To access the newsletter, click on the link: http://share.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN_01312017.pdf If you would like to receive this newsletter via email, please register at: https://forms.thomsonreuters.com/india-morning/ FACTORS TO WATCH 10:00 am: NITI Aayog Chief Executive Amitabh Kant, DIPP Secretary Ramesh Abhishek at an event in New Delhi.
11:00 am: Budget session of parliament starts at New Delhi.
12:00 pm: Government to table economic survey in parliament at New Delhi.
1:00 pm: Chief Economic Advisor Arvind Subramanian to brief media after tabling Economic Survey in parliament at New Delhi.
2:00 PM: Hasmukh Adhia and Chairman CBDT Sushil Chandra to brief media at New Delhi.
5:00 pm: Government to release December infrastructure output data at New Delhi.
LIVECHAT-DAVOS REFLECTIONS Reflections on Davos and global risk trends for 2017 with with Aengus Collins, Practice Lead, Global Risks at the World Economic Forum at 3:30 pm.To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS Health budget may rise after minister warns of funding crunch India's health ministry is likely to see a substantial increase in funding, after it warned that its programmes were short of cash and sought more than $1.2 billion in additional money, according to government officials and documents seen by Reuters.
As price war rages, Vodafone India seeks merger with rival Idea Cellular Britain's Vodafone Group confirmed on Monday it was in talks to merge its Indian subsidiary with local rival Idea Cellular in an all-share deal that would create a new market leader better able to contest a brutal new price war.
India to explore mining potential with massive aerial survey India will launch its biggest aero geophysical survey of minerals next month to unearth deep-seated resources such as gold and copper, as it seeks to develop its mining industry and reduce its dependence on imports.
RBI lifts ATM cash withdrawal limits from Feb 1 The Reserve Bank of India will remove limits placed on daily cash withdrawals from automated teller machines from Feb. 1 and will also lift all curbs on branch withdrawals from current account, cash credit and overdraft accounts with immediate effect, it said in a circular on Monday.
India cedes top coal importer spot back to China as growth trend stalls: Russell India has surrendered its status as the world's top importer of coal back to China, with its overseas purchases in 2016 falling to less than 200 million tonnes.
GLOBAL TOP NEWS Trump fires top government lawyer for defiance on immigration order U.S. President Donald Trump fired the federal government's top lawyer Sally Yates on Monday after she took the extraordinarily rare step of defying the White House and saying the Justice Department would not defend his new travel restrictions targeting seven Muslim-majority nations.
Trump order targeting business rules leaves key regulations untouched President Donald Trump signed an order on Monday that will seek to dramatically reduce federal regulations, but the policy will not apply to most of the financial reform rules introduced by the Obama administration.
Japan Dec industrial output rises 0.5 percent, beats expectations Japan's factory output rose for a second straight month in December and household spending fell less than expected, in a welcome - if modest - sign of economic recovery.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) The SGX Nifty Futures was at 8,636.50, down 0.20 pct from its previous close.
The Indian rupee will likely open higher against the dollar, tracking broad weakness in the greenback stemming from U.S. President Donald Trump's immigration curbs, even as concerns about the impact of his policies on global trade thwarted risk appetite. The rupee ended at 67.95 to the dollar yesterday, also its highest since Jan. 17.
Indian government bonds will likely open steady to lower, as caution persists ahead of the government's economic survey later today and federal budget for the next fiscal year tomorrow. The yield on the benchmark 6.97 pct bond maturing in 2026 is likely to trade in a 6.38 pct-6.43 pct band today. The bond had closed at 104.00 rupees, yielding 6.40 pct yesterday.
GLOBAL MARKETS Major U.S. stock indexes posted their largest drop so far in 2017 on Monday as investors worried that a curb on immigration ordered by Donald Trump was a reminder that some of the U.S. president's policies are not market-friendly.
Asian shares were on the defensive as stringent curbs on travel to the U.S. ordered by President Donald Trump brought home to investors that he is serious about putting his radical campaign pledges into action.
The dollar wobbled after tumbling overnight against the yen, which benefited from its safe-haven status as U.S. President Donald Trump's tough stance on immigration rattled investors and curbed risk appetite.
Most U.S. Treasuries were steady on Monday before the Federal Reserve meets on Tuesday and Wednesday and ahead of a heavy week of data, while long-dated bonds were weighed down by Microsoft's $17 billion debt sale.
Brent fell around 5 percent from their early January peak as rising U.S. drilling activity offset efforts by OPEC and other producers to cut output in an effort to prop up the market.
Gold edged up on a weaker dollar and worries over U.S. policy under President Donald Trump, with focus shifting to this week's meeting of the Federal Reserve.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 68.01/68.04 January 30 $89.51 mln -$0.74 mln 10-yr bond yield 6.7 pct Month-to-date -$180.98 mln -$135.65 mln Year-to-date - - 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 = 67.95 Indian rupees) (Erum Khaled in Bengaluru)
