Sept 4 (Reuters) - 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 4:30 pm: Finance Secretary Ajay Bhushan Pandey will participate in FICCI-ET Markets webinar on ‘transparent taxation.’ 4:30 pm: CBDT Chairman P.C. Mody and Income Tax Commissioner Ashish Kumar will participate in ASSOCHAM’s “International Tax Conference.” 5:30 pm: Finance Commission Chairman N.K. Singh to brief media post meeting with its economic advisory council in New Delhi. PROMOTION LIVECHAT - REUTERS GLOBAL MARKETS FORUM Anna Irrera, Reuters Financial Technology Correspondent, discusses innovations in banks' use of technology in terms of operations and trading, banks' outlook on blockchain technology and the path ahead as they aim to boost efficiency with tech. To join the conversation at 6:30 pm IST, click here. To join the conversation, click on the link: refini.tv/2P8N0Wp INDIA TOP NEWS • India's services activity shrinks for sixth month in August, job losses mount Activity in India's crippled services industry fell for a sixth straight month in August as coronavirus restrictions continued to hurt business operations and demand, causing the longest streak of job losses on record, an industry survey showed. • Silver Lake in talks to take $1 billion stake in Reliance Retail - FT Private equity firm Silver Lake Partners is in talks to invest $1 billion in the retail arm of Reliance Industries, the Financial Times reported on Thursday, citing people with direct knowledge of the matter. • India's Vodafone Idea says board has no proposal from Amazon, Verizon Vodafone Idea said on Thursday its board had no investment proposal to consider from U.S. wireless carrier Verizon Communications or Amazon.com. • U.S. to allow Indian air carriers to conduct ground handling operations The U.S. Transportation Department said Thursday it planned to restore the ability of Indian air carriers to conduct ground handling operations at U.S. airports. • Speedo looking into report of human rights violations at Indian partner Page Speedo International will investigate a report of possible human rights violations by its Indian partner Page Industries, which Norway's wealth fund dropped from its portfolio this week, the United Kingdom-based swimwear maker told Reuters. • Facebook bans Indian ruling party politician for policy violation Facebook has banned a member of India's ruling party for violating its policies covering violence and hate, as Mark Zuckerberg's company finds itself caught in a debate over how it handles political content in its biggest market. • Netflix India's "Bad Boy Billionaires" show on hold following court order The release of a Netflix series on four Indian tycoons facing fraud allegations has been put on hold following a state court order, two sources said on Thursday, in the latest legal tussle faced by the U.S. streaming giant in a key market. GLOBAL TOP NEWS • Japan's Suga jumps in popularity, tops favourability poll for next PM Japan's Chief Cabinet Secretary Yoshihide Suga is now the most preferred candidate among the public to become the next prime minister, surging in popularity after he entered his party's leadership race, an Asahi Shimbun survey showed. • UN experts decry Hong Kong security law in letter to China U.N. human rights experts have told China a new security law for Hong Kong "infringes on certain fundamental rights" and voiced concerns that it could be used to prosecute political activists in the former British colony. • UNICEF says drugmakers can produce unprecedented vaccine quantities for COVID-19 Unprecedented quantities of vaccines could be produced by 28 manufacturers in 10 countries over the next two years to tackle the COVID-19 pandemic, the U.N. children's agency UNICEF said on Thursday, as it announced it would help lead efforts to procure and distribute them. LOCAL MARKETS OUTLOOK (As reported by NewsRise) • SGX Nifty nearest-month futures were trading 1% lower at 11,435.50. • The Indian rupee is expected to trade little changed against the U.S. currency following an abrupt halt to the rally in equities. • India government bond yields are likely to trade largely unchanged in early session, ahead of a fresh supply of notes at a weekly debt auction today. The yield on the benchmark 5.77% bond maturing in 2030 is likely to trade in a range of 5.87%-5.93%. GLOBAL MARKETS • Wall Street's main indexes closed sharply lower on Thursday, marking their deepest one-day declines since June as investors dumped the high-flying technology sector, while economic data highlighted concerns about a long and difficult recovery. • Asia's stock markets slipped, following the steepest Wall Street selloff since June, while safer bonds and the dollar found support as investors sought shelter. • The dollar steadied against major currencies as traders awaited key U.S. jobs data that may cast doubt on the strength of economic recovery from the coronavirus outbreak. • U.S. Treasury yields fell as stocks plunged and the market awaited August employment data due out for the latest indication of how the coronavirus-hit economy is faring. • Oil prices slipped, on track for a weekly loss, as investors' focus shifted to lacklustre demand and ample fuel supplies, offsetting support from a weak dollar. • Gold prices rose as a slightly weaker U.S. dollar and a pullback in global equities lifted demand for the safe-haven metal, while investors awaited the release of U.S. non-farm payrolls data for August. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 73.47/73.5 September 3 1,227.71 crores (424.24) crores 10-yr 5.896% Month-to-date (556) crores (795) crores bond yield Year-to-date 35,574 crores (1,13,540) 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 = 73.44 Indian rupees) (Compiled by Pooja Kesavan in Bengaluru)
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