South Korea’s won rose to the strongest level in almost six years

1) The yen dropped against higher-yielding counterparts after Japan had a smaller current-account surplus than economists predicted and record-low foreign-exchange volatility curbed demand for haven assets.

2) South Korea’s won rose to the strongest level in almost six years as stimulus by the European Central Bank and better-than-expected U.S employment data supported demand for riskier assets.

3) Argentina’s efforts to stabilize the peso are being undercut by the 100,000 soccer fans Brazil is expecting to travel across the border to see the national team led by Lionel Messi try to win a third World Cup title.

Debt Market Key Headlines

1) India will likely raise the foreign investment limit in government debt soon, as almost all the allocation has already been taken up as overseas buyers pile into the country's financial markets, said four officials with direct knowledge of the government's thinking. The current cap is 995.46 billion rupees ($16.86 billion).

2) Foreign investors have poured in a staggering Rs. 19,772 crore ($3.35 billion) into the Indian debt market in May - the highest monthly inflow in about two and a half years.

Read detail analysis report here: - http://www.rrfinance.com/Reserch/ResearchHome.aspx

ICICI Bank overtakes HDFC Bank as top private bank employer

The 50-share Nifty index is expected to open higher on Monday following positive trend seen in other Asian markets. Tracking the momentum, the index is expected to surpass its earlier record high of 7,592 recorded last week on Friday. Stocks In news are Maruti Suzuki, IDBI Bank, NDMC, Bombay Dyeing, Coal India, Hindustan Zinc, Nectar Life sciences, Divi’s Laboratories, GAIL and Hindustan Motors. 

Today’s Headlines

1) Dynaflex, largest packing material supplier to e-commerce firms, eyes Rs. 78,000 crore packaging industry.
2) Auto firms like M&M, Tata Motors, Maruti, Hyundai, Renault and Nissan to spend Rs 10,000 crore on new models, facelifts.
3) ICICI Bank overtakes HDFC Bank as top private bank employer.
4) Dalmia Continental puts its 2 olive oil brands on sale.
5) China way ahead of India in renewable energy space.

Read detail analysis report here:- http://www.rrfinance.com/reserch/MorningBell/Eq_MorningBell.pdf

India’s rupee erased gains on speculation..

1) ECB President Mario Draghi reduced the deposit rate to minus 0.10 percent from zero, making the institution the world’s first major central bank to use a negative rate. Policy makers also lowered the benchmark rate to 0.15 percent from 0.25 percent.

2) The euro has weakened 3.1 percent since touching a 2 1/2-year high on May 8 before Draghi sent it tumbling by saying that the Governing Council would be “comfortable” to act in June.

3) India’s rupee erased gains on speculation the central bank intervened to rein in an advance that’s made the currency the best performing in Asia this year after Pakistan’s rupee. 

Debt Market Key Headlines

1) The finance ministry is reportedly examining mergers of the country's state-run banks to create stronger financial institutions. True, Indian banks do not have large enough balance sheets to meet the needs of large rapidly globalizing companies. Small public sector banks could gain economies of scale by merging

2) Also, the global financial crisis in the aftermath of the collapse of Lehman Bros has shown that no country needs a bank that is too big to fail. Small banks, theoretically, do not pose systemic risks and can be allowed to sink.

Read detail analysis report here: -  http://www.rrfinance.com/Reserch/ResearchHome.aspx

Reliance, Essar cut crude imports from Middle East!

The 50-share Nifty index is expected to open flat on Thursday following muted trend seen in other Asian markets. Tracking the momentum, the index may retest its crucial psychological support level of 7,400 in trade today. Stocks in news are Trend, JSW Steel, IGL, IDFC, Reliance Capital, KSK Energy, Reliance Industries, JSPL, NMDC and Anjani Portland.

Today’s Headlines

1) Maruti Suzuki delegation meets Gujarat Chief Minister Anandiben Patel.
2) Manipal group scion Ranjan Pai and former Infosys director Mohandas Pai to launch new funds worth $200 million.
3) Reliance, Essar cut crude imports from Middle East.
4) Tata Housing to spend Rs 3,000 cr to buy land across major cities.
5) NMDC ups iron ore prices after Odisha mine closures

Read detail analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Eq_MorningBell.pdf

India’s central bank signaled it would ease monetary policy if inflation..

Currency Market Today’s Headlines

1) India’s central bank signaled it would ease monetary policy if inflation slows faster than anticipated as it left interest rates unchanged for a second straight meeting. Stocks rose to a record high.

2) The pound rose against the dollar as a report showed U.K. house prices climbed to a record in May amid an economic recovery that sent the British currency to an almost five-year high last month.




 

3) India’s benchmark stock index rose to a record after the RBI’s rate decision and the yield on the 10-year government bond fell to 8.61 percent from 8.66 percent yesterday.

Read detail currency report here: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf

Anil Dua quits Hero MotoCorp; to pursue career abroad

The Nifty is likely to open on a positive note and extend overnight gains on the back of positive cue from Asian peers. Rate sensitives will be in focus ahead of the Reserve Bank of India's policy review. According to ET Now poll, the central bank is likely to keep key interest rates unchanged.

Today’s Headlines

1. Anil Dua quits Hero MotoCorp; to pursue career abroad.
2. Better sentiment, new models boost auto sales; Maruti Suzuki, Hyundai, Honda, Toyota and Ford see rise.
3. PE firm SAIF Partners to make 8 new investments across sectors.
4. Blazing heat brings relief to AC, fridge and consumer durable sales.
5. Lakshmi Machine Works eyes new export markets to dodge domestic competition. 

Read detail analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Eq_MorningBell.pdf

IDFC to shave off infrastructure loans to meet RBI norms

The Nifty is likely to open on a flat note in absence of supportive cues from Asian peers. The trade is likely to turn choppy as the session progresses and rate sensitives will be in action ahead of RBI policy for direction. Stocks in news are L&T, Infosys, Aurobindo, Financial Tech, AstraZeneca Pharma, MTNL, Bayer Crop, PIpavav Defence and SAIL.

 Today’s Headlines
1) Volkswagen studying possibility of introducing a budget brand for Indian market.
2) Hero MotoCorp sales up by 8 per cent in May.
3) IDFC to shave off infrastructure loans to meet RBI norms.
4) Reliance Industries Ltd rejigs investment portfolio; focus on bonds, deposits.
5) Power deficit doubles in May to 7,000 MW; 20K MW of new thermal capacity still lying idle.
6) Kamdhenu Ispat expects 20% revenue growth this fiscal.

Read detail analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Eq_MorningBell.pdf