Morning News Call – India, January 6 – Reuters India

By Reuters Staff
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FACTORS TO WATCH
4:00 pm: Commerce Minister Piyush Goyal at DPIIT webinar on promoting
quality and productivity in Indian industry.
PROMOTION
LIVECHAT – REUTERS GLOBAL MARKETS FORUM
Reuters markets correspondents in London and New York discuss what’s on the
cards for equities in 2021. To join the conversation at 7:30 p.m. IST, click
here refini.tv/2P8N0Wp
INDIA TOP NEWS
India readies roll-out of COVID-19 vaccines for 300 million people
India is set to roll out a COVID-19 vaccination programme by next week,
aiming to cover 300 million people by July, its top health official said in what
would be one of the world’s largest inoculation drives against the coronavirus.
Indian vaccine makers end spat, pledge ‘smooth rollout’ of COVID-19 shots
Serum Institute of India and Bharat Biotech said on Tuesday they would end a
public spat and focus on rolling out COVID-19 shots after executives of both
Indian vaccine makers clashed over the approval of their rival shots.
Warburg Pincus invests $100 million in Indian consumer electronics firm
boAt
U.S. private equity firm Warburg Pincus has invested about $100 million in
India’s boAt, the consumer electronics firm said.
India working on plan to develop coastal regions, says PM
Indian Prime Minister Narendra Modi said the nation was working on a plan to
develop its coastal regions that will include efforts to boost fisheries and
seaweed exports.
GLOBAL TOP NEWS
Too close to call two Georgia Senate races that will decide fate of
Biden’s agenda
Tight contests were developing on Tuesday in two U.S. Senate races in
Georgia that will decide which party controls the chamber and with it the power
to advance or block Democratic President-elect Joe Biden’s policy goals.
Trump bars U.S. transactions with eight Chinese apps including Alipay
U.S. President Donald Trump on Tuesday signed an executive order banning
transactions with eight Chinese software applications, including Ant Group’s
Alipay, the White House said, escalating tensions with Beijing just over two
weeks before President-elect Joe Biden takes office.
Saudi vows extra cuts as OPEC+ agrees small rise in oil output
Saudi Arabia pledged additional, voluntary oil output cuts of one million
barrels per day (bpd) in February and March as part of a deal under which most
OPEC+ producers will hold production steady in the face of new coronavirus
lockdowns.
LOCAL MARKETS OUTLOOK
(As reported by NewsRise)
SGX Nifty nearest-month futures were inched lower to 14,220.50.
The Indian rupee is expected to open little changed against the dollar
amid a decline on the S&P 500 Index futures on possibility that the U.S.
Democratic Party may wrest control of the Senate.
Indian federal government bond yields will likely open higher, tracking an
uptick in U.S. Treasury yields ahead of an outcome in the crucial Georgia
elections and crude oil prices. The yield on the benchmark 5.77% 2030 bond is
likely to trade in a 5.83%-5.88% band.
GLOBAL MARKETS
Shares on Wall Street ended higher on Tuesday in choppy trading, as
investors took advantage of the previous session’s slump to buy them back, ahead
of the outcome of the Senate runoff elections in the battleground state of
Georgia, which will determine the balance of power in Washington.
Global stock prices slipped as investors braced for the prospect that
Democrats could win both races in a U.S. Senate run-off election in Georgia,
handing them control of the crucial chamber.
The U.S. dollar steadied in Asia as traders looked to the outcome of a
Senate election in Georgia to drive the next move in market sentiment.
Yields on U.S. 10-year Treasury notes hit their highest since March in
Asian trading as investors hedged against the risk of more U.S. fiscal spending
and borrowing should Democrats win two crucial Senate seats.
Brent oil prices rose to the highest since February after Saudi Arabia
agreed to make bigger cuts in output than expected during a meeting with allied
producers, while industry data showed U.S. crude stockpiles fell last week.
Gold was little changed in choppy trading, as markets awaited the outcome
of the U.S. Senate runoff elections in Georgia that will likely shape fiscal
policy in the President-elect Joe Biden administration.
CLOSE FII INVESTMENTS EQUITIES DEBT
PNDF spot 73.24/73.27 January 5 2,758.66 crores 1,035.79 crores
10-yr bond yield 5.85% Month-to-date 4,555 crores 1,940 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 = 73.17 Indian rupees)
(Compiled by Sourav Bose)read more