Morning News Call – India, January 16

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    FACTORS TO WATCH
    10:30 am: Housing and Urban affairs Minister Hardeep Singh Puri at FICCI’s
Smart Cities Summit in New Delhi.
    10:30 am: Science Minister Harsh Vardhan to inaugurate Saksham 2018 event in
New Delhi.
    12:30 pm: Commerce Ministry Joint Secretary Santosh Kumar Sarangi and Trade
Promotion Council of India Chairman Mohit Singla to address media on ‘Indus
Food’ trade show in New Delhi.
    1:00 pm: Science Minister Harsh Vardhan at an event in New Delhi.
    2:30 pm: TRAI Chairman R.S. Sharma at open house discussion on mobile
portability charges in New Delhi.
    4:00 pm: Aviation Minister Ashok Gajapathi Raju, Junior Aviation Minister
Jayant Sinha at open house discussion in New Delhi.
    5:30 pm: New India Assurance Chairman G. Srinivasan, Indian Banks’
Association CEO V.G. Kannan at ‘Role and Responsibility of Insolvency Resolution
Professionals’ conference in Mumbai. 
    
    GMF:LIVECHAT-COMMODITIES
    We take a look at the outlook for commodities in the first quarter of 2018
with Hans van Cleef, senior energy economist at ABN AMRO at 03:30 pm IST. To
join the conversation, click on the link: here
    
    
    INDIA TOP NEWS
    • India's trade deficit widens to over three-year high in December
    India's December trade deficit widened to its highest in more than three
years as higher import bills for gold and crude oil weighed on rising exports,
government data showed on Monday.
    • India to add facial authentication for ID card security
    India will build facial recognition into its national identity card in
addition to fingerprints after a series of breaches in the world's biggest
biometric identification programme, the government said on Monday.
    • Air India to be split into 4 entities ahead of sale - Bloomberg
India will split state-run carrier Air India into four separate companies and
offer at least 51 percent in each of them as part of a divestment plan proposed
by the government, Bloomberg reported on Monday.
    • Federal Bank Q3 profit rises 26 percent, lags estimates
    India's Federal Bank Ltd posted a 26 percent rise in its third-quarter net
profit, helped by higher interest income, but missed analysts' estimates by a
small margin.
    • Israel's Netanyahu pushes for India free trade deal during rare visit
    India and Israel will begin work on a free trade pact that Israel has been
pushing for, officials said on Monday, as Benjamin Netanyahu began a first visit
by an Israeli prime minister in 15 years.
    • India reports highly pathogenic H5N8 bird flu in Karnataka -OIE
    India has reported an outbreak of a highly contagious bird flu virus near
Bengaluru in the southern state of Karnataka, the World Organisation for Animal
Health said on Monday, citing a report from the Indian agriculture
ministry.
    
    
    GLOBAL TOP NEWS
    • EXCLUSIVE-China's JD.com targets $2 bln fundraising at logistics unit -
sources
    China's second-biggest e-commerce firm JD.com has kicked off a fundraising
round at its logistics unit with a target of at least $2 billion, and eventually
plans to list the business overseas, people with direct knowledge of the matter
said.
    • HNA's problems mount as airlines delay payments, bank sets up team to
handle debt-sources
    Some airlines affiliated with China's HNA Group Co Ltd are delaying aircraft
lease payments to lessors, and Export-Import Bank of China, which is a long-term
financer of the group, has formed a team to handle the conglomerate's liquidity
issues, several banking and leasing sources said.
    • North Korean orchestra to perform in South during Olympics amid easing
tensions
    North Korea agreed during rare talks on Monday to send a 140-strong
orchestra to perform during the Winter Olympics in South Korea next month, Seoul
said, amid easing tensions after a months-long standoff over the North's weapons
programmes.
    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    The SGX Nifty Futures were trading at 10,762.00 trading up 0.11 pct from its
previous close.
    The Indian rupee will likely trade lower against the dollar in opening
session, as trade deficit at home widened to a more-than-three-year high.
    Indian government bonds are likely to fall in early trade amid concerns
rising crude oil prices would stoke inflation. The yield on the benchmark 6.79
pct bond maturing in 2027 is likely to trade in a 7.42 pct-7.47 pct band today. 
  
    
    
    GLOBAL MARKETS
    • Asian shares slumped, as miners were pressured by weaker Chinese iron ore
prices, while the euro stood near a 3-year peak on rising expectations that the
European Central Bank could pare its monetary stimulus.
    • The euro inched lower, taking a breather after having rallied on the back
of optimism about the euro zone's economic outlook and expectations for the
European Central Bank to wind down its massive monetary stimulus.
    • Brent crude prices were settling in around $70 per barrel, levels last
seen before the start of an oil market slump in late 2014.
    • Gold prices held firm near four-month highs hit in the previous session,
buoyed after the U.S. dollar slumped to three-year lows against a basket of
currencies on Monday.
    
    
                   CLOSE        FII INVESTMENTS  EQUITIES    DEBT
 PNDF spot         63.45/63.48  January 15       $5.18mln    -$141.75mln
 10-yr bond yield  7.41 pct     Month-to-date    $254.55mln  $561.55mln
                                Year-to-date     $254.55mln  $561.55mln
 
    
    
    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 = 63.5100 Indian rupees)

 (Compiled by Nishit Kunal in Bengaluru)
  



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