Current news & Rumours in the mkt
- Thread starter praveen taneja
- Start date
Important US Economic data to watch from 1/11/2010 to 5/11/2010
Sunday, October 31, 2010
TIME (ET) REPORT PERIOD
MONDAY, Nov. 1
8:30 am Personal income Sept.
8:30 am Consumer spending Sept.
8:30 am Core PCE price index Sept.
10:00 am ISM Manufacturing index Oct.
10:00 am Construction spending Sept.
Tuesday, Nov. 2
Election Day
Wednesday, Nov. 3
8:15 am ADP employment Oct.
10:00 am ISM services Oct.
10:00 am Factory orders Sept.
TBA Motor vehicle sales Oct.
10:30 am EIA Petroleum Status Report
2:15 pm FOMC Rate decision
Thursday, Nov. 4
8:30 am Jobless claims 10/30
8:30 am Productivity 3Q
10:30 am EIA Natural Gas Report
FRIDAY, Nov. 5
8:30 am Nonfarm payrolls Oct.
8:30 am Unemployment rate Oct.
8:30 am Average hourly earnings Oct.
8:30 am Average work sheet Oct.
10:00 am Pending home sales Sept.
3:00 pm Consumer credit Sept.
Sunday, October 31, 2010
TIME (ET) REPORT PERIOD
MONDAY, Nov. 1
8:30 am Personal income Sept.
8:30 am Consumer spending Sept.
8:30 am Core PCE price index Sept.
10:00 am ISM Manufacturing index Oct.
10:00 am Construction spending Sept.
Tuesday, Nov. 2
Election Day
Wednesday, Nov. 3
8:15 am ADP employment Oct.
10:00 am ISM services Oct.
10:00 am Factory orders Sept.
TBA Motor vehicle sales Oct.
10:30 am EIA Petroleum Status Report
2:15 pm FOMC Rate decision
Thursday, Nov. 4
8:30 am Jobless claims 10/30
8:30 am Productivity 3Q
10:30 am EIA Natural Gas Report
FRIDAY, Nov. 5
8:30 am Nonfarm payrolls Oct.
8:30 am Unemployment rate Oct.
8:30 am Average hourly earnings Oct.
8:30 am Average work sheet Oct.
10:00 am Pending home sales Sept.
3:00 pm Consumer credit Sept.
LISTING
CIRCULAR
Date: November 1, 2010
Download Reference No. NSE/CML/16190
Ref. No. NSE/LIST/C/2010/1049
Subject: Suspension of trading in equity shares
To All Members,
In pursuance of Regulation 3.1.2 of the National Stock Exchange (Capital Market) Trading Regulations Part A, it is hereby notified that the following security will be suspended from trading w.e.f November 10, 2010(i.e. closing hours of trading on November 9, 2010)
Sr. No.
Name of the Company
Symbol
Series
Reason for Suspension
1
Reliance Natural Resources Limited
RNRL
EQ/BL
Scheme of Arrangement with Reliance Power Limited
This Circular shall be effective from November 10, 2010.
For and on behalf of
National Stock Exchange of India Limited
CIRCULAR
Date: November 1, 2010
Download Reference No. NSE/CML/16190
Ref. No. NSE/LIST/C/2010/1049
Subject: Suspension of trading in equity shares
To All Members,
In pursuance of Regulation 3.1.2 of the National Stock Exchange (Capital Market) Trading Regulations Part A, it is hereby notified that the following security will be suspended from trading w.e.f November 10, 2010(i.e. closing hours of trading on November 9, 2010)
Sr. No.
Name of the Company
Symbol
Series
Reason for Suspension
1
Reliance Natural Resources Limited
RNRL
EQ/BL
Scheme of Arrangement with Reliance Power Limited
This Circular shall be effective from November 10, 2010.
For and on behalf of
National Stock Exchange of India Limited
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Tuesday Nov 2, 2010
RBI POLICY: Key points of second quarterly review
Reserve Bank of India Tuesday raised its overnight lending and borrowing rates by 25 basis points each to tame inflation.
Repo rate--the lending rate--has been increased to 6.25% and the reverse repo--the borrowing rate--to 5.25% with immediate effect, RBI said.
The policy review retained the cash reserve ratio at 6%. The ratio sets the share of deposits banks must keep with the central bank.
A TickerNews poll forecast of 24 economists showed that 16 respondents expected RBI to hike repo rate by 25 basis points while 17 expected reverse repo to be hiked by 25 basis points.
Following are the key points of the RBI's Second-Quarter Review of Monetary Policy for 2010-11:
MONETARY ACTION
* Repo, reverse repo rates hiked by 25 bps each
* Repo rate hiked 25 bps to 6.25% with immediate effect
* Ups reverse repo rate 25 bps to 5.25% immediate effect
* Cash reserve ratio kept unchanged at 6%
* Chances of more rate actions in "immediate future" relatively low
* Moderate rate hikes will not disrupt growth
* Rate hikes to rein in rising inflationary expectations
* Rate hikes to sustain anti-inflationary policy thrust
* Tight liquidity enabling policy moves' transmission to lending rates.
