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FACTORS TO WATCH
9:45 am: SEBI Chairman U.K. Sinha at event organised by Association of
Investment Bankers of India in Mumbai.
11:00 am: Winter session of parliament continues in New Delhi.
3:00 pm: NITI Aayog Chief Executive Amitabh Kant briefs media on digital
payments in New Delhi.
5:45 pm: NITI Aayog Chief Executive Amitabh Kant at CII India Health summit
in New Delhi.
LIVECHAT - POST-FED ASIA OUTLOOK with Jim Walker, Founder and MD, Asianomics
Jim joins us as the Fed concludes its last policy meeting of 2016. He will
give us his views at 9:30 am on what's in store from central banks in 2017, and
whether interest in commodities, risk assets and currencies could sustain. To
join the conversation, click on the link: here
INDIA TOP NEWS
S&P says India's demonetisation hurts confidence in RBI
India's surprise move to abolish high-value rupee notes has undermined the
central bank's reputation for competence and independence, even as it remains a
credible institution, Standard & Poor's director Kyran Curry said on Wednesday.
India's demonetisation drive drags down Nepal's economy
India's scrapping of high-value bank notes last month has dragged down
economic growth in neighbouring Nepal with trade, remittances and tourist
numbers all down, BMI Research, a group company of the Fitch rating agency, said
Tata Motors director alleges governance lapses by parent Tata Sons
An independent director of Tata Motors has alleged governance lapses by the
automaker's parent, Tata Sons, and said it wrongly influenced directors,
stirring up a public power struggle at India's biggest conglomerate.
India's diesel demand boosts rare imports of the fuel
A rise in diesel demand is boosting India's rare imports of the industrial
and transport fuel, helping to mop up some of the excess supply of the fuel in
Asia, traders said on Wednesday.
Wholesale prices up 3.15 pct y/y in Nov
Wholesale prices rose 3.15 percent year-on-year in November, its slowest
pace in five months, government data showed on Wednesday.
NSE chairman says bourse to file for IPO by Dec. 20 - TV
National Stock Exchange (NSE) Chairman Ashok Chawla said on Wednesday that
the bourse operator plans to file a so-called draft red herring prospectus
(DRHP) with regulator by Dec. 20 for its long-awaited initial public offering.
GLOBAL TOP NEWS
Fed lifts rates, sees faster pace of hikes in Trump's first year
The U.S. Federal Reserve raised interest rates on Wednesday and signaled a
faster pace of increases in 2017 as central bankers adapted to the incoming
Trump administration's promises of tax cuts, spending and deregulation.
Rebel officials say Aleppo evacuation plan back on track
Syrian opposition groups said an evacuation of rebel-held areas of Aleppo was
back on track and expected to begin early, but uncertainty persisted as a media
outlet run by Lebanon's Hezbollah said truce talks faced "big complications".
Yahoo says 1 billion accounts exposed in newly discovered security breach
Yahoo Inc warned on Wednesday that it had uncovered yet another massive cyber
attack, saying data from more than 1 billion user accounts was compromised in
August 2013, making it the largest breach in history.
LOCAL MARKETS OUTLOOK
(As reported by NewsRise)
The SGX Nifty Futures was trading at 8,132.50, down 0.60 pct from its
The Indian rupee will likely open lower against the dollar, tracking its
Asian peers, as the Federal Reserve's widely expected rate increase and
indication of a faster-than-anticipated pace of tightening next year fuelled
concerns about foreign fund outflows.
Indian government bonds will likely take a tumble, as the U.S. Federal
Reserve increased the policy interest rate and hinted at faster-than-anticipated
rate hikes in 2017, which may trigger capital outflows. The yield on the
benchmark 6.97 pct bond maturing in 2026 is likely to trade in a 6.41 pct-6.50
U.S. stocks fell the most in two months on Wednesday after the Federal
Reserve raised interest rates by a quarter point and signaled hikes could come
next year at a faster pace than some expected.
Asian shares and currencies struggled after the Federal Reserve raised
rates for the first time in a year and hinted at the risk of a faster pace of
tightening than investors were positioned for.
The dollar hovered near a 14-year peak against a basket of major
currencies, receiving a major boost after the Federal Reserve increased the
number of projected interest rate hikes for 2017.
Shorter-dated U.S. Treasury yields surged on Wednesday, with those on
two-year notes climbing to their highest in more than seven years after the
Federal Reserve raised interest rates for the first time in a year and flagged
more rate increases in 2017.
Oil prices dropped as a hike in U.S. interest rates drove money away from
commodities and into U.S. bonds and the dollar, but a tighter fuel market looms
in 2017 due to planned production cuts led by OPEC and Russia.
Gold prices fell to a new low in more than 10 months as the dollar surged
after the U.S. central bank raised interest rates for the first time in a year
and signalled further rate hikes for 2017.
CLOSE FII INVESTMENTS EQUITIES DEBT
PNDF spot 67.82/67.85 December 14 -$93.70 mln $2.37 mln
10-yr bond yield 6.62 pct Month-to-date $15.89 mln -$2.40 bln
Year-to-date $4.17 bln -$5.55 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 = 67.43 Indian rupees)
(Compiled by Astha Rawat in Bengaluru)