Morning News Call – India, December 6

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To access a PDF version of this newsletter, please click here https://share.refinitiv.com/assets/newsletters/Indiamorning/MNC_IN_12062021.pdf If you would like to receive this newsletter by email, please subscribe to: https: // solutions.refinitiv.com/MNCIndiaSubscriptionpage FACTORS TO WATCH OUT FOR • Prime Minister Narendra Modi and Russian President Vladimir Putin at the annual India-Russia summit in New Delhi. • Three-day Monetary Policy Committee meeting on interest rate setting begins in Mumbai. • The Bombay High Court Division Bench to hear advocacy from Zee Entertainment Enterprises’ activist funds calling for an extraordinary general meeting of shareholders in Mumbai. • 10:10 am: IRDAI non-life member TL Alamelu, president of PFRDA Supratim Bandyopadhyay, deputy secretary – Department of financial services – Saurabh Mishra at the top of insurance and pensions of CII. • 12 noon: CE Info Systems (MapmyIndia) virtual IPO press point. • 12:45 pm: Press conference for the IPO of Shriram Properties in Mumbai. • 5:00 pm: closing of the subscription to the IPO of Anand Rathi Wealth in Mumbai. LIVECHAT-REUTERS GLOBAL MARKETS FORUM PROMOTION Reuters FX Buzz Analyst Jeremy Boulton examines the weekly outlook for G7 currencies and selected emerging market currency pairs. To join the conversation at 5:30 p.m. IST, click here https://www.refinitiv.com/en/products/refinitiv-messenger/global-markets-forum INDIA TOP NEWS • India targets additional spending of 39.87 billion dollars for pandemic relief On Friday, the Indian government sought parliamentary approval for a net additional spending of $ 39.87 billion in the current fiscal year ending March 2022, which would include spending for free food grains and rural jobs for pandemic relief. • India’s service activity grew strongly in November; price pressures intensify Activity in India’s dominant service sector continued to grow at a sustained pace last month, supported by a strong recovery in domestic demand, according to a private survey, but pressures elevated on prices remained a major concern. • ANALYSIS – The reversal of Modi’s agricultural reform to deter investment in Indian agriculture • India detects seven more cases of Omicron, making 12 in India’s overall count of reported cases of the highly variant mutated Omicron coronavirus rose to 12 on Sunday after Maharashtra state said it had detected seven new cases. • Indian vendors threaten to disrupt supply to protest Reliance household goods vendors India have threatened to disrupt supply to mom-and-pop stores if consumer companies provide products at lower prices to Reliance Industries, according to a letter seen by Reuters. • Indian insurer Star Health cuts IPO size after lukewarm subscription India’s largest private health insurer, Star Health, to cut offer-to-sell portion of its IPO after offer received a lukewarm response during its subscription period ending Thursday, a source said. • India revokes patent for Lay’s potatoes from PepsiCo India revoked a patent for a variety of potato grown exclusively for popular Lay’s potato chips from PepsiCo, according to an order issued by the Protection Authority on Friday Plant Varieties and Farmers’ Rights (PPVFR). • Musk’s starlink to apply for a license in India by the end of January Starlink, the satellite internet arm of billionaire Elon Musk’s rocket company SpaceX, will apply for a commercial license in India early next year to provide top services. debit and others, his country head said on Friday. . TOP GLOBAL NEWS • Omicron variant found in nearly one-third of US states The Omicron variant of the coronavirus has spread to about one-third of US states, but the Delta version remains the majority of COVID-19 infections as cases are increasing nationally, United States health officials said Sunday. • China Evergrande shares hit their lowest level in 11 years after the company said it could not guarantee repayments. authorities to convene its president. • Saudi Arabia raises the price of Arab Lt crude in January to Asia to nearly two years higher in the Middle East spot market last month. LOCAL MARKET OUTLOOK (as reported by NewsRise) • Nearest month SGX Nifty futures were flat at 17,236. dollar on bets that weak US jobs data is unlikely to impact the Federal Reserve’s thinking about accelerating the cut. • Indian sovereign bond yields are likely to trade virtually unchanged early in the session as investor sentiment remains cautious ahead of the Monetary Policy Committee’s decision on rates on Wednesday. The yield on the 6.10% benchmark bond due 2031 could trade today in the range 6.34% to 6.40%. GLOBAL MARKETS • Major Wall Street indices closed lower on Friday, with the Nasdaq leading the declines, investors betting a strong jobs report would not slow the withdrawal of Federal Reserve support while grappling with the uncertainty surrounding the variant of the Omicron coronavirus. • Asian equity markets have not rebounded on US and European futures, while bonds have given up some of their recent gains. • Riskier currencies struggled to gain a foothold against the dollar, supported by uncertainty around the Omicron variant and the expectation of warmer US inflation data to put upward pressure on interest rates. • US Treasury yields fell in choppy trading on Friday, with the 10-year yield falling below 1.4% for the first time since September as a sense of risk aversion took hold in the markets, bringing down Wall Street. • Oil prices rose by more than $ 1 a barrel after Saudi Arabia raised the prices of its crude sold to Asia and the United States and indirect talks between the United States and the United States. Iran on relaunching a nuclear deal appeared to be at an impasse. • Gold prices remained stable as market participants assessed the prospect of an earlier end to pandemic asset purchases by the US Federal Reserve after data suggested the labor market tightened quickly. CLOSE FII INVESTMENTS SHARES DEBT PNDF spot 75.01 / 75.04 December 3 (301.53) crore 669.29 crore 10-year bond yield 6.369% Monthly cumulative (8,300) crore 504 crore Year-to-date 36,478 crore 1,944 crore (FII investment figures are in Indian Rupees. Source: National Securities Depository Limited) For Additional Data: Indian Government Bond Market Volumes Stock Market Reports Undeliverable Futures Data Corporate Debt Stories [IN CORPD] Local market closure / intraday levels [IN SNAPSHOT] Monthly collections [INFLOWS RTRS TABLE IN] ($ 1 = 75.22 Indian rupees) (Compiled by Nidhi C Sai in Bangalore)


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