Morning News Call - India, January 19

To access a PDF version of this newsletter, please click here https://share.refinitiv.com/assets/newsletters/Indiamorning/MNC_IN_01192022.pdf If you would like to receive this newsletter via email, please register at: https://solutions.refinitiv.com/MNCIndiaSubscriptionpage FACTORS TO WATCH • 10:00 am: AGS Transact Technologies IPO opens for subscription in Mumbai. • 11:30 am: Tata Motors to launch a range of cars running on compressed natural gas. • 12 noon: Kotak Mahindra Bank Managing Director and Chief Executive Uday Kotak, Nestle (India) Chairman and Managing Director Suresh Narayanan and Nykaa Chief Executive Falguni Nayar at IiAS webinar on startups. • 3:00 pm: Tata Elxsi management at Q3 analyst call. • 5:30 pm: JSW Energy management at Q3 analyst call. • 5:45 pm: ICICI Lombard General Insurance management at Q3 conference call. • 6:00 pm: Just Dial management at Q3 analyst call. • 8:00 pm: Larsen & Toubro Infotech management at Q3 analyst call. PROMOTION LIVECHAT-REUTERS GLOBAL MARKETS FORUM Reuters equities correspondents in London and New York examine how a busy corporate earnings week is playing out on bourses on both sides of the Atlantic. To join the conversation at 8:30 pm IST, click here https://www.refinitiv.com/en/products/refinitiv-messenger/global-markets-forum?utm_source=Eloqua&utm_medium=email&utm_campaign=00013PM_IndiaMorningNewsletter_Other&utm_content=MNCIN_011922 INDIA TOP NEWS • Reliance joins calls for India to tighten marketplace rules Reliance has called for tighter regulation of marketplace e-commerce platforms to ensure such websites treat all sellers equally, four sources told Reuters. • India to oppose international arbitration awards to Devas after court ruling - finmin India's government will oppose international award granted to the Bengaluru-based Devas Multimedia Ltd, after the country's Supreme Court upheld the National Company Law Appellate Tribunal's (NCLAT) order to wind up the company. • India offers $500 million fuel credit line to forex strapped Sri Lanka India offered a new $500 million credit line to Sri Lanka to fund fuel purchases, the Indian High Commission in Colombo said on Tuesday, as the island struggles to manage its worst financial crisis in years. GLOBAL TOP NEWS • Microsoft to gobble up Activision in $69 billion metaverse bet Microsoft is buying "Call of Duty" maker Activision Blizzard for $68.7 billion in the biggest gaming industry deal in history as global technology giants stake their claims to a virtual future. • U.S. examining Alibaba's cloud unit for national security risks The Biden administration is reviewing e-commerce giant Alibaba's cloud business to determine whether it poses a risk to U.S. national security, according to three people briefed on the matter, as the government ramps up scrutiny of Chinese technology companies' dealings with U.S. firms. • Airlines scramble to rejig schedules amid U.S. 5G rollout concerns Major international airlines rushed on Tuesday to rejig or cancel flights to the United States on the eve of a 5G wireless rollout that triggered safety concerns, despite two wireless carriers saying they will delay parts of the deployment. LOCAL MARKETS OUTLOOK (As reported by NewsRise) • SGX Nifty nearest-month futures were little changed at 18,134.50. • The Indian rupee is expected to weaken against the dollar today after U.S. equities tumbled on worries over the pace of Federal Reserve rate increases. • Indian sovereign bond yields are likely to rise today after a selloff in U.S. Treasuries even as crude oil prices soared to multi-year highs, stoking inflation concerns. The yield on the benchmark 6.10% bond maturing in 2031 is likely to trade in the 6.63%-6.68% band. GLOBAL MARKETS • Wall Street's main indexes fell sharply on Tuesday as weak results from Goldman Sachs weighed on financial stocks and tech shares continued their sell-off to start the year as U.S. Treasury yields rose to milestones.XX • Asia's share markets struggled as U.S. Treasury yields hit fresh two-year highs and a global technology stock sell-off unsettled investors worrying about inflation and bracing for tighter U.S. monetary policy. • The dollar was firm after a rip higher in U.S. yields vaulted it up sharply on the euro overnight, putting it back above support levels that have held for the past few months in anticipation of rising U.S. interest rates. • Oil prices rose for a fourth day to a seven-year high as an outage on a pipeline from Iraq to Turkey increased concerns about an already tight supply outlook amid worrisome geopolitical troubles in Russia and the United Arab Emirates. • Gold prices were flat, steadying near a one-week low hit in the previous session, as the U.S. Treasury yields strengthened to two-year highs on expectations of quicker interest rate hikes by the Federal Reserve. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 74.49/74.52 January 18 (243.60) crore 427.36 crore 10-yr bond yield 6.627% Month-to-date (962) crore 2,774 crore Year-to-date --- --- (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 = 74.60 Indian rupees) (Compiled by Ananya Roy)