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Morning News Call - India, January 18
January 18, 2017 / 3:17 AM / in 10 months

Morning News Call - India, January 18

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    FACTORS TO WATCH
    10:35 am: Federal cabinet likely to meet in New Delhi.
    
    LIVECHAT-REVIEWING POLICY FRAMEWORKS
    Paul Sheard, chief economist at S&P, talks at 05:30 pm about the global
economic outlook, impact of Brexit and shares his view on rethinking policy
frameworks. To join the conversation, click on the link: here
    
    LIVECHAT-INVESTMENT OPPORTUNITIES
    Scott Minerd, Global Chief Investment Officer at Guggenheim Partners shares
his views at 06:30 pm on investment opportunities in 2017. To join the
conversation, click on the link: here
    
    
    INDIA TOP NEWS
     Modi urges Chinese restraint as Trump handover nears
    Growing military ambitions in the Asia-Pacific are creating security risks,
Indian Prime Minister Narendra Modi said on Tuesday in a coded message to China
to exercise strategic restraint. 
     Government seeks up to $2.2 bln dividend from Hindustan Zinc - sources
    India is seeking a dividend of up to $2.2 billion from partly state-owned
Hindustan Zinc Ltd, three people with knowledge of the matter said, as New Delhi
targets a boom in the base metal to help shore up crumbling public finances.
 
     Indian online healthcare platform Practo raises $55 mln in fresh funding
    Indian online healthcare platform Practo said on Tuesday it had raised $55
million from new and existing investors in a fresh round of funding led by
China's Tencent Holdings. 
    
    
    GLOBAL TOP NEWS
     Britain to leave EU market as May sets "hard Brexit" course
    Britain will quit the EU single market when it leaves the European Union,
Prime Minister Theresa May said on Tuesday in a decisive speech that set a
course for a clean break with the world's largest trading bloc. 
     Samsung chief questioned behind closed doors in arrest warrant hearing
    A South Korean judge questioned Samsung Group leader Jay Y. Lee behind
closed doors to decide whether he should be arrested over his alleged role in a
corruption scandal that led parliament to impeach President Park Geun-hye.
 
     In Davos, Xi makes case for Chinese leadership role
    Chinese President Xi Jinping offered a vigorous defence of globalisation on
Tuesday, pushing back against the "America First" rhetoric of incoming U.S.
president Donald Trump and signalling Beijing's desire to play a bigger role on
the global stage. 
    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
     The SGX Nifty Futures was trading at 8,418.50, trading up 0.1 pct from its
previous close.
     The Indian rupee will likely open little changed to slightly higher
against the dollar after a rebound in the British pound and U.S. President-elect
Donald Trump's comments about the dollar's strength pushed the greenback to
six-week lows.
     Indian government bonds are poised to open higher, tracking a similar
movement in U.S. Treasuries after comments from American President-elect Donald
Trump and British Prime Minister Theresa May spurred demand for debt. The yield
on the benchmark 6.97 pct bond maturing in 2026 is likely to trade in a 6.38
pct-6.44 pct band today. The bond had closed at 103.90 rupees, yielding 6.42 pct
yesterday.
    
    
    GLOBAL MARKETS
     U.S. stocks fell on Tuesday, with financials, transports and other big
post-election gainers losing ground as earnings season kicked into gear. 
     The British pound consolidated gains after posting its biggest rise in
nearly two decades in the previous session, while Asian stocks are set to drift
lower following a weak Wall Street. 
     The dollar index wallowed near six-week lows, pressured by U.S.
President-elect Donald Trump's comments showing concern over the currency's
strength, while sterling edged down after posting its biggest one-day gain since
at least 1998 after British Prime Minister Theresa May outlined her 'Brexit'
plans. 
     U.S. Treasury prices gained on Tuesday on concerns about protectionist
trade policies by U.S. President-elect Donald Trump, which hurt the U.S. dollar
and increased demand for U.S. bonds. 
     Oil prices edged higher with a weaker dollar underpinning the market,
although gains were limited by expectations that U.S. producers would boost
output. 
     Gold prices held near eight-week highs hit in the previous session on
uncertainty over U.S. president-elect Donald Trump's economic plans, after the
dollar slid on his comments that the strong greenback was "killing us". 
    
    
                   CLOSE        FII INVESTMENTS  EQUITIES    DEBT
 PNDF spot         67.89/67.92  January 17       $20.90 mln  $117.59 mln
 10-yr bond yield  6.67 pct     Month-to-date    -           -$194.59 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= 67.95 Indian rupees)

 (Compiled by Sourav Bose in Bengaluru)

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