CAPITAL FLOWS
* Current account deficit of over 3% of GDP difficult to sustain
* FY11's current account deficit may surpass FY10 mark
* Huge FX flows to India expected due to interest rate differentials
* Current account deficit a worry as FX flows volatile
* Large FX inflows also challenge to monetary management
* Large FX inflows pose challenge to exchange rate
* To act, if needed, to mitigate impact of lumpy forex flows
* Global economies' easy policy to spur forex flows to emerging markets
* Extra liquidity from developed nations may flow to EMEs
* India needs capital flows to fund current account gap
* Will continue to respond to global, domestic shocks.
LIQUIDITY
* Tight liquidity consistent with anti-inflation stance
* Liquidity deficit must be contained within limits
* Excessive liquidity deficit can hurt markets, loan growth
* Liquidity may ease on govt spend in coming weeks
* RBI to act to mitigate changes in liquidity conditions.
INFLATION
* RBI says inflationary expectations remain at elevated level
* RBI keeps Mar-end inflation projection unchanged from July review
* Retains Mar-end inflation estimate 6% under old series
* Under new WPI series, RBI's Mar-end inflation estimate 5.5%
* Inflation outlook depends on movement in food prices
* Risks to inflation "largely on the upside"
* Inflationary pressures may "accentuate"
* Structural food inflation to weigh on overall inflation
* Food inflation becoming "increasingly structural"
* Short-term household inflation expectations in Sep up
* Core inflation moderating but above medium-term trend
* Demand side inflationary pressures need to be contained
* Rising global commodity prices cause for concern
* Demand pressures from capacity constraints to show up
* Global quantitative easing to add to price pressures
* Medium-term inflation target remains at 3%
* RBI aims to contain inflation in 4.0-4.5% range
* Rate hikes to rein in rising inflationary expectations
* Rate hikes to sustain anti-inflationary thrust.
MONETARY TARGETS
* RBI retains M3 growth projection for FY11 at 17%
* RBI retains FY11 non-food credit growth estimate at 20%
* Lower M3 growth due to moderation in deposit growth
* Higher currency growth also lowered M3 growth
* RBI sees signs of pick-up in FY11 deposits, credit growth
* Closely monitoring credit flow to small, medium firms.
ECONOMIC GROWTH
* India growth robust and can absorb negative global slowing impact
* FY11 GDP growth estimate retained at 8.5%
* Slow global economic recovery risk to India's growth
* Global slowdown to hurt India's exports.
PROVISIONING NORMS
* Standard asset provisioning for banks' teaser loans increased to 2%
* Loan to value ratio for home loans not to exceed 80%
* Risk weightage on home loan hiked from current 100%
* Ups home loan risk weights of Rs 7.5 mln or higher to 125%.
ASSET PRICES AND MARKETS
* Asset prices on the rise in emerging economies
* Rising asset prices a concern
* Realty prices in India's metro cities above pre-crisis peak levels
* Equity markets close to all-time peak levels
* Gold prices at record high
* Negative real interest rates lifted asset, gold prices
* Gilt yields have risen reflecting tight liquidity
* Foreign exchange market remained orderly in Oct
* Rupee remained in Rs 44.03-44.74/$1 band in Oct.
REGULATORY
--Financial Stability Reports
* To detail next report on financial stability in Dec
* Constant monitoring on financial stability risks must
* To detail financial stability reports Jun, Dec every yr
--Savings Rate Deregulation
* Draft paper on savings bank rate deregulation by Dec
--Derivative Trading
* Examining feedback on credit default swaps
* Mulling launch of interest rate futures
* To detail over-the-counter FX derivative norms by mo-end
* To release guidelines on corporate bond repos by Dec 1
--Liquidity Panel
* To detail liquidity panel report in 3 mos of first meet
--Capital Adequacy
* Mulls capital adequacy for financial conglomerates
* Doubles threshold limit for RTGS deals to Rs 200,000
--Microfinance Institutions
* To take a view on microfinance cos after Malegam report
--Foreign Banks' Operations
* Paper on foreign banks' presence under way
--Licences For New Banks
* To detail norms on fresh banking licences end-Jan.
GOVT FINANCES
* High revenue growth to help contain FY11 fiscal gap
* Govt must focus on revamping expenditure
* FY11 fiscal gap to remain within target on buoyant taxes.
NEXT POLICY REVIEWS
* To detail mid-quarter review on Dec 16
* To detail third quarter review on Jan 25.
RBI POLICY: Key points of second quarterly review
Reserve Bank of India Tuesday raised its overnight lending and borrowing rates by 25 basis points each to tame inflation.
Repo rate--the lending rate--has been increased to 6.25% and the reverse repo--the borrowing rate--to 5.25% with immediate effect, RBI said.
The policy review retained the cash reserve ratio at 6%. The ratio sets the share of deposits banks must keep with the central bank.
A TickerNews poll forecast of 24 economists showed that 16 respondents expected RBI to hike repo rate by 25 basis points while 17 expected reverse repo to be hiked by 25 basis points.
