Morning News Call - India, January 24 - EntornoInteligente /

Jan 24 (Reuters) – 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 5:00 pm: RBI to release weekly foreign exchange data in Mumbai. LIVECHAT – LIVE FROM DAVOS Moderated by experienced Reuters journalists, join us in the GMF 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. Peter Lochbihler, Global Director of Public Affairs, at 12:30 pm IST. To join the conversation, click on the link: INDIA TOP NEWS • India likely to fund some $28 billion of 2020/21 expenditure via off-budget borrowings India is likely to fund roughly $28 billion of its expenditure outlay in its budget for fiscal 2020/21 via off-budget borrowings, three government sources said, as it seeks to revive a sagging economy while keeping its fiscal deficit in check. • RBI to hold rates on inflation concerns, fiscal boost likely Rising inflation is expected to keep the Reserve Bank of India from cutting rates again until late this year, while an expansionary federal budget due next month attempts to put a floor under rapidly-slowing growth, a Reuters poll found. • HDFC Bank to tap Egon Zehnder to identify Aditya Puri’s successor HDFC Bank will retain global executive search firm Egon Zehnder to identify a successor to managing director Aditya Puri, the country’s top private lender said on Thursday. • Malaysia to buy more Indian sugar to resolve palm oil spat Malaysia’s top sugar refiner said it will increase purchases of the commodity from India, which according to two sources is part of efforts to placate New Delhi amid an ongoing spat over palm oil imports. • U.S. officials see EU, British trade deals in 2020, not India The Trump administration expects to secure trade deals with the European Union and Britain this year, but not India, top U.S. officials said on Thursday. • U.S. regulator to review recommendation on Fiat Chrysler’s Jeep complaint against Mahindra A U.S. regulator said it will review part of a recommendation made last fall that India’s Mahindra and Mahindra Ltd infringed upon the intellectual property rights of Fiat Chrysler Automobiles’ Jeep SUV design. • SpiceJet to take ‘substantial’ profit hit from 737 MAX grounding – Chairman SpiceJet Ltd expects a “substantial” profit hit from the grounding of Boeing’s 737 MAX aircraft, co-founder and chairman Ajay Singh said on Thursday. GLOBAL TOP NEWS • China virus death toll mounts to 25, infections spread A new coronavirus has killed 25 people in China and infected more than 800, the government said on Friday, as the World Health Organisation declared it an emergency but stopped short of declaring the epidemic of international concern. • Trump to sign USMCA trade deal Wednesday at the White House U.S. President Donald Trump will sign a trade pact between the United States, Mexico and Canada on Wednesday during a ceremony at the White House, an administration official told Reuters on Thursday. • House Democrats in impeachment trial blast Trump’s attempts to sully rival Biden Democrats worked methodically at U.S. President Donald Trump’s impeachment trial on Thursday to dismantle his long-standing allegation that Democratic presidential contender Joe Biden acted improperly toward Ukraine while vice president. LOCAL MARKETS OUTLOOK (As reported by NewsRise) • SGX Nifty nearest-month futures were trading 0.2% lower at 12,173.50. • The Indian rupee is expected to open little changed against the dollar as investors await further details about the China respiratory virus outbreak. • Indian government bonds are likely to edge lower ahead of fresh supply of notes at a weekly auction. The yield on the benchmark 6.45% bond maturing in 2029 is likely to trade in a range of 6.58%-6.63% until the auction outcome today. GLOBAL MARKETS • The S&P 500 ended slightly higher and the Nasdaq eked out a record closing high on Thursday, helped by a jump in Netflix, while news about the coronavirus outbreak spreading from China and mixed earnings results kept a lid on the market. • Stocks made a barely positive start in early Asian trade after the world’s health body called it a little too early to declare a coronavirus outbreak a global emergency. • The euro hovered near a seven-week low against the dollar after the European Central Bank was seen as more dovish than expected, while anxiety over China’s coronavirus outbreak propped up the safe-haven yen. • U.S. Treasury prices rallied on Thursday, pushing yields to multi-week lows, boosted by safe-haven demand on persistent concerns about the impact of the latest coronavirus, which recently broke out in China. • Oil prices were steady, but on track for a fall of up to 5% for the week on growing concern that fuel demand will weaken as the spread of a respiratory virus from China that has killed 25 so far dents travel and darkens the economic outlook. • Gold inched lower as investors opted for riskier assets after the World Health Organisation stopped short of declaring the China virus outbreak a global emergency, but the precious metal was on track to post a weekly gain. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 71.24/71.27 January 23 28.75 crore 926.86 crore 10-yr bond yield 6.60 pct Month-to-date 11,806 crore (11,917) 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 = 71.34 Indian rupees) (Compiled by Pooja Kesavan in Bengaluru)

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