To access the newsletter, click on the link: http://share.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN_01172017.pdf If you would like to receive this newsletter via email, please register at: https://forms.thomsonreuters.com/india-morning/ FACTORS TO WATCH 9:00 am: Urban Development Minister Venkaiah Naidu and Health Minister J.P. Nadda at an event in New Delhi.
LIVECHAT-GLOBAL TRADE We chat with Arancha Gonzalez, Executive Director of the International Trade Centre, about the outlook for global trade in the context of Brexit and Trump's presidency at 12:30 pm. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS Reliance expects sharp rise in operating profit from next financial year Indian oil-to-telecoms conglomerate Reliance Industries Ltd expects a sharp rise in operating profit from the next financial year as it completes an expansion of its core refining and petrochemicals business, a senior executive said on Monday.
Jaitley says July 1 rollout of GST "more realistic" India's new nationwide sales tax is now expected to be rolled out from July after Finance Minister Arun Jaitley on Monday managed to break a three-month long deadlock on who would administer the tax.
IMF upgrades China growth estimate on stimulus, downgrades India after cash crunch The International Monetary Fund on Monday raised its forecast for China's economic growth this year by 0.3 percentage points to 6.5 percent, on expectations of continued policy stimulus.
India cenbank relaxes cash withdrawal limit with immediate effect India's central bank on Monday relaxed cash withdrawal limits from automated teller machines and current accounts with immediate effect.
Indian election commission backs son in family dispute over party India's election commission on Monday backed the leader of the country's biggest state in his battle with his father for control of their party, a feud Prime Minister Narendra Modi wants to exploit in a crucial election.
GLOBAL TOP NEWS Britain will not seek "half in, half out" EU deal -PM May Britain will not seek a Brexit deal that leaves it "half in, half out" of the European Union, Prime Minister Theresa May will say, according to her office, in a speech setting out her 12 priorities for upcoming divorce talks with the bloc.
Chinese president to defend globalisation in Davos Chinese President Xi Jinping will defend globalisation in the face of mounting public hostility in the West in a speech at the World Economic Forum that will underline Beijing's growing global role.
Europeans look past Trump remarks to keep trans-Atlantic alliance alive If Washington's European allies had any hope that Donald Trump would sound less like Donald Trump now that he is days from the U.S. presidency, his first European newspaper interview quickly buried it.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) The SGX Nifty Futures was trading at 8,452.00, up 0.2 pct from its previous close.
The Indian rupee will likely open little changed to lower against the dollar, as traders remain cautious amid concerns that U.K. Prime Minister Theresa May will lay out plans for Britain's decisive break from the European Union at a speech later today.
Indian government bonds will likely open steady, as the market continues to await fresh triggers, while a lack of clarity on the next interest rate cut damps investor sentiment. The yield on the benchmark 6.97 pct bond maturing in 2026 is likely to trade in a 6.41 pct-6.46 pct band today. The bond had closed at 103.75 rupees, its lowest since Jan. 2, yielding 6.44 pct yesterday.
GLOBAL MARKETS Asian stocks and the pound sagged as investors waited for British Prime Minister Theresa May to lay out plans to exit the European Union, which traders fear will see Britain lose access to the bloc's single market.
The British pound flirted with a three-month low, hit by fears that Prime Minister Theresa May's speech later in the day will set Britain on course to lose access to the lucrative European Union single market.
Oil markets were mixed, supported by Saudi Arabia saying it would strictly adhere to a commitment to cut output, but held back by scepticism in financial markets that oversupply would be curbed.
Gold prices inched up, after hitting more than seven-week highs in the prior session, ahead of a speech by British Prime Minister Theresa May on plans for a "hard Brexit", which could dent risk sentiment and boost safe-haven assets like gold.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 68.09/68.12 January 16 -$50.95 mln -$54.92 mln 10-yr bond yield 6.68 pct Month-to-date - -$312.18 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= 68.10 Indian rupees) (Compiled by Sourav Bose in Bengaluru)
