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Morning News Call - India, January 4
January 4, 2017 / 3:49 AM / 9 months ago

Morning News Call - India, January 4

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    FACTORS TO WATCH
    11:00 am: Power Minister Piyush Goyal to sign pact with Assam and Telangana
for joining UDAY scheme in New Delhi.
    
    LIVECHAT-TRADING INDIA FORUM- India Equity Outlook - 2017 with Gaurav Dua
    With an extremely volatile but flat year behind us, what does 2017 hold? Do
we have good trades based on Demonetization or GST? Which are the most promising
sectors? We speak to Gaurav who heads reaserach at Sharekhan at 11:00 am. To
join the conversation, click on the link: here
    
    LIVECHAT-CHINA OUTLOOK with Pete Sweeney, Asia Editor, Reuters Breakingviews
    There is increasing talk that PBOC may devalue its currency even before
markets take the onshore yuan over the 7/dollar psychological mark. But will
that be an open invitation to U.S. President-elect Donald Trump to label China a
"currency manipulator"? Pete will share his outlook and expectations from the
Chinese economy and markets in 2017 at 12:30 pm. To join the conversation, click
on the link: here
    
    
    INDIA TOP NEWS
     India's BSE exchange gets market regulator's clearance for IPO
    BSE Ltd, India's second-biggest stock exchange, got clearance for its
long-awaited initial public offering (IPO) from the Securities and Exchange
Board of India (SEBI), according to the regulator's website. 
     Bharti Airtel offers free data, deepening price war with rivals
Bharti Airtel Ltd, India's top wireless carrier, said on Tuesday it would offer
free data to woo new and existing 4G customers, intensifying a price war in the
sector and sending share prices tumbling. 
     India's steel ministry seeks lower import taxes on key raw materials 
India's steel ministry wants lower import taxes on a number of key steelmaking
raw materials, including nickel, to protect the domestic industry from the
rising costs of basic resources, a senior government official said on
Tuesday. 
     Police in India's tech hub urged to investigate New Year attacks on women 
Reports of sexual assaults on women revelers at New Year's Eve celebrations in
India's southern information technology hub of Bengaluru have spurred women's
rights activists to demand that police investigate. 
     India to present 2017/18 federal budget on Feb 1 - govt official
The Indian government will present on Feb. 1 its budget for the 2017/18
financial year starting on April 1, a senior government official said on
Tuesday. 
     India sugar mills shut early as drought hits cane crop - trade body 
More than two dozen mills in India's top sugar producing western state of
Maharashtra have stopped crushing due to cane shortage while many more mills are
likely to shut before February end, a producers' body said on
Tuesday. 
    
    
    GLOBAL TOP NEWS
     Japan December manufacturing activity expands at fastest pace in a year-
PMI
    Japanese manufacturing activity expanded at the fastest pace in a year in
December as orders picked up, a private survey showed, in an encouraging sign
that the struggling economy may be regaining momentum. 
     Wall Street lawyer Jay Clayton emerges as Trump's top SEC choice
    Wall Street lawyer Jay Clayton, who has worked on high-profile initial
public offerings such as Alibaba Group, is a leading candidate to head the U.S.
Securities and Exchange Commission in the Trump administration, two sources
familiar with the matter said on Tuesday. 
     Toshiba hit by fresh profit padding allegations
    Toshiba Corp shares fell more than five percent in early trade after media
reported the security watchdog suspects the Japanese conglomerate of
misreporting profits by 40 billion yen over three years. 
    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
     The SGX Nifty Futures was trading at 8,201.00, up 0.2 pct from its
previous close.
     The Indian rupee is poised to open little changed against the dollar, but
will likely weaken later today as upbeat U.S. factory activity numbers propelled
the dollar index to 14-year highs overnight. 
     Indian sovereign bonds will likely edge higher in opening trade on value
buying after yesterday's fall and as investors expect a rate cut in coming days
amid truncated debt supply. The yield on the benchmark 6.97 pct bond maturing in
2026 is likely to trade in a 6.40 pct-6.46pct band today, a dealer with a
state-run bank said. The bond had closed at 103.76 rupees yielding 6.44 pct
yesterday. 
    
    
    GLOBAL MARKETS
     The U.S. dollar crept nearer to 14-year peaks as an abundance of upbeat
global economic data boosted Wall Street and signs of quickening inflation
dented fixed-income debt. 
     Japan's Nikkei share average started the first trading day of 2017 on a
positive note as investors took heart from upbeat global economic data which
came out during Japan's holidays. A weaker yen boosted exporters. 
     U.S. stocks rose sharply on Tuesday as a post-election rally extended into
the new year, helped by gains in Verizon Communications and technology companies
Alphabet and Facebook. 
     Oil edged higher, with top exporter Saudi Arabia expected to raise prices
for its crude as part of planned supply cuts, although a strong dollar and
moderate economic growth prospects restricted gains. 
     Gold prices eased after hitting a three-week high in the previous session,
with the U.S. dollar hovering near 14-year peaks against a basket of major
currencies. 
    
                   CLOSE        FII INVESTMENTS  EQUITIES     DEBT
 PNDF spot         68.32/68.35  January 3        -$73.26 mln  $95.42 mln
 10-yr bond yield  6.63 pct     Month-to-date    -            $84.13 mln
                                Year-to-date     -            -
 
    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 = 68.33 Indian rupees)

 (Compiled by Shradha Singh in Bengaluru)
 )

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