To access the newsletter, click on the link: http://share.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN_09252017.pdf If you would like to receive this newsletter via email, please register at: https://forms.thomsonreuters.com/india-morning/ FACTORS TO WATCH 9:15 am: Capacit’e Infraprojects lists on stock exchanges in Mumbai. 10:00 am: Prataap Snacks IPO subscription continues in Mumbai. 11:00 am: Mahanagar Gas annual general meeting in Mumbai. 2:00 pm: Government to release first advance production estimates of major food grains in New Delhi. LIVECHAT - NEW ZEALAND ELECTION With expectations of the election ending up with a coalition government, attention turns to who would be the kingmaker and how would that shift the country's politics. Nick Tuffley from ASB Bank will discuss the election result from an economist's perspective at 9:00 am IST. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS • SBI Life's $1.3 billion IPO, India's biggest in 7 years, draws strong demand SBI Life Insurance Co Ltd's initial public offering to raise 84 billion rupees, India's biggest IPO in seven years, was subscribed more than 3.5 times on the closing day, strengthening the outlook for share sales in what is expected to be a record year. • Thyssenkrupp to set up working group with unions over Tata Steel merger Thyssenkrupp AG is to set up a joint working group of board members and labour representatives to help implement the plan to merge with Tata Steel, it said in a statement published on Sunday after a supervisory board meeting. • Amazon affiliate to buy $27.6 million stake in retailer Shoppers Stop An affiliate of Amazon.com Inc has agreed to buy a 1.79 billion-rupee stake in Indian retailer Shoppers Stop Ltd, the Indian company said in a filing. • India's drug prices regulator calls for better oversight of private hospitals India's drug pricing authority called for better regulation of the country's massive private healthcare industry on Friday to ensure government efforts to cut prices benefit patients. • Arun Jaitley pledges to find resources to support debt-laden banks India will make efforts to find resources to support debt-laden banks to help them fund economic growth, Finance Minister Arun Jaitley told a meeting of bankers on Friday. • India eases foreign investment rules for corporate debt The Reserve Bank of India on Friday eased rules governing foreign investment in corporate bonds by excluding rupee-denominated securities from its overall debt limit. • Steel ministry criticises SAIL as shortage hits railway upgrade The Indian government has criticised state-run Steel Authority of India for its failure to supply rails to Indian Railways, according to a letter seen by Reuters. GLOBAL TOP NEWS • Merkel hangs on to power but bleeds support to surging far right German Chancellor Angela Merkel won a fourth term in office on Sunday but Europe's most powerful leader will have to govern with a far less stable coalition in a fractured parliament after her conservatives haemorrhaged support to a surging far right. • Japan's Abe expected to announce snap poll amid worries over North Korea crisis Japanese Prime Minister Shinzo Abe is expected today to announce a snap election for next month to take advantage of improved ratings and opposition disarray, despite criticism that he is creating a political vacuum amid worries over North Korea. • Trump slaps travel restrictions on North Korea, Venezuela in expanded ban U.S. President Donald Trump on Sunday slapped new travel restrictions on citizens from North Korea, Venezuela and Chad, expanding the list of countries covered by his original travel bans that have been derided by critics and challenged in court. LOCAL MARKETS OUTLOOK (As reported by NewsRise) • The SGX Nifty Futures were trading at 9,980.00, trading flat 0.04 percent from its previous close. • Indian government bonds are likely to edge lower in early session ahead of a heavy supply of notes this week. Geopolitical concerns surrounding North Korea would also damp demand for emerging market assets, traders said. The yield on the benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 6.65 percent-6.70 percent band. • The Indian rupee will likely open lower against the dollar, tracking mixed cues from the regional markets after German Chancellor Angela Merkel won a fourth term, but will have to govern a less stable coalition. GLOBAL MARKETS • The S&P 500 closed slightly higher on Friday even though Apple was a drag, as worries about Washington's latest healthcare legislation proposal eased and investors shrugged off concerns about North Korea. • The euro slipped after German Chancellor Angela Merkel won a fourth term in a weekend election, but faced leading a much less stable coalition in a fractured parliament as support for the far-right party surged. • U.S. Treasury prices gained on Friday on global concerns about North Korea after it said it might test a hydrogen bomb over the Pacific Ocean, and as investors closed positions before the weekend. • Oil prices stood little changed, keeping most of their gains from the previous session to hold near their highest levels in months, as major producers meeting in Vienna said the market was well on its way towards rebalancing. • Gold prices eased, after registering a second consecutive weekly fall last week, as the U.S. dollar firmed and as the euro edged lower on political uncertainty in Germany. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 64.85/64.88 September 22 -$191.70 mln -$46 mln 10-yr bond yield 6.95 pct Month-to-date -$924.20 mln $509.25 mln Year-to-date $6.08 bln $23.65 bln For additional data: India govt bond market volumes Stock market reports Non-deliverable forwards data Corporate debt stories [IN CORPD] Local market closing/intraday levels [IN SNAPSHOT] Monthly inflows [INFLOWS RTRS TABLE IN] ($1 = 64.7900 Indian rupees) (Samrhitha Arunasalam)