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Morning News Call - India, September 14

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    FACTORS TO WATCH
    9:00 am: The Monsoon session of the Parliament begins in New Delhi.
    12:00 pm: The Government is scheduled to release August wholesale price
inflation data in New Delhi.
    5:30 pm: The Government is scheduled to release August consumer price
inflation data in New Delhi.
    
    PROMOTION
    LIVECHAT - REUTERS GLOBAL MARKETS FORUM
    Wayne Cole, Reuters Chief Treasury Correspondent in Sydney, discusses the
themes to watch for markets in the week ahead. To join the conversation, click
on the link: refini.tv/2P8N0Wp
    
    
    INDIA TOP NEWS
    • India considers emergency authorisation of vaccine as COVID-19 cases surge
    India said on Sunday it was considering granting an emergency authorisation
for a COVID-19 vaccine, particularly for the elderly and people in high-risk
workplaces, as the country's number of reported infections passed 4.75 million.
 
    • Oxygen grows scarce in some parts of India as coronavirus cases rise
    Oxygen supply has grown scarce in some parts of India hard hit by
coronavirus, hospital and local government officials said, as India reported a
record daily jump in cases for a second consecutive day, logging 97,570 new
infections on Saturday.
    • India's secondary listing plan for firms joining foreign markets irks
investors-sources
    Indian companies that list overseas will have to later launch on a domestic
bourse under policy changes being considered by government officials, sources
told Reuters, a move that global investors fear will harm valuations.

    • Delhi city lawmakers summon Facebook India chief over February riots
    A panel of local lawmakers in New Delhi have summoned Facebook's top
executive in India to answer allegations that it did not properly apply hate
speech rules and policies, which had contributed to riots that rocked the city
in February. 
    • India's aviation watchdog asks IndiGo to take action against passengers
breaking flight rules 
    India's airline regulator on Friday asked IndiGo, the country's largest
airline, to take action against passengers that broke flying rules while chasing
a Bollywood actress onboard an aircraft, a government official told Reuters.
 
    • DCGI orders suspension of Serum's India trials of AstraZeneca's COVID-19
vaccine - ANI
    India's drug regulator has asked Serum Institute of India to suspend
recruitment in its clinical trials of AstraZeneca's potential COVID-19 vaccine
in the country until further orders, Reuters partner ANI reported on
Friday. 
    • India passenger vehicle sales up 14% in August -industry body
    Total passenger vehicle sales in India rose 14.16% in August, showing some
signs of economic recovery as industries restart operations months after a
coronavirus-led lockdown disrupted a sector already hit by poor demand.

    • Five Indian nationals detained in China handed over - Indian army 
    Five Indian nationals from a remote eastern state who had been detained by
Chinese authorities in a region bordering Tibet were handed over to Indian
authorities on Saturday, the Indian army said. 
    
    
    GLOBAL TOP NEWS
    • ByteDance drops TikTok's U.S. sale, to partner with Oracle -sources
    ByteDance abandoned the sale of TikTok in the United States on Sunday in
pursuit of a partnership with Oracle that it hopes will spare it a U.S. ban
while appeasing China's government, people familiar with the matter told
Reuters. 
    • SoftBank sells chip designer Arm to Nvidia in $40 billion deal
    SoftBank said it has agreed to sell chip designer Arm to Nvidia for as much
as $40 billion in a deal set to reshape the semiconductor landscape.
 
    • Japan's Suga poised to win party race, headed for premiership
    Japanese Chief Cabinet Secretary Yoshihide Suga, a longtime loyal aide of
outgoing Prime Minister Shinzo Abe, was poised to win a ruling party leadership
election, virtually ensuring that he replaces Abe this week in the nation's top
job. 
    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • SGX Nifty nearest-month futures were trading 0.2% higher at 11,493.50. 
    • The Indian rupee is expected to trade higher against the dollar tracking
firm risk appetite amid constructive cues on the coronavirus vaccine. 
   • India's federal government bond yields are likely to trade largely
unchanged ahead of inflation data for August due later today. The yield on the
benchmark 5.77% bond maturing in 2030 is likely to trade in a range of
6.01%-6.06%. 
    
    
    GLOBAL MARKETS
    • The Nasdaq slid and the S&P 500 closed little changed on Friday as early
gains in technology and growth names faded, with each of the three major Wall
Street averages posting their second straight weekly decline.
    • Asian shares firmed on renewed hopes for a coronavirus vaccine after
AstraZeneca resumed its phase-3 trial though sentiment was still cautious ahead
of a big week of central bank meetings in UK, Japan and the United
States.
    • The British pound flirted with a 1-1/2-month low against the dollar on
fears about no-deal Brexit while investors waited for Japan's ruling party to
choose a successor to Prime Minister Shinzo Abe.
    • Bond yields fell on Friday after the U.S. Treasury on Thursday completed
$108 billion in supply this week, and as investors remained doubtful that
inflation will increase much even as consumer prices rose more than expected in
August.
    • Oil prices were mixed with U.S. crude rising as a tropical storm in the
Gulf of Mexico forced rigs to shut down, but the gains were kept in check by
wider concerns about excess supply and falling demand for fuels.
    • Gold prices were flat as investors maintained a cautious approach ahead of
U.S. Federal Reserve's monetary policy decision this week and as optimism around
a potential COVID-19 vaccine lifted appetite for riskier assets.
    
    
                   CLOSE             FII INVESTMENTS  EQUITI  DEBT
                                                      ES      
 PNDF spot         73.52/73.55       September 11     920.16  16.91 crores
                                                      crores  
 10-yr bond yield  6.04%             Month-to-date    (3,510  1,422 crores
                                                      )       
                                                      crores  
                                     Year-to-date     32,620  (1,11,323) crores
                                                      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 = 73.48 Indian rupees)
    
    

 (Compiled by Priyanka Das in Bengaluru)
  
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