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To join the conversation, click on the link: refini.tv/2P8N0Wp INDIA TOP NEWS • India's Finance Commission likely to reject $12 billion package to help utilities cut pollution - source India's Finance Commission has told the power ministry that its proposal to award utilities 835 billion rupees ($11.6 billion) in incentives to install equipment to curb emissions is "unviable," a senior official at the ministry told Reuters on Tuesday. • India's state-run banks report fraud of more than $13 billion in 6 months India's state-run banks reported fraud worth 958 billion rupees ($13.3 billion) from April to end-September of this year, the country's finance minister said on Tuesday, as the government struggles to help banks recoup losses. • Kashmir shutdown caused losses of more than $1 billion, trade body says Economic losses in Kashmir have run well over a billion dollars since India revoked its autonomy and statehood in August, the main trade body in the Himalayan region said, adding that it planned to sue the government for damages. • Airtel, Vodafone Idea jump on price hikes announcement Shares of Indian telecom operators Bharti Airtel Ltd and Vodafone Idea Ltd surged on Tuesday after the companies announced tariff hikes that will take effect next month. • India may extend onion export ban to Feb to cap domestic prices India may keep a ban on onion exports until February because domestic prices have risen after the harvest of summer-sown crops, which were expected to augment supplies, was delayed and damaged by untimely rains, a government official said. • Tata Steel faces battle with unions over plans to cut up to 3,000 European jobs Steelworkers in Britain and the Netherlands said on Tuesday they would fight Tata Steel's plans to cut up to 3,000 jobs across its European operations, as the sector wrestles with excess supply, weak demand and high costs. GLOBAL TOP NEWS • Couldn't believe what I was hearing': White House aides testify in impeachment probe Senior U.S. officials told impeachment investigators in Congress on Tuesday they were concerned by President Donald Trump's effort to get Ukraine to investigate a political rival, with one White House official calling it a "shock." • Without a China trade deal, the U.S. will hike tariffs - Trump The United States would raise tariffs on Chinese imports if no deal is reached with Beijing to end a trade war, U.S. President Donald Trump said on Tuesday, threatening an escalation of the spat that has damaged economic growth worldwide. • U.S. Senate passes HK rights bill backing protesters, angers Beijing The U.S. Senate, in a unanimous vote, passed legislation on Tuesday aimed at protecting human rights in Hong Kong amid a crackdown on a pro-democracy protest movement, drawing condemnation from Beijing. LOCAL MARKETS OUTLOOK (As reported by NewsRise) • SGX Nifty nearest-month futures were 0.1% lower at 11,968.50. • The Indian rupee is expected to open lower against the dollar, tracking losses in regional currencies and equities amid mounting tensions between the U.S. and China. • Indian government bonds are likely to open higher, as crude oil prices and U.S. Treasury yields fell overnight amid lingering uncertainty about U.S.-China trade negotiations. The yield on the benchmark 6.45% bond maturing in 2029 is likely to trade in a range of 6.45%-6.50%. GLOBAL MARKETS • The Dow Jones Industrial Average and the S&P 500 fell from record levels on Tuesday as dour forecasts from retailers Home Depot and Kohl's fueled worries about consumer spending and the U.S.-China trade dispute dragged on. • Asian shares stumbled as the Sino-U.S. trade talks produced nothing but a stream of conflicting messages, while concerns about a glut of supply left oil prices nursing their biggest one-day loss in seven weeks. • The dollar and the safe-haven yen found support as a lack of clarity on U.S.-China trade talks kept investors cautious ahead of the release of minutes from the U.S. Federal Reserve's last policy meeting. • U.S. long-dated Treasury yields fell to fresh two-week lows on Tuesday, with risk appetite weaker overall amid persistent uncertainty over U.S.-China trade negotiations. • Oil prices were steady, after falling the past two days, as a surge in U.S. stockpiles reinforced concerns about lacklustre global economic growth amid the trade war between the United States and China, the world's two biggest oil consumers. • Gold prices rose on heightened worries that a Sino-U.S. trade deal could hit a snag after President Donald Trump threatened fresh tariffs on Beijing and as the U.S. Senate passed a bill supporting Hong Kong anti-government protesters. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 71.84/71.87 November 19 (528.86) crore (898.09) crore 10-yr bond yield 6.50% Month-to-date 12,740 crore 3,299 crore Year-to-date 81,293 crore 36,155 crore 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 = 71.82 Indian rupees) (Compiled by Nayyar Rasheed in Bengaluru)
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