MORNING NEWS CALL FACTORS TO WATCH 9:30 am: NITI Aayog member V.K. Saraswat at India Minerals and Metals Forum in New Delhi. 10:30 am: Bank of Maharashtra annual meeting in Pune. LIVECHAT - OIL FOCUS Henning Gloystein , Reuters Asia deputy editor for commodities, joins us ahead of the crucial OPEC meeting on June 22 to discuss what could be expected in terms of output increases at 0930 IST. To join the conversation, click here . LIVECHAT - U.S.- CHINA TRADE WORRIES World markets were spooked on Tuesday as U.S. President Donald Trump threatened to levy further tariffs on Chinese goods. What exactly is Trump aiming for and is that achievable without any large-scale blowback? Andrew Polk, co- founder at Trivium China, former China director for Medley global advisors and a resident economist at the Conference board, will answer these questions and more on trade and tariffs at 1200 IST. To join the conversation, click here. LIVECHAT - EUROPE MARKETS AND TRADE FEARS While trade tariff talks have US and China as the main players, the European economy is the lead actor. In general, European companies are far more exposed to the global economy than U.S. companies, making them more vulnerable to countries slapping higher tariffs on goods. Alastair Winter, chief economist at Daniel Stewart & Company talks about it at 1300 IST. To join the conversation, click here. TRADING INDIA FORUM - FORENSIC ACCOUNTING Co-founder of 2Point2 Capital Amit Mantri's blog on Manpasand a couple of years ago came back to haunt the stock. With the auditors resigning, the stock fell 65 percent. We speak to Amit at 1100 IST on the topic of forensic accounting and how analysts fail to see the larger picture or worse, ask the right questions. To join the conversation, click here. INDIA TOP NEWS Air India stake sale plan shelved, alternatives being worked on - government India has shelved a plan to sell a 76 percent stake in state-owned carrier Air India due to lack of interest from bidders, a government official said on Wednesday, marking the latest setback in its ambitious efforts to rescue the ailing airline. India ships more cotton to China as 25 percent tax spoils U.S. supply India's cotton shipments to China could grow five-fold to 850,000 tonnes in the next crop year as exporters rack up orders amid a trade war that is forcing the world's top consumer to look for other sources of supply. Energy guzzler India urges OPEC to tackle high oil prices India, the world's third-biggest oil consumer and importer, on Wednesday urged OPEC nations to fill a supply gap and ensure sustainable oil prices as politics affect the output of some producers. Police arrest CEO, director of state-run Bank of Maharashtra over loans Police arrested the chief executive and an executive director of state-run Bank of Maharashtra on Wednesday, accusing them of misusing their authority in making loans to a property developer. Chief Economic Adviser Arvind Subramanian latest high profile hire to quit government India's chief economic adviser Arvind Subramanian said on Wednesday he was quitting his post to return to academic
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MORNING NEWS CALL
FACTORS TO WATCH
9:30 am: NITI Aayog member V.K. Saraswat at India Minerals and Metals Forum in New Delhi.
10:30 am: Bank of Maharashtra annual meeting in Pune.
LIVECHAT - OIL FOCUS
Henning Gloystein , Reuters Asia deputy editor for commodities, joins us ahead of the crucial OPEC meeting on June
22 to discuss what could be expected in terms of output increases at 0930 IST. To join the conversation, click here .
LIVECHAT - U.S.- CHINA TRADE WORRIES
World markets were spooked on Tuesday as U.S. President Donald Trump threatened to levy further tariffs on Chinese
goods. What exactly is Trump aiming for and is that achievable without any large-scale blowback? Andrew Polk, co-
founder at Trivium China, former China director for Medley global advisors and a resident economist at the Conference
board, will answer these questions and more on trade and tariffs at 1200 IST. To join the conversation, click here.
LIVECHAT - EUROPE MARKETS AND TRADE FEARS
While trade tariff talks have US and China as the main players, the European economy is the lead actor. In general,
European companies are far more exposed to the global economy than U.S. companies, making them more vulnerable
to countries slapping higher tariffs on goods. Alastair Winter, chief economist at Daniel Stewart & Company talks about
it at 1300 IST. To join the conversation, click here.
TRADING INDIA FORUM - FORENSIC ACCOUNTING
Co-founder of 2Point2 Capital Amit Mantri's blog on Manpasand a couple of years ago came back to haunt the stock.
With the auditors resigning, the stock fell 65 percent. We speak to Amit at 1100 IST on the topic of forensic accounting
and how analysts fail to see the larger picture or worse, ask the right questions. To join the conversation, click here.
INDIA TOP NEWS
Air India stake sale plan shelved, alternatives being worked on - government
India has shelved a plan to sell a 76 percent stake in state-owned carrier Air India due to lack of interest from bidders, a
government official said on Wednesday, marking the latest setback in its ambitious efforts to rescue the ailing airline.
India ships more cotton to China as 25 percent tax spoils U.S. supply
India's cotton shipments to China could grow five-fold to 850,000 tonnes in the next crop year as exporters rack up
orders amid a trade war that is forcing the world's top consumer to look for other sources of supply.
Energy guzzler India urges OPEC to tackle high oil prices
India, the world's third-biggest oil consumer and importer, on Wednesday urged OPEC nations to fill a supply gap and
ensure sustainable oil prices as politics affect the output of some producers.
Police arrest CEO, director of state-run Bank of Maharashtra over loans
Police arrested the chief executive and an executive director of state-run Bank of Maharashtra on Wednesday, accusing
them of misusing their authority in making loans to a property developer.
Chief Economic Adviser Arvind Subramanian latest high profile hire to quit government
India's chief economic adviser Arvind Subramanian said on Wednesday he was quitting his post to return to academic
The dollar hovered near an 11-month high against a basket of currencies, supported by a rise in U.S. yields, while the
pound struggled at its lowest level since November 2017 ahead of Bank of England's monetary policy decision.
U.S. Treasury yields rebounded from sharp falls in the previous session, as expectations of further U.S. interest rate
increases diverted the market's attention from Washington's trade conflict with China.
Oil prices fell as Iran signalled it could be won over to a small rise in OPEC crude output, potentially paving the way for
the producer cartel to agree a supply increase during a meeting on Friday.
Gold prices edged up, but hovered close to a six-month low touched in the previous session as a firm U.S. dollar curbed
gains.
CLOSE FII INVESTMENTS EQUITIES DEBT
PNDF spot 68.11/68.14 June 20 -$359 mln -$236.98 mln
10-yr bond yield 8.07 pct Month-to-date -$553.12 mln -$1.18 bln
Year-to-date -$797.77 mln -$5.41 bln
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PICTURE OF THE DAY
Women shout pro-freedom slogans as they watch the body of Adil Ahmad, a suspected militant who according to local media was killed in a gunbattle with Indian security forces on Tuesday, during his funeral at Midoora village in south Kashmir’s Pulwama district, June 20. REUTERS/Danish Ismail