.
*ALSTOM INDIA: Posted Jan-Mar net profit of 1.83 bln rupees, up 40.14% from a year ago. Total income fell 15.38% year-on-year to 9.41 bln rupees.
*ALSTOM T&D INDIA: Company has clarified that it is not aware of any potential public offer for shares of its parent as per reports that set share prices zooming of ALSTOM INDIA and ALSTOM T&D INDIA Friday.
*ASHOK LEYLAND: Managing Director Vinod Dasari bought 100,000 of the company's shares on Friday.

GOVT BEAT
*Additional Director General of Foreign Trade Jerath to speak at an interactive session. 1000 IST, New Delhi.

DATA ALERT
*CHICAGO FED MIDWEST MANUFACTURING INDEX for Mar. 1800 IST
*US PENDING HOME SALES INDEX for Mar. 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  : To open around RBI's repo rate as banks will borrow to cover reserve needs early in the week. 1-day call: 8.00-8.50% vs 7.25% 2-day Sat.
Bonds : Seen opening slightly up due to value buying. Auction announcement eyed. 10-year yield: 8.83-8.90% vs 8.88% Fri.
Rupee : To take opening cues from global factors. Euro, local shares eyed. Range: 60.40-61.00/$1 vs 60.61/$1 Fri.
Stocks: Seen opening flat to marginally down. Jan-Mar earnings eyed. Nifty range 6700-6850; Friday-end 6782.75, down 58.05 points

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India Money Market Outlook: Gilts seen opening dn, call firm.

NIFTY

+ AXIS BANK (net profit seen 16.47 bln rupee +6% YoY).

+ ICICI BANK (net profit seen 24.81 bln rupee +8% YoY).

+ IDFC (net profit seen 4.87 bln rupee +8% YoY).

+ MARUTI SUZUKI INDIA (net profit seen 8.96 bln rupee -27% YoY).

F&O

+ EXIDE INDUSTRIES (net profit seen 1.46 bln rupee -25% YoY).

+ SIEMENS (net profit seen 806 mln rupee +169% YoY).

+ UPL (net profit seen 3.29 bln rupee +18% YoY).

CONFERENCES

* STEEL AWARENESS: Steel Secretary Kumar, Steel Authority of India Director (Technical) Mohanty, and environment ministry additional secretary Kumar to speak at FICCI's seminar Promoting Awareness and Usage of Steel Slag-Ushering in a New Era'. 1030 IST. New Delhi.

* PRICING DILEMMA: GAIL Chairman and Managing Director Tripathi to speak at a conference on Dilemma of Gas Pricing: Implications for the Industry. 1030 IST. New Delhi.

DATA ALERT

* JAPAN ALL INDUSTRY INDEX for Feb. 1000 IST

* UK MONTHLY RETAIL SALES FIGURES for Mar. 1400 IST

* US ANNUAL ADVANCE GDP BY INDUSTRY.  1800 IST

* US FLASH SERVICES PMI FOR MAR. 1830 IST

* US SURVEY OF CONSUMERS FOR APR. 1925 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.

* GILT AUCTIONS: RBI to auction 40 bln rupees of 7.80%, 2020 gilt, 70 bln rupees of 8.83%, 2023 gilt, 20 bln rupees of 8.32%, 2032 gilt, and 30 bln rupees of 8.30%, 2042 gilt.

MARKETS

Call  : To open around RBI's repo rate as banks will borrow to cover weekend reserve needs. 3-day call: 8.25-9.25% vs 7.25-7.50% 2-day Wed.

Bonds : Seen weak ahead of gilt auction as dealers may stay on sidelines. 10-year bond yield: 8.82-8.90% vs 8.85% Wed.

Rupee : Seen moving with a downward bias on dollar demand from importers. Weekly US data; local shares eyed. Range:  60.80-61.30/$1 Fri vs 61.08/$1 Wed.

Stocks: May open lower amid weak cues from Asian markets. Nifty range 6780-6870;  Wednesday-end 6840.80, up 25.45 points.

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Apr 23 - Morning brief for the stock market.

RBI COUNTER

DAILY LAF TENDERS: One set of 2-day reverse repo (at 6.75%) and 2-day repo (at 7.75%). 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 90 bln rupees of 91-day T-bills, and 60 bln rupees of 182-day T-bills.

+ 91-DAY: Yield seen at 8.81-8.85% vs 8.85% a week ago.

+ 182-DAY: Yield seen at 8.80-8.90% vs 8.97% a fortnight ago.

NIFTY

  + CAIRN INDIA (consol net profit seen 29.19 bln rupee +14% YoY, +1% QoQ)

  + ULTRATECH CEMENT (net profit seen 6.01 bln rupees, (-)17% YoY)

F&O

+ L&T FINANCE HOLDINGS

+ M&M FINANCIAL SERVICES

+ YES BANK (net profit seen 4.08 bln rupee +13% YoY, (-)2% QoQ)

+ HSBC China flash Apr Purchasing Managers' Index at 48.3 vs 48.0 in Mar (var)

CONFERENCES

FIPB MEET: Foreign Investment Promotion Board to consider foreign investment  proposals. 1600 IST, New Delhi.

MARKETS

Call  : To open above RBI's repo rate on banks' demand to cover two-day reserve needs. Two day call 8.25-9.00% vs 1-day 8.05-8.15% Tue.

Bonds : Prices seen opening firm as sentiment may stay positive due to recent fall in yields. 10-yr yld: 8.83-8.88% vs 8.85% Tue.

