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Morning News Call - India, January 30

    Jan 30 (Reuters) - To access a PDF version of this newsletter, please click
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    FACTORS TO WATCH
    10:00 am: NITI Aayog CEO Amitabh Kant will be present at the World
Sustainable Development Summit in New Delhi.
    11:30 am: Leaders of all political parties will have a meeting ahead of
Budget Session of Parliament in New Delhi.
    
    LIVECHAT- BONDS FOCUS
Dhara Ranasinghe, Reuters senior European government bonds correspondent, joins
the forum to discuss European govvies at 05:00 pm IST. To join the conversation,
click on the link: refini.tv/2P8N0Wp
    
    
    INDIA TOP NEWS
    •India ruling party recommends tax tweaks to attract foreign investors
    Indian Prime Minister Narendra Modi's party has recommended adjusting rules
on taxing equity market returns in the upcoming budget on Feb. 1, which if
accepted, could attract more capital inflows into the stock markets, a senior
party leader said.
    •India's pollution regulator ponders coal plant penalties
    Authorities are assessing how seriously to punish the operators of
coal-fired plants around New Delhi that missed a year-end deadline to fit
equipment to curb harmful emissions, a senior official at the federal pollution
regulator said on Wednesday.
    •IndiGo shareholders reject changing rules on stock sales 
    Interglobe Aviation, the operator of India's top airline IndiGo, said on
Wednesday a majority of shareholders voted against a resolution seeking to ease
some rules on the sale and purchase of shares by its main
shareholders.
    •Indian ministries buy more air purifiers as capital battles toxic air
    India's government has stepped up the purchase of air purifiers over the
last two years, taking the number of devices in ministries to protect against
deteriorating air quality to nearly 300, government data seen by Reuters showed.

    •Jaguar Land Rover CEO Ralf Speth to step aside in September
    Jaguar Land Rover's Chief Executive Officer Ralf Speth will step down in
September when his contract ends, but will retain an advisory role at the
British carmaker, the Financial Times reported on Wednesday.


        
    GLOBAL TOP NEWS
    •Republicans hopeful Senate will acquit Trump in impeachment trial as early
as Friday
    A Democratic push to force Republicans to accept witnesses at President
Donald Trump's impeachment trial in the U.S. Senate appeared to be flagging on
Wednesday, raising the possibility he could be acquitted as early as
Friday.
    •More Japanese evacuated from China virus epicentre as death toll climbs
    A plane of Japanese evacuees from the virus-hit Chinese city of Wuhan
arrived in Tokyo as the total number of confirmed deaths from the newly
identified pathogen in the country rose by 38 to 170 and infections also
jumped.
    •Samsung Electronics sees gradual chip rebound in 2020 after Q4 profit
plunge
    Samsung Electronics said it expects earnings to bounce back in 2020 after a
fourth-quarter slump, helped by a gradual recovery in memory chip demand from
data centre customers and 5G smartphone makers.
    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    •SGX Nifty nearest-month futures 0.1% lower at 12,119.00.
    •The Indian rupee is expected to open lower against the dollar as Asian
currencies fell amid a further increase in deaths and inflections from the China
virus. The World Health Organization said it would convene a meeting to decide
whether the virus is a global emergency.
    •Indian government bonds are likely to trade largely unchanged as investors
await the federal government's annual budget on Saturday, where a fiscal
slippage is factored in.The yield on the benchmark 6.45% bond maturing in 2029
is likely to trade in a range of 6.55%-6.60%.
    
    
    GLOBAL MARKETS
    • The S&P 500 ended slightly lower on Wednesday, as an initial boost from
the likes of Apple, Boeing and General Electric following their quarterly
results faded in the wake of a policy announcement from the Federal Reserve.
   
    • Asian stocks slipped while gold and bonds were in demand as worries about
the spread of a new virus from China sent investors heading for safety.

    • The dollar held near a two-month high against a basket of major currencies
while the Australian dollar and the yuan were under pressure as investors tried
to shield themselves from assets that could be hit by China's virus
epidemic.
    • U.S. Treasury yields fell on Wednesday as the death toll from a Chinese
virus rose sharply, and dipped to session lows after the Federal Reserve left
interest rates unchanged and said it would continue expanding its balance sheet.

    • Oil prices fell as the death toll from the new virus in China climbed to
170 and more airlines cancelled flights to the country's major cities, while
rising U.S. crude inventories added to the negative tone.

    • Gold prices inched up after the U.S. Federal Reserve said the new
coronavirus outbreak could hurt China's economy in the short term.

    
    
                   CLOSE        FII INVESTMENTS  EQUITIES        DEBT
 PNDF spot         71.20/71.23  January 29       (785.91) crore  (1223.64) crore
 10-yr bond yield  6.56 pct     Month-to-date    12,939 crore    (12,250) 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 Prajakta Gadgil in Bengaluru)
  
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