Morning News Call – India, December 7 – Reuters India

By Reuters Staff
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FACTORS TO WATCH
1:00 pm: FICCI President Sangita Reddy is scheduled to address the virtual
press conference on ‘Growth Prospects & Budget Recommendations’.
LIVECHAT – REUTERS GLOBAL MARKETS FORUM
Mike Dolan, Reuters Editor at Large, Finance & Markets, takes a look at the
major themes and key events to watch in the week ahead. To join the conversation
at 3:30 pm IST, click on the link: refini.tv/2P8N0Wp
INDIA TOP NEWS
India’s Serum Institute seeks emergency use nod for AstraZeneca’s COVID-19
vaccine – local media
Serum Institute of India, the world’s largest vaccine producer by volume,
has sought emergency use authorization in the country for AstraZeneca’s COVID-19
vaccine on Sunday, according to several reports in Indian media, citing PTI.
Thousands protest in London against India’s farming reforms
Thousands of people protested and blocked traffic in central London on
Sunday over Indian agricultural reforms that have triggered mass demonstrations
in India, and police made 13 arrests over breaches of COVID regulations.
Pfizer has sought emergency approval for COVID-19 vaccine in India -govt
adviser
Pfizer has applied for emergency use authorisation of its coronavirus
vaccine in India, a top government health adviser said in a TV interview on
Sunday, the first to do so in a country with the world’s second-highest number
of infections.
Investors scramble for bite of Burger King India IPO with $9.5 billion of
bids
Burger King India’s initial public offering drew bids of $9.5 billion, or
more than 150 times the shares on offer, signalling investors were upbeat about
the country’s food service sector despite a slowdown inflicted by the COVID-19
pandemic.
RBI holds rates, says will ensure ample liquidity
The Reserve Bank of India (RBI) kept its key interest rates steady as widely
expected on Friday amid persistently high inflation but said it will ensure
ample liquidity is provided to stressed sectors to keep a nascent economic
recovery on track.
India records 36,595 new coronavirus cases
India’s daily coronavirus cases rose by less than 40,000 for the fifth
straight day, health ministry data showed on Friday, with 36,595 new infections
reported in the last 24 hours.
GLOBAL TOP NEWS
U.S. preparing new sanctions on Chinese officials over Hong Kong crackdown
– sources
The United States is preparing to impose sanctions on at least a dozen
Chinese officials over their alleged role in Beijing’s disqualification of
elected opposition legislators in Hong Kong, according to three sources,
including a U.S. official familiar with the matter.
Britain gets ready for rollout of Pfizer’s COVID-19 vaccine this week
Britain is preparing to become the first country to roll out the
Pfizer/BioNTech COVID-19 vaccine this week, initially making the shot available
at hospitals before distributing stocks to doctors’ clinics, the government said
on Sunday.
Biden transition, U.S. coronavirus vaccine teams to meet amid surge,
distribution questions
The chief adviser for U.S. efforts to develop a coronavirus vaccine said on
Sunday he planned to meet with President-elect Joe Biden’s team this week to
discuss the program before the expected first round of vaccinations this month.
LOCAL MARKETS OUTLOOK
(As reported by NewsRise)
SGX Nifty nearest-month futures were trading 0.4% lower at 13,274.00.
The Indian rupee is expected to trade little changed to the U.S. currency
amid dollar index hovering near more than two-year lows and a pullback in Asian
equities.
India bond yields are likely to edge lower in early trade, as the central
bank said last week it will maintain adequate banking system liquidity and
conduct open market operations. The yield on the benchmark 5.77% bond maturing
in 2030 is likely to trade in a 5.86%-5.92% band.
GLOBAL MARKETS
Wall Street’s main indexes rose to all-time highs on Friday as data
showing the slowest U.S. jobs growth in six months raised investors’
expectations for a new fiscal relief bill to help revive the coronavirus-hit
economy.
Asian shares retreated from a record peak after a Reuters report the
United States was preparing to impose sanctions on some Chinese officials
highlighted geopolitical tensions, while oil prices fell on surging virus cases.
The dollar started the week on the back foot after soft U.S. jobs data
only solidified expectations of a fresh economic package, while the British
pound eyed last-ditch trade talks between the United Kingdom and European Union.
U.S. Treasury yields shot higher and the yield curve steepened on Friday
after a disappointing November employment report added to pressure for
Washington to pass a new round of stimulus to help the coronavirus-battered
economy.
Oil prices fell as a continued surge in coronavirus globally forced a
series of renewed lockdowns, including strict new measures in Southern
California.
Gold prices were little changed in early Asian trade, as hopes of a U.S.
fiscal stimulus package being passed this week countered downward pressure from
optimism around COVID-19 vaccines roll-outs.
CLOSE FII INVESTMENTS EQUITIES DEBT
PNDF spot 73.75/73.78 December 4 3,685.73 2,779.02 crores
crores
10-yr bond yield 5.89% Month-to-date 17,926.82 11,463.07 crores
crores
Year-to-date 1,24,766 (1,07,578) crores
crores
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 = 73.71 Indian rupees)
(Compiled by Priyanka Das in Bengaluru)read more