Morning News Call - India, February 17

Last Updated: Fri, Feb 17, 2017 09:00 hrs

To access the newsletter, click on the link: If you would like to receive this newsletter via email, please register at: FACTORS TO WATCH 9:00 am: SEBI Chairman U.K. Sinha to speak at an event in Mumbai. 9:45 am: Finance Minister Arun Jaitley at foundation day event of Security Printing Minting Corp. of India in New Delhi. 11:00 am: Railway Minister Suresh Prabhu, Environment Minister Anil Dave at flagging off ceremony of Science Express Climate Action Special in New Delhi. 3:20 pm: HDFC Bank Managing Director Aditya Puri, Mahindra & Mahindra Executive Chairman Anand Mahindra to speak at Nasscom event in Mumbai. 3:45 pm: Power Minister Piyush Goyal, NITI Aayog Chief Executive Amitabh Kant at conference on NexGen Technologies for Mining and Fuel Industries in New Delhi. 5:00 pm: RBI to release weekly foreign exchange data in Mumbai. LIVECHAT: WORLD ECONOMIC FORUM World Economic Forum head of education, gender and work, Saadia Zahidi discusses at 2:30 how we can future proof our workforce against the oncoming ravages of the fourth industrial revolution. To join the conversation, click on the link: INDIA TOP NEWS • EXCLUSIVE-India may cut potash subsidy in potential blow to demand An Indian government ministry has proposed slashing potash subsidies by 17 percent in the next financial year to reduce the fiscal deficit, officials said, a move that would hit demand in one of the world's largest importers of the fertiliser. • ANALYSIS-Under enigmatic Patel, Indians failing to read central bank policy Under governor Urjit Patel, the RBI has significantly reduced communication with markets after he took over in September, an analysis of his public comments shows. • Tata Motors, Microsoft ink technology collaboration deal Tata Motors Ltd and Microsoft India on Thursday announced a strategic collaboration on the technology front to make driving a more personalised experiences for the customers, the companies said in a joint statement. • Tata Steel says has work to do to progress Thyssenkrupp merger Tata Steel still has work to do before it can make progress on European steel merger talks with Thyssenkrupp, its Europe chief said on Thursday. GLOBAL TOP NEWS • Samsung chief Lee arrested as S.Korean corruption probe deepens Samsung Group chief Jay Y. Lee was arrested over his alleged role in a corruption scandal rocking the highest levels of power in South Korea, dealing a fresh blow to the world's biggest maker of smartphones and memory chips. • Trump says he will unveil overhauled immigration order next week U.S. President Donald Trump said on Thursday he will issue a new executive order to replace his controversial directive suspending travel to the United States by citizens of seven mostly Muslim countries. • Singapore economy picks up speed in Q4, but Trump threat looms large Singapore's economy grew at a faster pace in the final 3 months of last year than initially thought, revised data showed, but the city state faces fresh challenges amid rising concerns of trade protectionism under U.S. President Donald Trump. LOCAL MARKETS OUTLOOK (As reported by NewsRise) • The SGX Nifty Futures were at 8,830.00, up 0.48 pct from its previous close. • The Indian rupee is poised to open little changed against the dollar, as profit booking in risk assets amid a lack of fresh triggers will likely offset the impact of broad weakness in the greenback. The rupee closed lower at 67.07 to the dollar yesterday. • Indian sovereign bonds will likely advance tracking sharp overnight gains in U.S. Treasury prices. The yield on the benchmark 6.97 pct bond maturing in 2026 is likely to trade in a 6.82 pct-6.88 pct band today. The paper had closed at 100.88 rupees, yielding 6.84 pct, yesterday. GLOBAL MARKETS • The Dow Jones Industrial Average scored its sixth straight record high on Thursday, but just barely, while the S&P 500 edged lower due to declining energy stocks. • Asian stock markets took a breather from their recent surge as investors took profits, while the dollar inched up after Thursday's slide and optimism over possible renewed supply cuts by OPEC lifted oil prices. • U.S. Treasury prices gained on Thursday as weaker stock markets and a falling U.S. dollar increased demand for safe haven bonds, and after comments from a senior Federal Reserve official late on Wednesday were viewed as relatively dovish. • Gold held firm as the dollar hovered near one-week lows, putting the precious metal on track for a third week of gains amid political uncertainties in the U.S. and Europe. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 67.16/67.19 February 16 -$32.21 mln - $11.93 mln 10-yr bond yield 7.18 pct Month-to-date $408.99 mln $1.06 bln Year-to-date $402.60 mln $947.18 mln 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 = 67.07 Indian rupees) (Erum Khaled in Bengaluru)

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