What's Happening, and Where, on Jun 18

INDICATORS (previous session)
* NSE provisional net buy/(sale) in bln rupees, Jun 17: FII 0.48, DII (2.37)
* Institutional net buy/(sale) in bln rupees, Jun 16: FIIs (1.43), MF (0.62)
* FII NSE futures net buy/(sale) in bln rupee, Jun 17: index (1.89), shr (12.3)
* Sensex 25521.19, up 330.71 points; Nifty 7631.70, up 98.15 points
* Crude: $106.36/bbl; Rupee: 60.03/$1; Gold: $1,271.70/ounce; 10-yr yld: 8.5978%

OUTLOOK
* May open flat amid weak cues from most Asian markets. Caution is likely ahead of outcome of US Federal Open Market Committee's monetary policy meeting.

GLOBAL STOCK MARKETS
* US indices ended up for the third consecutive session on Tuesday due to rise in financial and technology stocks, but gains were limited as geopolitical tensions in oil-rich Iraq showed no signs of abating.
* Asian: Most Asian indices were weak, with investors awaiting outcome of US Federal Open Market Committee's monetary policy meeting, due later today.

DATA ALERT
From OVERSEAS
> BANK OF ENGLAND MONETARY POLICY COMMITTEE Meeting Minutes for Jun. 1400 IST
> EUROZONE CONSTRUCTION OUTPUT DATA for April. 1430 IST
> US MBA WEEKLY MORTGAGE APPLICATIONS SURVEY. 1630 IST
> US EIA WEEKLY PETROLEUM STATUS REPORT. 2000 IST
> US INTEREST RATE DECISION, followed by Janet Yellen press briefing. 2330 IST
> US FEDERAL RESERVE economic projections; 2330 IST .

CONFERENCES
* INVESTMENT MEET: Cabinet Secretariat and Head of Project Monitoring Group's Additional Secretary Swarup to address FICCI's session on 'Optimising Project Clearance Framework for Stimulating Investments. 1130 IST, New Delhi.
* REALTY SUMMIT: Google India Industry Director Bawankule to address a media Roundtable to release a study on real estate sector in India and the influence of internet. 1500 IST, New Delhi.

RBI COUNTER
* DAILY LAF TENDERS: One set of 1-day reverse repo (at 7.00%) and 1-day repo (at 8.00%). Bids for repo tender may be submitted between 0930 IST and 1030 IST, and reverse repo between 1900 IST and 1930 IST.
* T-BILL AUCTIONS: RBI to hold auctions of 80 bln rupees of 91-day T-bills, and 60 bln rupees of 182-day T-bills.
+ 91-DAY: Yield seen at 8.52-8.56% vs 8.56% a week ago.
+ 182-DAY: Yield seen at 8.58-8.63% vs 8.59% a fortnight ago.
+ TERM REPO TENDER: One set of 2-day variable rate term repo for 100 bln rupees. Bids for term repo tender may be submitted between 1100 and 1130 IST.

MARKETS
Call  : May open firm on likely strong demand from banks to cover reserve needs. Seen easing intraday. 1-day call: 8.10% vs 7.90-8.20% Tue.

Bonds : Seen steady at open. To track global cues, oil prices. May take cues from rupee movement intraday. 10-yr yld: 8.56-8.62% vs 8.60% Tuesday.

Rupee : To track global cues. Caution likely ahead of FOMC meet outcome. Range: 59.80-60.20/$1 vs 60.03/$1 Tuesday.

Stocks: Seen up on positive cues from most overseas markets. Nifty range 7580-7680; Tuesday-end 7631.70, up 98.15 points.

MEDIA PICKS
* Amit Shah all set to be BJP chief, party debates timing (HT)
* BJP readies to form govt in Delhi ahead of budget (HT)
* UP: Akhilesh sacks minister, reshuffles portfolios (var)
* Uttar Pradesh Governor Joshi resigns, more on the way out (PTI)
* Uttarakhand Governor Quereshi given extra charge of Uttar Pradesh (Cogencis)
* Delhi constable's family to get 10-mln-rupee assistance (PTI)
* Munde death: CBI inspects crime scene (PTI)
* JK assembly polls: PDP releases first list of candidates (PTI)
* Schoolteacher 'murdered' in Debra, body hung from tree (ToI)
View more