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FACTORS TO WATCH
9:30 am: State Bank of India Chairman Arundhati Bhattacharya at an industry
event in Mumbai.
9:30 am: Railway Minister Suresh Prabhu at conference on strengthening
railway transport connectivity in South and South-West Asia in New Delhi.
10:00 am: PFRDA Chairman Hemant Contractor at an event in New Delhi.
10:30 am: Food Minister Ram Vilas Paswan at an event in New Delhi.
10:45 am: Farm Minister Radha Mohan Singh at an event New Delhi.
11:00 am: Budget session of parliament continues in New Delhi.
11:00 am: SEBI Whole Time Member G. Mahalingam at an event in Mumbai.
12:00 pm: NSDL MD & CEO at HDFC Bank event to launch online initiative in
12:00 pm: Transport Minister Nitin Gadkari to attend an event in New Delhi.
12:00 pm: Shankara Building Products IPO briefing in Mumbai.
4:30 pm: Junior Civil Aviation Minister Jayant Sinha at SpiceJet event in
Take a look at the FX charts with Reuters technical analyst Martin Miller at
4.30 pm. To join the conversation, click on the link: here
INDIA TOP NEWS
• Rising food prices push up Indian Feb retail inflation
Indian retail price inflation picked up in February, after having cooled the
previous month to its lowest in at least five years, supporting the view that
the Reserve Bank of India no longer has room to ease monetary policy.
• India's core inflation eases to 4.83 pct in Feb y/y
India's annual core consumer price inflation was seen at around 4.83 percent
in February, easing from 5.08-5.10 percent in January, according to a snap poll
of two analysts by Reuters on Tuesday.
• Sun Pharma says U.S. FDA to lift ban on Mohali plant exports
India's largest drugmaker Sun Pharmaceutical Industries said U.S. regulators
plan to lift a ban on its Mohali plant in northern India, paving the way for a
resumption of exports to the company's biggest market after four years.
• India has no plans to cut sugar import tax for now -minister
India has no plans to cut the sugar import tax for now, the food minister
said on Tuesday, citing ample domestic stocks and criticising the Indian Sugar
Mills Association for projecting output forecasts below the government estimate.
• Motor racing-Perez in the pink as Force India change livery
Force India's Formula One cars will sport a new pink livery this season
after the team signed a sponsorship deal with Austrian water technology company
GLOBAL TOP NEWS
• Trump paid $38 mln in taxes in 2005 -White House
U.S. President Donald Trump paid $38 million in taxes on more than $150
million in income in 2005, the White House said on Tuesday, responding to an
MSNBC report that the network had obtained two pages of the returns.
• Dutch poll test of anti-immigrant feeling, Turkish dispute
The Dutch go to the polls on Wednesday in an election seen as a test of
anti-immigrant and nationalist feeling magnified by a deepening dispute with
• South Korean prosecutors summon ousted leader Park over scandal
South Korean prosecutors summoned ousted leader Park Geun-hye for
questioning next week about a corruption scandal that led to her dismissal as
president, the prosecutors' office said.
LOCAL MARKETS OUTLOOK
(As reported by NewsRise)
• The SGX Nifty Futures were trading at 9,117.00, trading up 0.2 pct from
its previous close.
• The Indian rupee is poised to open little changed to slightly higher
against the dollar, as investors will likely remain on the sidelines ahead of
the U.S. Federal Reserve’s interest rate decision today.
• Indian government bonds will likely fall in early trade after inflation
accelerated in February, damping hopes of a rate cut in Asia’s third-largest
economy, even as the U.S. Federal Reserve is widely expected to tighten interest
rates later today. The yield on the benchmark 6.97 pct bond maturing in 2026 is
likely to trade in a 6.88 pct-6.93 pct band today. The bond had closed at 100.48
rupees, yielding 6.90 pct, yesterday.
• U.S. stocks fell on Tuesday as oil prices dropped to their lowest since
November and airlines pulled industrial stocks down as a blizzard hit the U.S.
• Asian stocks slipped as investors took profits before a U.S. central bank
policy meeting that could signal how much monetary tightening to expect during
the remainder of the year, with an immediate rate hike fully priced in by
• The dollar was on tenterhooks in Asian trading as investors waited
anxiously to see what clues the U.S. Federal Reserve would soon reveal on its
monetary policy outlook.
• U.S. long-dated and benchmark Treasury yields edged lower on Tuesday after
a drop in oil prices was viewed as a deflationary sign, but the drop in yields
was limited as investors awaited the Federal Reserve's policy statement on
• U.S. oil prices rose more than 2 percent in early Asian trade, recovering
from a three-month low after industry data showed a surprise drawdown in U.S.
crude stockpiles and Goldman Sachs put a positive spin on OPEC's compliance with
• Gold prices held steady ahead of the outcome of a two-day Federal Reserve
meeting, with the U.S. central bank widely expected to raise interest rates.
CLOSE FII INVESTMENTS EQUITIES DEBT
PNDF spot 66.77/66.80 March 14 $621.65 mln -$10.79 mln
10-yr bond yield 7.31 pct Month-to-date $1.34 bln $68.18 mln
Year-to-date $2.90 bln $1.38 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 = 65.82 Indian rupees)
(Compiled by Erum Khaled in Bengaluru)