To access a PDF version of this newsletter, please click here here If you would like to receive this newsletter via email, please register at: here FACTORS TO WATCH 11:00 am: DPIIT Secretary Guruprasad Mohapatra at FICCI “TechXchange” webinar. 4:30 pm: Kotak Mahindra Bank Joint Managing Director Dipak Gupta at virtual press conference post 2Q earnings. 5:00 pm: Persistent Systems conference call post 2Q earnings. 5:30 pm: Prime Minister Narendra Modi, Petroleum Minister Dharmendra Pradhan at India Energy forum. 5:30 pm: Torrent Pharmaceuticals conference call post 2Q earnings. PROMOTION LIVECHAT - REUTERS GLOBAL MARKETS FORUM Mike Dolan, Reuters Editor at Large, Finance and Markets, discusses themes in play for the upcoming week. To join the conversation at 3.30 pm IST, click here here INDIA TOP NEWS • Amazon wins arbitration order against Future's deal with Reliance A Singapore arbitration panel has put on hold Future Group's $3.38 billion asset sale to Reliance Industries Ltd RELI.NS, an interim win for Amazon.com Inc AMZN.O, which had alleged the deal between the Indian firms breached existing agreements. • Indian lenders given deadline to implement interest waiver scheme India’s lenders were set a November 5 deadline on Saturday to waive interest payments on coronavirus support loans in a move that could give relief to millions of people ahead of one of the country's biggest festivals. • India rate setters to keep policy accommodative, but wary of inflation A second wave of COVID-19 remains a threat to the Indian economy and the central bank believes monetary policy needs to remain accommodative despite inflationary pressures, according to the minutes of the monetary policy committee's latest meeting, released on Friday. • India's central bank chief tests positive for coronavirus India's central bank Governor Shaktikanta Das said on Sunday he had tested positive for the coronavirus, the latest high profile name in the country to contract the virus. • Franklin Templeton needs unit holder approval for scheme wind-ups -Indian court An Indian court ruled on Saturday that Franklin Templeton Mutual Fund will need to seek approval from unit holders before winding up six schemes with combined assets of some 280 billion rupees • India seeks health worker database for possible COVID-19 vaccination India is urgently preparing a database of all government and private health personnel to quickly vaccinate them against the novel coronavirus once it is safe to do so, health authorities said on Friday. • No more scotch? India moves to ban imported goods at military shops India has ordered its 4,000 military shops to stop buying imported goods, according to a document reviewed by Reuters, a move that could send an unwelcome signal to foreign liquor firms such as Diageo and Pernod Ricard. • India's Bharat Biotech in talks to take vaccine candidate global India's Bharat Biotech is in discussions with more than 10 countries that have shown an interest in a potential COVID-19 vaccine it is developing with a government agency, a company executive told Reuters on Friday. GLOBAL TOP NEWS •Pence staff hit by COVID-19 outbreak as Biden says Trump has surrendered to pandemic Vice President Mike Pence campaigned on Sunday despite a COVID-19 outbreak among his aides and President Donald Trump claimed progress as the United States set records for daily infections, prompting Democratic challenger Joe Biden to accuse Trump of surrendering to the pandemic. •China to set five-year plan for steering economy through choppy waters China's top leaders will chart the country's economic course for 2021-2025 at a key meeting starting on Monday, seeking to balance growth and reforms to avoid stagnation amid an uncertain global outlook and deepening tensions with the United States. • U.S. sees highest number of new COVID-19 cases in past two days The United States has seen its highest ever number of new COVID-19 cases in the past two days, keeping the pandemic a top election issue as Vice President Mike Pence travels the country to campaign despite close aides testing positive. LOCAL MARKETS OUTLOOK (As reported by NewsRise) • SGX Nifty nearest-month futures 0.2% higher at 11,960.80. • The Indian rupee is expected to fall against the dollar on lackluster regional cues amid the deadlock on the U.S. fiscal stimulus and increasing worries over surging coronavirus infections in the U.S. and Europe. • Indian federal government bond yields are likely to edge lower as the minutes of the Monetary Policy Committee’s latest meeting cemented bets of future rate cuts. The yield on the benchmark 5.77% bond maturing in 2030 is likely to trade in a 5.81%-5.86% band today. GLOBAL MARKETS • The S&P 500 and Nasdaq closed modestly higher on Friday in choppy trading, with investors keeping a close eye on negotiations on a U.S. stimulus package that would ease the economic shock caused by the coronavirus pandemic. • Asian shares got off to a subdued start as surging coronavirus cases in Europe and the United states threatened the global outlook, while China's leaders meet to ponder the future of the economic giant. • The dollar found support as surging coronavirus cases in Europe and the United States and a lack of progress toward a U.S. stimulus package put traders in a cautious mood, although hopes for a Brexit trade deal held sterling steady. • Benchmark U.S. Treasury yields retraced from four-month highs reached earlier in the day on Friday as investors waited to learn whether U.S. lawmakers will strike a deal on new fiscal stimulus. • Oil prices fell, extending last week's losses, as a jump in COVID-19 infections in the United States and Europe raised alarms over crude demand, while the prospect of increased supply also hurt sentiment. • Gold prices eased to an over one-week low in early Asia trade as the dollar firmed and talks over the new U.S. coronavirus aid package showed no signs of progress. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 73.55/73.58 October 23 1,225.46 crores 511.57 crores 10-yr bond yield 5.84 pct Month-to-date 15,642 crores 1,513 crores Year-to-date 43,989 crores (1,07,274) crores (FII investment numbers are in Indian rupees. Source: National Securities Depository Limited) 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 = 69.39 Indian rupees) (Compiled by Pranay Prakash in Bengaluru)
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