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MORNING NEWS CALL
FACTORS TO WATCH
No major events are scheduled. LIVECHAT - EUROPE ECONOMICS Is Germany heading towards a recession? What does Brexit, trade wars mean for the rest of Europe. We will be chatting with Dr. Christian Grimme, Economist at IFO institute at 5:30 pm IST. To join the conversation, click here INDIA TOP NEWS India's plunging inflation rate opens door to monetary easing India's annual retail inflation rate dropped to an 18-month low of 2.19 percent in December, strengthening views of some economists that the central bank could ease monetary policy next month as prices for many food items fell and the nation faces a manufacturing slowdown. India likely to overshoot fertiliser aid bill by $4.2 billion, banks may chip in -sources India is likely to overshoot its fertiliser subsidy bill for this financial year by 300 billion rupees, three sources with direct knowledge of the matter said, and the government could tap state banks to fund the extra spending. Etihad to raise stake in cash-strapped Jet Airways - source Etihad Airways, which owns 24 percent of debt-laden company Jet Airways, plans to increase its stake in the Indian airline, a source close to the Abu Dhabi carrier told Reuters on Monday. Flipkart unit Myntra and Jabong CEO steps down The chief executive officer of Myntra and Jabong, a unit of Walmart-owned Flipkart, Ananth Narayanan has left the company to pursue external opportunities, Myntra said on Monday. Jet Airways shares jump after report chairman likely to step down Shares in India's Jet Airways jumped on Monday after a report that founder and chairman Naresh Goyal was likely to step down from the board of the embattled company and give up majority control. Bharti Airtel in talks to buy Telkom Kenya - sources Bharti Airtel is in talks to buy Telkom Kenya, the East African nation's smallest telecoms operator, to create a stronger challenger to market leader Safaricom, three industry sources told Reuters on Monday. GLOBAL TOP STORIES Take a second look, Britain's May urges lawmakers before Brexit vote British Prime Minister Theresa May urged lawmakers on Monday to take a "second look" at her deal to leave the European Union, a last-ditch effort to win over a parliament that looks set to reject the agreement. Trump's attorney general nominee vows to shield Russia probe from politics U.S. President Donald Trump's attorney general nominee, William Barr, will pledge at his confirmation hearing to protect Special Counsel Robert Mueller's Russia probe and stress his own independence from the White House, according to prepared testimony released on Monday. China court sentences Canadian to death as diplomatic row deepens A Chinese court on Monday sentenced a Canadian man to be executed for drug smuggling, prompting Canada's Prime Minister Justin Trudeau to accuse China of using the death penalty arbitrarily.
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STATE OF THE MARKETS SGX Nifty nearest-month futures were trading 0.5 percent higher at 10,820.50 from its previous close. -NewsRise The Indian rupee is expected to open higher against the dollar after consumer inflation in Asia’s third-largest economy eased to an 18-month low. The dollar’s decline against major currencies and regional peers is also expected to aid the local currency, a dealer at a commodity firm said. -NewsRise Indian government bonds are expected to rise in early trade as inflation fell to a 18-month low in December, boosting expectations of monetary easing going ahead. The yield on the benchmark 7.17 percent bond maturing in 2028 is likely to trade in a 7.39 percent - 7.44 percent band today. -NewsRise U.S. stocks declined on Monday as an unexpected drop in China's exports reignited worries of a global economic slowdown and prompted caution among investors as the corporate earnings season kicked off. Asian shares were on back foot as an unexpected drop in China's exports heightened worries about the global economy while the British pound braced for a showdown in parliament over the government's Brexit plan. The dollar was marginally firmer than most of its peers, as heightened fears of a slowdown in global growth increased investor demand for safe-haven assets. U.S. Treasury yields advanced on Monday in thin trading as risk sentiment improved and Wall Street shares trimmed losses, with the overall bond market in consolidation mode after volatile moves in the last two weeks. Oil prices rose by 1 percent amid supply cuts by producer club OPEC and Russia, although analysts said much bigger gains were unlikely because of a darkening economic outlook capped gains. Gold prices were steady, pressured by a firm dollar on the back of concerns over slowing global growth, but well supported by expectations the U.S. Federal Reserve could refrain from raising interest rates this year.
CLOSE FII INVESTMENTS EQUITIES DEBT
PNDF spot 70.74/70.77 January 14 -$103.51 mln -$16.89 mln
10-yr bond yield 7.43 pct Month-to-date -$326.85 mln -$271.85 mln
Year-to-date --- ---
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PICTURE OF THE DAY
Lakshmi Narayan Tripathi, chief of the "Kinnar Akhara" congregation for transgender people, dances and sings with her followers during "Kumbh Mela", or the Pitcher Festival, in Prayagraj, previously known as Allahabad, India, January 14. REUTERS/Danish Siddiqui
