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 9:00 am: Monsoon session of Parliament continues in New Delhi. 10:00 am: Angel Broking IPO opens for subscription. 10:00 am: Power Ministry’s Joint Secretary Ghanshyam Prasad, NITI Aayog CEO Amitabh Kant, International Solar Alliance’s Director General Upendra Tripathy are scheduled to participate in India Energy Storage Alliance’s virtual World Energy Storage Day summit. 11:00 am: Housing Ministry’s Joint Secretary D. Thara, Jal Shakti Ministry’s Secretary Upendra Prasad Singh will be part of ETEnergyworld.com’s virtual conference on “Drinking Water Supply and Distribution in India.” 11:00 am: Axis Bank Chief Executive and Managing Director Amitabh Chaudhry, Bandhan Bank Chief Executive and Managing Director Chandra Shekhar Ghosh will be at AIMA’s National Management Convention. 11:00 am: Ducati India’s online launch of the Scrambler 1100 PRO motorcycle. 11:00 am: Power Grid Corp is scheduled to hold its annual general meeting. 11:30 am: GAIL is scheduled to hold its annual general meeting. 12:15 pm: JK Tyre is scheduled to hold its annual general meeting. 3:00 pm: PTC India is scheduled to hold its annual general meeting. 3:00 pm: Mahindra Finance Vice Chairman and Managing Director Ramesh Iyer is scheduled to a virtual media analyst meet. 4:00 pm: Balrampur Chini Mills is scheduled to hold its annual general meeting. INDIA TOP NEWS • India's August crude imports continue slide as economy stalls India's crude oil imports declined in August, albeit at a slower pace, as soaring coronavirus cases continued to hit mobility and slowed economic recovery, government data showed on Monday. • India's government bonds miss out on J.P. Morgan index inclusion J.P. Morgan has opted not to include India's government bonds in one of its flagship emerging market indexes after investors cited ongoing problems with capital controls, custody and settlement and other operational snags. • Indian Oil Corp reviews refinery expansion plans Indian Oil Corp, the country's largest refiner, is reviewing its refinery expansion plans because of a gradual rise in use of cleaner fuels and changing demand patterns in Asia's third-largest economy, its chairman said. • Taj Mahal gets first visitors as coronavirus infections climb India reopened the Taj Mahal after six months on Monday, with the first visitors trickling into the famous monument as authorities reported 86,961 new coronavirus infections across the country, with no signs of a peak yet. • Dairy firm Kwality Ltd under investigation for alleged $190 million fraud India's federal police on Monday said they had registered a case against dairy company Kwality and its directors for allegedly cheating a consortium of banks of around $190 million. GLOBAL TOP NEWS • Beijing unlikely to approve ByteDance's TikTok deal with Oracle -Global Times A deal China's ByteDance has struck with Oracle and Walmart over the future of its video-streaming app TikTok is unlikely to receive Chinese government approval, state-backed newspaper Global Times said in an editorial. • Trump to name Supreme Court pick by Saturday as Democratic hopes of blocking nomination dim President Donald Trump raced on Monday to cement a conservative majority on the U.S. Supreme Court before the Nov. 3 election, telling reporters he planned by Saturday to reveal his pick to succeed liberal icon Ruth Bader Ginsburg. • Global banks seek to contain damage over $2 trillion of suspicious transfers Global banks faced a fresh scandal about dirty money on Monday as they sought to limit the fallout from a cache of leaked documents showing they transferred more than $2 trillion in suspect funds over nearly two decades. LOCAL MARKETS OUTLOOK (As reported by NewsRise) • SGX Nifty nearest-month futures were trading 0.6% higher at 11,291.20. • The Indian rupee is expected to open lower against the U.S. currency, tracking broad dollar strength amid worries that new restrictions in Europe to contain the surging coronavirus infections will weigh on the fragile economic recovery. • Indian government bond yields are expected to edge higher in early session ahead of a fresh supply via state papers today. A Reuters report that JP Morgan will not include Indian federal bonds in one of its emerging market indices may also cause yields to rise. The yield on the benchmark 5.77% bond maturing in 2030 is likely to trade in a 6.00%-6.06% range. GLOBAL MARKETS • Wall Street's main indexes closed lower on Monday as concerns about new lockdowns in Europe and possible delays in fresh stimulus from Congress raised fears the U.S. economy faces a longer road to recovery than previously hoped for. • Asian shares opened weaker on concerns about new pandemic lockdowns in Europe and after reports about financial institutions allegedly moving illicit funds hurt global banking stocks. • A resurgent dollar held on to overnight gains after virus fears and worries about U.S. stimulus drove a wave of selling in just about everything else. • Oil rose, paring sharp overnight losses, as the latest tropical storm in the Gulf of Mexico lost strength, but worries about fuel demand persisted with flare-ups around the globe in coronavirus cases. • Gold prices inched up after slumping in the previous session, as the resurgent dollar held on to overnight gains, while economic concerns over fresh rounds of coronavirus-induced lockdowns across Europe also helped buoy the metal. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 73.42/73.45 September 21 1,823.94 crores 340.54 crores 10-yr bond yield 6.016% Month-to-date 3,590 crores 2,400 crores Year-to-date 39,720 crores (110,345) 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 = 73.57 Indian rupees) (Compiled by Yoganand KN in Bengaluru)
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