To access a PDF version of this newsletter, please click here here If you would like to receive this newsletter via email, please register at: here FACTORS TO WATCH 6:00 pm: Kotak Mahindra Bank’s earnings conference call in Mumbai. LIVECHAT – LIVE FROM DAVOS Moderated by experienced Reuters journalists, join us in the Global Markets Forum as we bring you to the heart of the Davos debate and on-location coverage of one of the biggest global events of the year. Sadiq Gillani, Lecturer, Stanford Graduate School of Business joins the Global Markets Forum at 6:00 pm IST; Barbara Ann Bernard, Chief Investment Officer, Wincrest Capital at 7.30 pm IST; Zhu Min, Chairman, National Institute of Financial Research, Tsinghua University at 8.30 pm IST. To join the conversation, click on the link: refini.tv/2P8N0Wp INDIA TOP NEWS • HDFC Bank Q3 net up 33% on loan growth, beats estimates HDFC Bank Ltd, India's largest private lender, on Saturday posted a nearly 33% jump in standalone net profit for the quarter to December helped by growth in its loans portfolio. • India says no meeting with Malaysia in Davos as palm row simmers India's trade minister will not meet with his Malaysian counterpart in Davos next week because of his tight schedule, an Indian trade ministry official said on Sunday, as a spat simmers between the top buyer of palm oil and its biggest supplier. • Amazon promises 1 million new jobs in India amid tensions with government Amazon.com said on Friday it planned to create 1 million jobs in India by 2025, a day after the country's trade minister said the e-commerce giant's recently unveiled $1 billion investment in the country was no big favour. • Indian court rejects plea for relief on $13 billion telco levy; Vodafone tumbles Shares of Vodafone Idea fell as much as 40% on Friday, losing $975 million in market value, after India's top court rejected mobile carriers' petitions for a review of its order to pay billions of dollars in levies to the government. • Billionaire Ambani's Reliance posts 13.5% rise in profit Indian oil-to-telecoms conglomerate Reliance Industries Ltd posted another record quarterly profit on Friday, as double-digit growth at its consumer-facing businesses cushioned weakness in its energy divisions. • Piramal Enterprises unit to divest healthcare analytics business for $950 million • Indian conglomerate Piramal Enterprises Ltd said on Friday its Dutch unit had signed a deal to divest healthcare analytics business Decision Resources Group to U.S.-based Clarivate Analytics plc for $950 million. • China's Great Wall agrees to buy General Motors' India plant -sources Great Wall Motor has agreed to buy General Motors car plant in India, the companies said on Friday, as the Chinese automaker expands overseas amid slowing domestic demand. GLOBAL TOP NEWS • Foreign powers back Libya ceasefire as commander's forces choke oil flows Foreign powers agreed at a summit in Berlin on Sunday to shore up a shaky truce in Libya, but the meeting was overshadowed by blockades of oilfields by forces loyal to commander Khalifa Haftar that could cripple the country's crude production. • Trump promises farmers that China trade deal to be good for them President Donald Trump sought on Sunday to assure American farmers and ranchers hit by a protracted tariff war with China that a trade agreement he signed with Beijing will lead to major purchases of U.S. agricultural products. • China confirms spread of coronavirus as new cases surge An outbreak of a new coronavirus in China has spread to more cities, Chinese authorities said, as the number of patients tripled and a third person died, stoking concerns about the containment of the virus. LOCAL MARKETS OUTLOOK (As reported by NewsRise) • SGX Nifty nearest-month futures 0.1% higher at 12,396.50. • The Indian rupee is expected to open little changed against the dollar amid rangebound regional currencies. Investor focus will be on Brent crude, which was headed for the biggest daily advance in two weeks, and local equities. • Indian federal government bonds will likely edge lower as investors eye a fresh supply of long-term notes at a switch auction today. The yield on the benchmark 6.45% bond maturing in 2029 is likely to trade in a range of 6.61%-6.67% today. GLOBAL MARKETS • Wall Street climbed to record highs on Friday, with major indexes turning in their strongest weekly gains since August, after strong U.S. housing data and signs of resilience in the Chinese economy raised hopes of a rebound in global growth. • Asian shares neared a 20-month top as Wall Street extended its run of record peaks on solid U.S. economic data and lashes of liquidity from the Federal Reserve. • The dollar began the week on a firm note as economic data pointed to strength right across the U.S. economy, reducing the likelihood of interest rate cuts. • U.S. Treasury yields rose on Friday after strong homebuilding and manufacturing reports and upbeat corporate earnings, while traders eyed the potential impact of a new government bond coming by summer. • Oil prices jumped after two large crude production bases in Libya began shutting down amid a military blockade, setting the stage for crude flows from the OPEC member to be cut to a trickle. • Gold traded in a tight range as strong U.S. economic data fuelled investors' appetite for riskier assets and dented the metal's safe-haven appeal. CLOSE FII EQUITIES DEBT INVESTMENTS PNDF spot 71.05/71.08 January 17 9,731.96 213.48 crore crore 10-yr bond 6.62 pct Month-to-date 10,200 (8,658) yield crore crore (FII investment numbers are in Indian rupees. Source: National Securities Depository Limited) 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 = 71.07 Indian rupees) (Compiled by Pooja Kesavan in Bengaluru)
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