Dow Briefly Turns Positive After Initial Sell Off; HP Surges 14%
Infosys Ltd
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We have a stacked day of earnings coming up on Thursday with Nokia, Google, IBM and Microsoft all reporting.
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*India's main share index gains 1.41 percent, while the broader NSE index is up 1.37 percent, trading above the 6,000 level for the first time since Feb. 4. *Mortgage lender Housing Development Finance Corp Ltd. gains 2.3 percent, while State Bank of India Ltd.
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India's benchmark 10- year bond yield down 2 basis points at 7.71 percent on lower crude prices and as the government cut withholding tax to 5 percent from 20 percent on foreign investments in government debt. India's benchmark five-year swap rate down 3 bps at 6.87 percent and the one-year swap rate 1 bp lower at 7.19 percent.
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NEW DELHI, May 2- India's diversified stock mutual funds outperformed the broader market marginally in April, with high exposure to financial services stocks supporting unit values, data from fund tracker Lipper showed.
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India's benchmark 10- year bond yield down 4 basis points at 7.69 percent on lower crude and as the government cut withholding tax to 5 percent from 20 percent on foreign investor investments in government debt. India's benchmark five-year swap rate down 4 bps at 6.86 percent and the one-year swap rate 2 bps lower at 7.18 percent.
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*Infosys ltd: susquehanna raises to neutral from negative. *Infosys ltd: susquehanna raises price target to $40 from $38. For a summary of rating and price target changes on U.S. companies: Reuters Eikon users, click on RCH/US Reuters 3000 Xtra users, double-click RCH/US Reuters Station users, click. 1568.
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India's benchmark 10- year bond yield down 3 basis points at 7.73 percent as the government cut withholding tax to 5 percent from 20 percent on foreign investor investments in government debt and rupee denominated corporate debt for a two-year period.
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India's benchmark 10- year bond yield down 1 basis point at 7.75 percent on buying as government cuts withholding tax to 5 percent from 20 percent on foreign investor investments in government debt and rupee denominated corporate debt. India's benchmark five-year swap rate down 1 bps at 6.92 percent and the one-year swap rate lower 1 bp at 7.20 percent.
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The BSE index up 0.77 percent and the broader 50- share NSE index 0.59 percent higher, led by gains in fast moving consumer goods stocks after Unilever's offer to raise its stake in India's Hindustan Unilever to up to 75 percent in a deal valued around $5.4 billion.
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----------PREVIOUS ITEMS Qatar Airways, Air Arabia may invest in India- Times of India---------- Air India plans more direct flights to fight competition- Mint---------- Etihad offers $300 mln cheap loan to Jet Airways- Economic Times----------.
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*India to release infrastructure output data for March. *India to likely release the fiscal deficit data for April-March. *Bharti Infratel Ltd, the telecommunications tower unit of top Indian mobile phone carrier Bharti Airtel Ltd.
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India's benchmark 10- year bond yield up 2 basis points at 7.76 percent, as dealers kept positions light on caution ahead of the central bank's rate decision on Friday and on resumption of supply. India's benchmark five-year swap rate down 2 bps at 6.93 percent and the one-year swap rate unchanged at 7.21 percent.
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MUMBAI, April 29- Indian shares closed near their highest level in a month on Monday led by gains in the country's largest consumer goods maker Hindustan Unilever Ltd. The Reserve Bank of India's annual monetary policy review on Friday, where it is widely expected to cut rates by 25 basis points, will be crucial for shares this week, along with earnings of IDFC Ltd.
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India's benchmark 10- year bond yield up 1 basis point at 7.75 percent. India's benchmark five-year swap rate down 1 bp at 6.94 percent and the one-year swap rate down 2 bps at 7.19 percent. India's cash rate at unchanged from its Friday close of 7.50/ 7.60 percent.
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India's benchmark 10- year bond yield down 1 basis point at 7.73 percent as dealers continue to build long positions ahead of the central bank's rate meeting on May 3. India's benchmark five-year swap rate and the one-year rate unchanged at 6.95 percent and 7.21 percent, respectively. India's cash rate at unchanged from its Friday's close of 7.50/ 7.60 percent.
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India's benchmark 10- year bond yield down 3 basis points at 7.74 percent, recording a fifth weekly fall, as a string of positive macroeconomic data and a respite in global commodity prices in recent weeks are seen offering elbow-room to the central bank to respond to growth concerns.
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*ICICI Bank meets Q4 forecast with 21 pct gain in net profit. MUMBAI, April 26- Indian shares fell on Friday, snapping a four-day winning streak, led by declines in lenders such as ICICI Bank on profit-taking, after recent steep gains on rate-cut hopes were seen as overdone ahead of the central bank's annual policy review next week.
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India's benchmark 10- year bond yield down 1 basis point at 7.76 percent, on some bargain buying after the sell-off on Thursday with good demand seen from foreign investors and state-run banks. India's benchmark five-year swap rate down 1 bp at 6.96 percent and the one-year rate unchanged at 7.22 percent.
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GLOBAL MARKETS ROUNDUP* Nifty futures on the Singapore Exchange is 0.08 percent up while the MSCI-Asia Pacific index excluding Japan. FACTORS TO WATCH* Earnings of Maruti Suzuki India Ltd, Hero MotoCorp Ltd, ICICI Bank Ltd later in the day. *The India Meteorological Department releases maiden forecast for the four-month long monsoon season from June.
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India's benchmark 10- year bond yield up 4 basis points at 7.77 percent, triggered by a rebound in global commodity prices. India's benchmark five-year swap rate ended 3 bps up at 6.97 percent and the one-year rate unchanged at 7.22 percent. India's cash rate at 7.60/ 7.70 percent versus its close of 7.70/ 7.80 percent on Tuesday.
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*Jet Airways shares gain 10.8 pct after deal with Etihad. MUMBAI, April 25- Indian shares rose for a fourth straight day on Thursday, closing at their highest level in more than a month as expectations of a rate cut at the central bank's upcoming annual monetary policy review continued to keep sentiment bullish.