Rupee : May open steady to tad lower on month-end dollar demand from importers. To track local share indices. Range: 60.60-61.20/$1 vs 60.76/$1 Tue.

Stocks: May rise on short covering due to April F&O expiry. Nifty range 6780-6850; Tuesday-end 6815.35, down 2.30 points.

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What's Happening, and Where, on Apr 22

DATA ALERT

*JAPAN INDEXES OF BUSINESS CONDITIONS in Feb. 1030 IST

*UK CAPITAL ISSUANCE in Mar. 1400 IST

EU CONSTRUCTION OUTPUT in Feb. 1430 IST

*US ICSC-GOLDMAN SACHS CHAIN STORE SALES for week to Apr 19. 1715 IST

*CANADA WHOLESALE TRADE for Feb. 1800 IST

*US JOHNSON REDBOOK RETAIL SALES for week to Apr 19. 1825 IST

*US MONTHLY HOUSE PRICE for Feb. 1830 IST

*US EXISTING HOME SALES for Mar. 1930 IST

*US RICHMOND FED BUSINESS ACTIVITY SURVEY for Apr. 1930 IST

RBI COUNTER

* DAILY LAF TENDERS: One set of 1-day reverse repo (at 6.75%) and 1-day repo (at 7.75%). 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 eleven states--Andhra Pradesh, Arunachal Pradesh, Goa, Jammu & Kashmir, Kerala, Maharashtra, Mizoram, Rajasthan, Tamil Nadu, Uttar Pradesh, and West Bengal--worth 84.16 bln rupees.

MARKETS

Call  : To open above RBI's repo rate on banks' demand to cover reserve needs. 1 day call 8.00-9.25% vs 9.10-9.20% Mon.

Bonds : Seen steady to tad higher on improved market sentiment. 10-year bond yield: 8.83-9.00% vs 8.86% Mon.

Rupee : Seen opening down. Global cues, local share indices eyed. Exporters' dlr sales may support intraday. Range: 60.35-60.80/$1 vs 60.59/$1 Mon.

Stocks: Seen trading with a positive bias. Jan-Mar earnings eyed. Nifty range 6770-6850; Monday-end 6817.65, up 38.25 points.

MARKET MOVERS

Shasun Pharmaceuticals: Shares in Shasun Pharmaceuticals was locked in 20% upper circuit at Rs 105 after the company said it is planning to raise fund by issuing equity shares/warrants to promoters of the company on preferential basis.

Liberty Shoes: Shares in Liberty Shoes rallied 14.43% to Rs 187.60 after reporting an over four-fold jump in its March quarter net profit at Rs 4.27 crore, due to higher sales. The footwear maker had posted a net profit of Rs 0.97 crore in the same quarter last fiscal.

Wipro: Shares in Wipro tanked 6.65% to Rs 546.60 after company's information technology (IT) revenue guidance for the first quarter (Q1FY2015) of current fiscal was seen below estimates by some analysts.

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Monday, Apr 21 - Morning brief for the stock market.

STOCKS

* HERO MOTOCORP: Plans to set-up a full-fledged manufacturing plant each in

Colombia and Bangladesh.

* JET AIRWAYS: Has terminated services of close to 40 employees based in Delhi

across various departments.

* JSW STEEL: Has begun talks to purchase smaller rival Welspun Maxsteel for

about 10 bln rupees. (ET, Sat)

* NATCO PHARMA: The US court has denied Teva Pharmaceuticals' plea staying

Copaxone patent saying that the company can claim damages for the same.

* NTPC: Company may be allowed to divert unutilised gas to other plants.

* OIL INDIA: Has signed a pact with Ireland's PetroNeft Resources for securing

50% non-operating interest in Licence 61, Tomsk Oblast in Siberia for $85 mln.

* PRIME INDIA OPPORTUNITY: Sold 115,275 shares of R S Software (India) at

202.35 rupees.

* WIPRO: Reported consolidated net profit of 22.26 bln rupees, up 28.80% on year

in Jan-Mar. Net sales rose 21.75% on year to 117.03 bln rupees.

DATA ALERT

JAPAN STEEL PRODUCTION for Mar. 1030 IST.

JAPAN SUPERMARKET SALES for Mar. 1030 IST.

US CHICAGO FED NATIONAL ACTIVITY INDEX for Mar. 1800 IST.

US LEADING INDICATORS for Mar. 1930 IST.

CONFERENCES

* WORK SAFETY: Labour and employment secretary Gauri Kumar to attend PHD Chamber discussion on safety and security of women at workplace and construction workers. 1100 IST, New Delhi.

* MANUFACTURING MEET: Commerce Secretary Kher to be present at ASSOCHAM Industry Interactive Session on "Manufacturing Led Exports: Key for Sustainable Growth". 1600 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.

MARKETS

Call  : To open around RBI's repo rate on banks' demand to meet reserve needs early in the session. 1-day call: 8.00-9.00% vs 8.20% 2-day Thu.

Bonds : Seen steady today. May take opening cues from US Treasury yields. 10-year bond yield: 8.80-8.95% vs 8.85% Thu.

Rupee : To track global cues. Bunched-up flows may aid but oil cos' dlr demand to weigh. Range: 60.00-60.60/$1 vs 60.29/$1 Thu.

Stocks: Seen opening marginally higher amid firm global market cues. Nifty range 6750-6820; Thursday-end 6779.40, up 104.10 points.

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