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Morning News Call - India, September 21

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    FACTORS TO WATCH
    9:00 am: Monsoon session of Parliament continues in New Delhi.
    9:15 am: Route Mobile lists on exchanges in Mumbai.
    10:00 am: Computer Age Management Services IPO opens for subscription.
    10:00 am: Chemcon Speciality Chemicals IPO opens for subscription.
    11:00 am: Bajaj Consumer Care is scheduled to hold its annual general
meeting. 
    11:00 am: Aarti Industries is scheduled to hold its annual general meeting. 
    2:30 pm: Indian Oil Corp is scheduled to hold its annual general meeting. 
    3:00 pm: Titan Chief Financial Officer Subramaniam S, Cadila Healthcare
Finance Chief Nitin Parekh and Adani Enterprises Group CFO Jugeshinder Singh are
scheduled to participate in ASSOCHAM’s virtual conference on “Building a
Resilient & Consumption Based Finance Operations.”

    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 at 09:30
am IST, click here here
    
    
    INDIA TOP NEWS
    • India passes farm bills amid protest from opposition parties
India's parliament on Sunday passed new bills the government says will make it
easier for farmers to sell their produce directly to big buyers, despite growing
protest from opposition parties and a long-time ally of the ruling party.

    • India's coronavirus infections surge to 5.4 million
India's coronavirus case tally surged to 5.4 million as it added 92,605 new
infections in the last 24 hours, data from the federal health ministry showed on
Sunday.
    • Paytm app back on Google store after removal over policy violations
Digital payments firm Paytm on Friday said its mobile app was back on Google's
android store after the U.S. tech giant kept it offline for several hours,
citing the SoftBank-backed company's violations of its gambling policy.

    • India's Nobel laureate fears upsurge in child labour as pandemic shrivels
economy
For four decades Indian Nobel peace laureate Kailash Satyarthi rescued thousands
of children from the scourge of slavery and trafficking but he fears all his
efforts could reverse as the coronavirus pandemic forces children into labour.

    • India to ask foreign firms to source more local materials for govt
projects
India will demand foreign firms use more locally produced materials when working
on government-run projects, a government order said late on Friday.
    • At least eight dead in Mumbai building collapse, several feared trapped
A three-storey residential building on the outskirts of Mumbai collapsed killing
at least eight people, local reports said.
    
    
    GLOBAL TOP NEWS
    China's ByteDance says TikTok will be its subsidiary under deal with Trump
China's ByteDance said that TikTok's global business will become its subsidiary,
even as Oracle and Walmart said over the weekend that they and U.S. investors
would own the majority of the video app following a deal with U.S. President
Donald Trump's administration.
    • 'FinCEN' documents reportedly show banks moved illicit funds -BuzzFeed,
ICIJ
Several global banks moved large sums of allegedly illicit funds over a period
of nearly two decades, despite red flags about the origins of the money,
BuzzFeed and other media reported on Sunday, citing confidential documents
submitted by banks to the U.S. government.
    • U.S. to slap sanctions on over two dozen targets tied to Iran arms
The United States will sanction more than two dozen people and entities involved
in Iran's nuclear, missile and conventional arms programs, a senior U.S.
official said, putting teeth behind U.N. sanctions on Tehran that Washington
argues have resumed despite the opposition of allies and adversaries.

    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • SGX Nifty nearest-month futures were trading 0.3% lower at 11,491.20.
    • The Indian rupee is expected to open lower against the dollar amid tepid
risk appetite across Asia after U.S. equities posted their third weekly decline.
    • Indian government bond yields are expected to edge higher ahead of a fresh
supply of papers at a debt switch auction today. The yield on the benchmark
5.77% bond maturing in 2030 is likely to trade in a range of 6.00%-6.05%.
    
    
    GLOBAL MARKETS
    • U.S. stocks fell on Friday as technology shares sold off for a third day
in a row, while all three major U.S. indexes posted a third straight week of
declines.
    • Asian shares held tight ranges as investors awaited developments on U.S.
fiscal stimulus and coronavirus vaccines amid a resurgence of infections in
Europe.
    • The dollar clung to late-week gains, while the yen and yuan each edged
higher, as investors looked ahead to a slew of U.S. Federal Reserve speakers
this week and to a decision on the inclusion of Chinese government bonds in a
global index.
    • U.S. Treasury yields stabilized within their recent trading ranges on
Friday as investors took in new inflation-tolerant messages from the Federal
Reserve.
    • Oil prices edged higher as a tropical storm took aim for the U.S. Gulf of
Mexico region halting some production, though price gains were capped by the
potential return of oil output in Libya and a continued rise in coronavirus
cases.
    • Gold prices edged higher, propped up by a softer dollar while fresh
coronavirus-induced curbs globally dented hopes of a swift economic recovery,
with investor focus on speeches by Federal Reserve policymakers due this week.

    
    
                   CLOSE        FII INVESTMENTS  EQUITIES         DEBT
 PNDF spot         73.44/73.47  September 18     (131.25) crores  (267.72) crores
 10-yr bond yield  6.014 %      Month-to-date    1,766 crores     2,059 crores
                                Year-to-date     37,896 crores    (110,686) 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 = 73.53 Indian rupees)
 

 (Compiled by Yoganand KN in Bengaluru)
  
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