MORNING NEWS CALL

FACTORS TO WATCH

10:30 am: Economic Affairs Secretary Subhash Chandra Garg and State Bank of India Chairman Rajnish Kumar at

FICCI-EBRD Business Forum in Mumbai.

5:00 pm: RBI to release weekly foreign exchange data in Mumbai.

LIVECHAT - QUIZ EAST

Our Friday quiz focuses on Asia and the week's top news at 1100 IST. Test your wits and googling speed. To join the

conversation, click here.

INDIA TOP NEWS

Thyssenkrupp workers, some investors give CEO time for Tata Steel deal

Thyssenkrupp workers and a group representing some of the steelmaker's investors offered its chief executive more

time to finalise a planned joint venture deal with Tata Steel on Thursday.

India, top buyer of U.S. almonds, hits back with higher duties

India, the world's biggest buyer of U.S. almonds, raised import duties on the commodity by 20 percent, a government

order said, joining the European Union and China in retaliating against President Donald Trump's tariff hikes on steel

and aluminium.

EXCLUSIVE-JSW Steel plans bid for ArcelorMittal's Romanian plant

India's biggest steelmaker JSW Steel is expected to make a bid for ArcelorMittal's Galati plant in Romania, three

sources told Reuters, potentially competing against Ukraine's Metinvest and Italy's Marcegaglia.

Bank of Maharashtra sanctioned loans to defaulting firm-document

The chief executive of state-run Bank of Maharashtra sanctioned a 100 million rupee loan to a real estate firm which had

defaulted on payments to investors, according to a court document on the latest probe into loan fraud at Indian banks.

Shares in PNB fall after internal probe finds widespread lapses

Shares in India's Punjab National Bank fell as much as 3 percent on Thursday, a day after Reuters reported the bank's

internal investigation into its $2 billion fraud had found widespread risk-control and monitoring lapses in many areas of

the bank.

SEBI to act against entities in NSE probe over servers

India's market regulator said on Thursday it will initiate action against entities and individuals following an investigation at

the National Stock Exchange (NSE) into whether high frequency traders were getting unfair access to some network

servers at the exchange.

Swiggy raises additional $210 mln funding led by Naspers, DST Global

Online food delivery service provider Swiggy said on Thursday it raised another $210 million in its biggest ever funding,

led by South African internet and entertainment group Naspers and Hong Kong-based internet investment group DST

Global.

Rat breaches bank ATM in India, eats $18,000 worth of cash

When bank technicians in India were finally summoned to investigate why an ATM (automated teller machine) had not

been working for days, they began to smell a rat.

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GLOBAL TOP STORIES

Low inflation: Japan's May data shows BOJ stimulus barely moving price dial

Japan's core inflation remained subdued in May, yet again highlighting how far off the central bank is in hitting its 2

percent price goal despite over five years of massive stimulus.

German carmakers join American farmers on front line of U.S.-China trade war

An increasingly shrill exchange of words between the United States and China that is threatening to trigger a global

trade war has claimed another victim - Germany's auto sector.

U.S. military may house immigrant children as Trump policy beset by confusion

The U.S. military has been asked to get ready to house up to 20,000 immigrant children, officials said on Thursday, as

President Donald Trump's efforts to roll back a widely condemned policy of separating children from their parents were

beset by confusion.

STATE OF THE MARKETS

The SGX Nifty nearest-month futures were trading down 0.2 percent at 10,710. -NewsRise

The Indian rupee is expected to open higher against the dollar as fall in Treasury yields and tepid economic data led to

broad-based weakness in the U.S. currency. -NewsRise

Indian government bonds will likely edge lower in early trade tracking gains in crude oil prices ahead of a key meeting

of the Organization of the Petroleum Exporting Countries. The yield on the benchmark 7.17 percent bond maturing in

2028 is likely to trade in a 7.76 percent - 7.83 percent band today. -NewsRise

U.S. stocks fell on Thursday, with the Dow slumping for an eighth straight decline as industrials wobbled again on trade

war concerns while Amazon and other online retailers weakened after a U.S. Supreme Court ruling on state sales tax

collection.

Asian shares were under pressure on signs U.S. trade battles with China and many other countries are starting to chip

away at corporate profits, with oil prices choppy ahead of major producers meeting to discuss raising output.

The dollar fell from an 11-month peak against a basket of major currencies as investors took profits, while sterling

rebounded from a seven-month low after a slightly hawkish tilt from the Bank of England surprised the market.

U.S. Treasury yields fell on Thursday on worries about a continuing U.S. trade battle with China that prompted German

carmaker Daimler to cut its 2018 profit forecast, and as U.S. data fell below expectations.

Oil prices rose by more than 1 percent, pushed up by uncertainty over whether OPEC would manage to agree a

production increase at a meeting in Vienna later in the day.

Gold prices inched up after hitting a 6-month low the session before, with the dollar retreating from an 11-month peak.

CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 68.16/68.19 June 21 $165.88 mln -$134.39 mln

10-yr bond yield 8.02 pct Month-to-date -$901.77 mln -$1.32 bln

Year-to-date -$1.15 bln -$5.54 bln

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PICTURE OF THE DAY

Prime Minister Narendra Modi performs yoga on International Yoga Day in Dehradun, in the northern Himalayan state of Uttarakhand, June 21. REUTERS/Stringer