Fri. Sep 25th, 2020

To access a PDF version of this newsletter, please click here http://share.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN_09162020.pdf If you would like to receive this newsletter via email, please register at: https://solutions.refinitiv.com/MNCIndiaSubscriptionpage FACTORS TO WATCH 9:00 am: The Monsoon session of the Parliament continues in New Delhi. 10:00 am: Sun TV Network is scheduled to hold its annual general meeting. 11:00 am: RBI Governor Shaktikanta Das is scheduled to participate in FICCI’s National Executive committee meeting. 11:00 am: HPCL is scheduled to hold its annual general meeting. 12:30 pm: Computer Age Management Services is scheduled to hold a virtual press meet to announce its forthcoming IPO. 1:45 pm: State Bank of India Chairman Rajnish Kumar and Titan Managing Director C.K. Venkatraman are scheduled to hold a virtual press conference to announce a strategic collaboration. 2:00 pm: Petroleum Secretary Tarun Kapoor and Joint Secretary Sunil Kumar at ASSOCHAM are likely to discuss the role of Oil and Gas sector in a webinar. 3:00 pm: CARE Ratings Director Debal Mitra and Associate Director Sudhir Kumar will participate in a webinar on “Power DISCOMs: Fading into twilight after UDAY?” 4:30 pm: The Central Board of Direct Taxes member S.K. Gupta is scheduled to participate in the Nangia Andersen’s webinar. PROMOTION LIVECHAT – REUTERS GLOBAL MARKETS FORUM Reuters stocks correspondents covering Europe and the Americas look at the moves in equities on both sides of the Atlantic. To join the conversation at 7:30 pm IST, click on the link: https://refini.tv/2P8N0Wp INDIA TOP NEWS • At least 17 Indian MPs infected with coronavirus as cases near 5 million At least 17 members of the Indian parliament have tested positive for the coronavirus, government officials said on Tuesday, underlining the widening spread of infections set to cross five million cases soon. • Delhi state panel criticises Facebook for India chief’s no-show A Delhi legislative panel on Tuesday warned Facebook it could face contempt proceedings after its India head failed to show up at a hearing into its alleged role in fanning religious riots in the capital city earlier this year. • Novavax aims for 2 billion COVID-19 vaccine doses with expanded India deal U.S. drug developer Novavax said on Tuesday it was doubling its potential COVID-19 vaccine manufacturing capacity to two billion doses annually under an agreement with Serum Institute of India. • Forecasts of heavy rains raise fear for summer crops in India Forecasts of heavy rains across key central and western growing regions of India have stoked fears of potential crop losses in the second half of September, farm experts and industry officials said. • Walmart’s Flipkart to hire 70,000 in India ahead of big shopping event Walmart’s Flipkart said on Tuesday it would create 70,000 new jobs and employ many more as delivery partners and in other roles as it prepares for a surge in online shopping during the busy Indian festive season. • Indian taxes keep Toyota focused on plant utilisation not expansion Toyota Motor said on Tuesday it will focus on fully utilising production capacity at its plants in India, after a report that it would halt expansion due to high taxes. • Israel’s REE Automotive working on more collaborations following Mahindra EV deal Israel’s REE Automotive, developer of a rolling chassis for electric vehicles, expects to sign more collaboration deals in coming months following its agreement with Mahindra and Mahindra. • India pushes tonnes of supplies to disputed China border ahead of winter From deploying mules to large transport aircraft, India’s military has activated its entire logistics network to transport supplies to thousands of troops for a harsh winter along a bitterly disputed Himalayan border with China. GLOBAL TOP NEWS • WTO finds Washington broke trade rules by putting tariffs on China; ruling angers U.S. The World Trade Organization found on Tuesday that the United States breached global trading rules by imposing multibillion-dollar tariffs in President Donald Trump’s trade war with China, a ruling that drew anger from Washington. • Japan’s exports extend double-digit declines as pandemic hits demand Japan’s exports posted a double-digit slump for a sixth straight month in August as U.S.-bound shipments shrank due to a global demand slowdown from the coronavirus pandemic, casting a shadow over a trade-led recovery from the deep recession. • Trump says Oracle close to TikTok deal as ByteDance aims for majority ownership President Donald Trump said on Tuesday he had heard Oracle was very close to a deal over ByteDance’s TikTok, even as sources said the Chinese company was seeking to keep majority ownership of the popular short video app. LOCAL MARKETS OUTLOOK (As reported by NewsRise) • SGX Nifty nearest-month futures were trading 0.2% lower at 11,511.80. • The Indian rupee is expected to inch higher against the dollar ahead of the Federal Reserve’s policy review, which would include the central bank’s updated economic and interest rate forecasts. • India’s federal government bond yields are likely to trade little changed as traders await fresh cues on interest rates. The yield on the benchmark 5.77% bond maturing in 2030 is likely to trade in a range of 6.00%-6.05%. GLOBAL MARKETS • U.S. stocks rose on Tuesday as investors hoped the Federal Reserve would stick with its supportive policy stance as the central bank’s two-day meeting got under way. • Most Asian shares rose, extending a rally driven by upbeat Chinese and U.S. economic data, but the dollar and U.S. yields held steady as investors awaited the Federal Reserve’s view on the economy at its policy meeting. • The dollar and the yen both found support as traders finessed positions ahead of a U.S. Federal Reserve policy decision, while the Chinese yuan held gains as the outlook brightened for the world’s second-largest economy. • Investors drove longer-term U.S. Treasury yields higher on Tuesday, steepening the yield curve, as equity markets rose while the Federal Reserve began a two-day meeting. • Oil prices rose, extending gains from the previous session, as a hurricane disrupted U.S. offshore oil and gas production and an industry report showed a big drop in U.S. crude stockpiles. • Gold prices eased, retreating from a near two-week high hit in the previous session, as the dollar gained ahead of a U.S. Federal Reserve policy decision due later in the day. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 73.64/73.67 September 15 600.01 228.95 crores crores 10-yr bond yield 6.02% Month-to-date (453) crores 1,237 crores Year-to-date 35,677 (1,11,508) crores crores (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 = 73.60 Indian rupees) (Compiled by Priyanka Das in Bengaluru)

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