INDO-OMAN MEETING

 

CONFERENCES

* INDO-OMAN: Industrial Policy and Promotion Secretary Kant and Oman Commerce &  Industry Minister Sunaidi to address India-Oman Joint Business Council. 1100 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.

* TERM REPO AUCTION: One set of 14-day variable rate term repo for 150 bln rupees. Bids for term repo tender may be submitted between 1100 and 1130 IST.

* STATE DEVELOPMENT LOAN AUCTION: RBI to hold auction of 96.50 bln rupees worth of bonds issued by 10 states--Bihar, Haryana, Karnataka, Kerala, Maharashtra, Punjab, Rajasthan, Tamil Nadu, Uttar Pradesh and West Bengal.

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RBI COUNTER

DATA ALERT

> GERMANY IFO BUSINESS CLIMATE INDEX for Oct. 1430 IST

> UK CBI MONTHLY DISTRIBUTIVE TRADES SURVEY for Oct. 1630 IST

> US FLASH SERVICES PMI for Oct. 1915 IST

> US PENDING HOME SALES INDEX for Sep. 1930 IST

> US TEXAS MANUFACTURING OUTLOOK SURVEY for Oct. 2000 IST

CONFERENCES

* E-BUSINESS: Telecom Minister Prasad to be present at United Nations Centre for Trade Facilitation and Electronic Business Forum. 1000 IST, New Delhi.

* PUBLIC AUDIT: President Mukherjee and Comptroller & Auditor General of India Sharma to be present at Comptroller & Auditor General's conference of 'Promoting Good Governance and Accountability through Public Audit.' 1150 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 for reverse repo between 1900 IST and 1930 IST.

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RBI COUNTER

RBI COUNTER

* TERM REPO: One set of 16-day variable rate term repo for 155 bln rupees. Bids for term repo tender may be submitted between 1100 and 1130 IST.

* T-BILL AUCTION: RBI to hold auctions of 90 bln rupees of 91-day T-bills, and 60 bln rupees of 182-day T-bills.

MARKETS

Call  : May open higher on likely strong demand to meet reserve needs for long weekend and festival outflows. 5-day call: 8.70-8.80% vs 8.25% Tue.

Bonds : May open on positive mood on diesel decontrol. Caution before weekend, profit sales may weigh. 10-yr bond yield: 8.35-8.40% vs 8.37% Tue.

Rupee : To track Asian units, NDF at open on Wed. Oil importers' dlr buys. May weigh. Shares eyed intraday. Range: 61.2000-61.6000/$1 vs 61.3100 Tue.

Stocks: Trade seen rangebound; cos' Jul-Sep earnings eyed. Nifty range: 7900-8020; Friday-end 7927.75, up 48.35 points.

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Foreign investment proposals

GOVT BEAT

* Foreign Investment Promotion Board to meet to consider 48 foreign investment proposals. 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 for reverse repo between 1900 IST and 1930 IST.

* TERM REPO: One set of 13-day variable rate term repo for 155 bln rupees. Bids for term repo tender may be submitted between 1100 and 1130 IST.

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India has until Oct 21 to back WTO trade agreement, says EU minister

GOVT BEAT

* Oil Minister Pradhan, Ministry of New and Renewable Energy Secretary Tripathy and Indian Sugar Mills Association Director General Verma to be present at CII's Bio Energy Summit.  1000 IST, New Delhi.

* Food Processing Industries Minister Badal and Ministry of Food Processing Industries Secretary Hussain to be present at Cold Chain Summit. 1030 IST, New Delhi.

* Meeting of the Cabinet Committee of Economic Affairs, followed by meeting of the Union Cabinet. 1740 IST, New Delhi.

DATA ALERT

> ECB GOVERNING COUNCIL MEETING. 1230 IST

> UK UNEMPLOYMENT in September. 1400 IST.

> US MORTGAGE APPLICATIONS SURVEY in week to Oct 10. 1630 IST

> US PRODUCER PRICE INDEX in September. 1800 IST.

> US MANUFACTURING SURVEY in October. 1800 IST.

> US FEDERAL RESERVE BEIGE BOOK. 2330 IST.

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DLF shares fall over 20 per cent on Sebi ban

DLF, India's largest listed property developer, saw its shares slump more than 20% in early trade after the market regulator barred the company from tapping the capital markets for three years.

The ban by the Securities and Exchange Board of India, a blow to the heavily-indebted real estate firm, follows what the regulator said was DLF's failure to provide key information on subsidiaries and pending legal cases at the time of its record-breaking 2007 initial public offering.

Reacting to the news, shares of DLF slumped 20% in morning trade before trading 18.61 lower at Rs 119.40 on the Bombay Stock Exchange at 9.46 am.

Meanwhile, the broader index Sensex was trading 11.72 points lower at 26,372.35.

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INDICATORS NSE, Sensex, Crude:

DATA ALERT
* Germany WPI for September. 1130 IST * EU long-term interest rate statistics for September. 1330 IST * China trade balance for August.

INDICATORS (previous session)
* NSE provisional net buy/(sale) in bln rupees, Oct 10: FII (7.20), DII 5.58
* Institutional net buy/(sale) in bln rupees, Oct 9: FIIs 0.15
* FII NSE futures net buy/(sale) in bln rupee, Oct 10:index (14.64), shr (1.76)
* Sensex 26297.38, down 339.90 points; Nifty 7859.95, down 100.60 points
* Crude: $84.91/bbl; Rupee: 61.33/$1; Gold: $1,233.68/ounce; 10-yr yld: 8.4558%.

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 for reverse repo between 1900 IST and 1930 IST. 

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