Following are the key points of the RBI's Second-Quarter Review of Monetary Policy for 2010-11:
MONETARY ACTION
* Repo, reverse repo rates hiked by 25 bps each
* Repo rate hiked 25 bps to 6.25% with immediate effect
* Ups reverse repo rate 25 bps to 5.25% immediate effect
* Cash reserve ratio kept unchanged at 6%
* Chances of more rate actions in "immediate future" relatively low
* Moderate rate hikes will not disrupt growth
* Rate hikes to rein in rising inflationary expectations
* Rate hikes to sustain anti-inflationary policy thrust
* Tight liquidity enabling policy moves' transmission to lending rates.
CAPITAL FLOWS
* Current account deficit of over 3% of GDP difficult to sustain
* FY11's current account deficit may surpass FY10 mark
* Huge FX flows to India expected due to interest rate differentials
* Current account deficit a worry as FX flows volatile
* Large FX inflows also challenge to monetary management
* Large FX inflows pose challenge to exchange rate
* To act, if needed, to mitigate impact of lumpy forex flows
* Global economies' easy policy to spur forex flows to emerging markets
* Extra liquidity from developed nations may flow to EMEs
* India needs capital flows to fund current account gap
* Will continue to respond to global, domestic shocks.
LIQUIDITY
* Tight liquidity consistent with anti-inflation stance
* Liquidity deficit must be contained within limits
* Excessive liquidity deficit can hurt markets, loan growth
* Liquidity may ease on govt spend in coming weeks
* RBI to act to mitigate changes in liquidity conditions.
INFLATION
* RBI says inflationary expectations remain at elevated level
* RBI keeps Mar-end inflation projection unchanged from July review
* Retains Mar-end inflation estimate 6% under old series
* Under new WPI series, RBI's Mar-end inflation estimate 5.5%
* Inflation outlook depends on movement in food prices
* Risks to inflation "largely on the upside"
* Inflationary pressures may "accentuate"
* Structural food inflation to weigh on overall inflation
* Food inflation becoming "increasingly structural"
* Short-term household inflation expectations in Sep up
* Core inflation moderating but above medium-term trend
* Demand side inflationary pressures need to be contained
* Rising global commodity prices cause for concern
* Demand pressures from capacity constraints to show up
* Global quantitative easing to add to price pressures
* Medium-term inflation target remains at 3%
* RBI aims to contain inflation in 4.0-4.5% range
* Rate hikes to rein in rising inflationary expectations
* Rate hikes to sustain anti-inflationary thrust.
MONETARY TARGETS
* RBI retains M3 growth projection for FY11 at 17%
* RBI retains FY11 non-food credit growth estimate at 20%
* Lower M3 growth due to moderation in deposit growth
* Higher currency growth also lowered M3 growth
* RBI sees signs of pick-up in FY11 deposits, credit growth
* Closely monitoring credit flow to small, medium firms.
ECONOMIC GROWTH
* India growth robust and can absorb negative global slowing impact
* FY11 GDP growth estimate retained at 8.5%
* Slow global economic recovery risk to India's growth
* Global slowdown to hurt India's exports.
PROVISIONING NORMS
* Standard asset provisioning for banks' teaser loans increased to 2%
* Loan to value ratio for home loans not to exceed 80%
* Risk weightage on home loan hiked from current 100%
* Ups home loan risk weights of Rs 7.5 mln or higher to 125%.
ASSET PRICES AND MARKETS
* Asset prices on the rise in emerging economies
* Rising asset prices a concern
* Realty prices in India's metro cities above pre-crisis peak levels
* Equity markets close to all-time peak levels
* Gold prices at record high
* Negative real interest rates lifted asset, gold prices
* Gilt yields have risen reflecting tight liquidity
* Foreign exchange market remained orderly in Oct
* Rupee remained in Rs 44.03-44.74/$1 band in Oct.
REGULATORY
--Financial Stability Reports
* To detail next report on financial stability in Dec
* Constant monitoring on financial stability risks must
* To detail financial stability reports Jun, Dec every yr
--Savings Rate Deregulation
* Draft paper on savings bank rate deregulation by Dec
--Derivative Trading
* Examining feedback on credit default swaps
* Mulling launch of interest rate futures
* To detail over-the-counter FX derivative norms by mo-end
* To release guidelines on corporate bond repos by Dec 1
--Liquidity Panel
* To detail liquidity panel report in 3 mos of first meet
--Capital Adequacy
* Mulls capital adequacy for financial conglomerates
* Doubles threshold limit for RTGS deals to Rs 200,000
--Microfinance Institutions
* To take a view on microfinance cos after Malegam report
--Foreign Banks' Operations
* Paper on foreign banks' presence under way
--Licences For New Banks
* To detail norms on fresh banking licences end-Jan.
GOVT FINANCES
* High revenue growth to help contain FY11 fiscal gap
* Govt must focus on revamping expenditure
* FY11 fiscal gap to remain within target on buoyant taxes.
NEXT POLICY REVIEWS
* To detail mid-quarter review on Dec 16
* To detail third quarter review on Jan 25.
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