Morning News Call – India, February 16

To access a PDF version of this newsletter, please click here https://share.refinitiv.com/assets/newsletters/Indiamorning/MNC_IN_02162022.pdf If you would like to receive this newsletter via email, please register at: https://solutions.refinitiv.com/MNCIndiaSubscriptionpage FACTORS TO WATCH • 9:15 am: Vedant Fashions lists on stock exchanges. • 10:00 am: Tata Chemicals Managing Director and Chief Executive R. Mukundan, Bank of America President and Country Head (India) Kaku Nakhate at CII Directors Guild 2022. • 10:00 am: Minister of State for Skill Development Minster Rajeev Chandrasekhar, Infosys Chief Executive Salil Parekh, Wipro Managing Director and Chief Executive Thierry Delaporte, Tech Mahindra Managing Director and Chief Executive C.P. Gurnani, Niti Aayog Chief Executive Officer Amitabh Kant at Nasscom Technology and Leadership forum. • 1:00 pm: Vedanta Group Chief Executive Officer Sunil Duggal, Adani Power Managing Director Anil Sardana at TERI World Sustainable Development summit. • 2:30 pm: Power Minister R.K. Singh at an event on energy transition followed by a press briefing. • 6:00 pm: Prime Minister Narendra Modi at TERI World Sustainable Development summit. PROMOTION LIVECHAT-REUTERS GLOBAL MARKETS FORUM Patrick Reid, co-founder of the Adamis principle, earlier derivatives trader at Europe’s largest prop desk TTG, will discuss his outlook on currency markets, as tensions in Eastern Europe escalate, and central bank policy worried remain at the forefront, with Fed officials continuing to spar over how aggressively to begin interest rate hikes and the BOJ saying it would “not frequently” step in to buy government bonds. To join the conversation at 12:30 pm IST, click here https://www.refinitiv.com/en/products/refinitiv-messenger/global-markets-forum INDIA TOP NEWS • India adds 54 more Chinese apps to ban list; Sea says it complies with laws India has blocked access to 54 mobile apps, mainly Chinese but also including Singapore-based Sea Ltd’s “Free Fire” mobile game, over security concerns, government sources said on Tuesday. • India’s hijab dispute reaches its most populous state A dispute over restrictions on the wearing of the hijab by female students in a southern Indian state has now reached India’s most populous state of Uttar Pradesh, with a group of youngsters asking a college to ban the head covering. • Indian police arrest three who targeted men on gay dating app Indian police said on Tuesday they had arrested three members of a gang they accused of beating up and robbing men contacted through the use of a gay dating app. • Indian non-power coal users claim coal shortage; govt denies India’s aluminium smelters, textile mills, sponge iron and fertiliser-makers say they face a coal shortage as power generators take the bulk of supplies. GLOBAL TOP NEWS • Ukraine hit by cyber attack as U.S. questions Russian troop pullback Kyiv appeared to blame Russia for a cyber attack on Tuesday as U.S. President Joe Biden warned that more than 150,000 Russian troops were still amassed near Ukraine’s borders after Moscow’s announcement of a partial pullback was met with scepticism. • China’s factory inflation hits 6-month low on government curbs China’s factory-gate inflation cooled to its slowest pace in six months in January, official data showed, as government measures to control surging raw material costs weighed on producer prices. • ViacomCBS changes name to Paramount to boost streaming future ViacomCBS Inc missed Wall Street profit forecasts on Tuesday as the company announced it will change its name to Paramount and unveiled a broad range of new programming in the battle for viewers in the crowded streaming market. LOCAL MARKETS OUTLOOK (As reported by NewsRise) • SGX Nifty nearest-month futures 0.2% higher at 17,380.50. • The rupee is expected to strengthen against the dollar today, tracking a broad uptick in Asian currencies and a pullback in crude oil prices on hopes that a conflict will be avoided in eastern Europe. • Indian sovereign bond yields are likely to trade little changed today as investors focus on crude oil prices and U.S. Treasuries. The yield on the benchmark 6.54% bond maturing in 2032 is likely to trade in the 6.64%-6.69% band. GLOBAL MARKETS • Wall Street ended sharply higher on Tuesday, as signs of de-escalating tensions along the Russia-Ukraine border sparked a risk-on session. • Asian shares rallied as fears of a Russian invasion of the Ukraine this week dissipated after Moscow indicated it was returning some troops to base from exercises, delivering investors a measure of relief. • The euro held on to overnight gains in Asian trade having jumped on reports that some Russian forces had moved away from the Ukraine border, though, with tensions still elevated, the common currency failed to make further progress. • Benchmark U.S. 10-year Treasury yields rose on Tuesday after Russia said it was moving some troops away from the Ukrainian border, boosting risk-taking in financial markets. • Oil pared some losses in Asian trading after an over 3% fall the previous day, as investors weighed an easing Russia-Ukraine tension against overall tight global supplies. • Gold prices slipped, pulling further away from an eight-month peak scaled in the previous session, as signs of a slight de-escalation in the Russia-Ukraine standoff diminished the appeal of safe havens. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 75.3/75.33 Feb. 15 (3,144.31) crores 316.78 crores 10-yr bond yield 6.673% Month-to-date (12,873) crores (2,347) crores Year-to-date (46,176) crores 2,847 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 = 75.22 Indian rupees) (Compiled by Archak Sengupta)