Morning News Call – India, October 16 – Reuters India

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INTERNATIONAL TOP NEWS
– In split-screen town halls, Trump and Biden squabble over coronavirus
action
Democratic presidential prospect Joe Biden on Thursday criticized what he
called President Donald Trumps “stressed” response to the coronavirus pandemic,
while Trump safeguarded his handling of a crisis that has eliminated more than 216,000
Americans.
– Trump advises big COVID-19 stimulus, McConnell disagrees as talks continue
President Donald Trump on Thursday stated he wants to raise his offer of
$ 1.8 trillion for a COVID-19 relief offer with Democrats in the U.S. Congress,
however the concept was shot down by his fellow Republican, Senate Majority Leader
Mitch McConnell.
– Vaccine cooperation, recovery could increase global income $9 tln by 2025-IMF
chief
Strong international cooperation on COVID-19 vaccines could speed up the
world economic recovery and add $9 trillion to worldwide income by 2025,
International Monetary Fund Managing Director Kristalina Georgieva said on
Thursday.

INDIA TOP NEWS
– India will not mandate secondary listings for companies signing up with overseas
markets, sources say
India has actually decided not to mandate secondary listings for domestic firms that
float shares on a foreign stock exchange as it prepares to reveal a new policy
within weeks, 2 senior federal government sources and two industry executives informed
Reuters.
– Bollywood stays away as Indian movie theaters reopen after 8 months
Motion picture theatres in some parts of India opened for the very first time in eight
months on Thursday, however with no significant Bollywood releases likely any time quickly,
beleaguered movie theater owners fret about whether audiences can be lured back to the
huge screen.
– Tata Group searching for stake in IPO-bound online grocer BigBasket – report
Salt-to-software corporation Tata Group is in talks with Indian online
grocery startup BigBasket to purchase a stake in the business, the Mint newspaper
reported, mentioning people acquainted with the matter.
– JLR to release electrical Jaguar I-PACE in India in early 2021
Jaguar Land Rover (JLR) prepares to release its electrical Jaguar I-PACE sedan in
India early next year, the car manufacturers country head told Reuters on Thursday, as
federal governments across the world push for more clean-energy lorries.
– India sends researchers to tackle winter air pollution troubles
Indian authorities sent out groups of scientists out to various parts of the
capital, New Delhi, and surrounding districts on Thursday to secure down on
prohibited factories and building and construction sites as part of efforts to fight intensifying
winter season air contamination.

FACTORS TO WATCH
9:30 am: SIAM to reveal monthly car industry sales data, followed by
virtual interview.
10:00 am: HCL Technologies virtual interview post 2Q revenues.
10:00 am: Agriculture Minister Narendra Singh Tomar at CIIs webinar on agro
and food innovation.
11:00 am: Petroleum Secretary Tarun Kapoor, GAIL (India) Marketing Director
E.S. Ranganathan at PHD Chamber of Commerces webinar on alternate fuel
technology for cars.
1:30 pm: Federal Bank Chief Executive and Managing Director Shyam Srinivasan
at a virtual press conference post 2Q profits.

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LOCAL MARKETS OUTLOOK
( As reported by NewsRise).
– SGX Nifty nearest-month futures were 0.7% greater at 11,759.00.
– The Indian rupee is anticipated to open lower tracking the dollars strength.
versus many Asian currencies. A likely rebound in Indian equities is.
anticipated to top the rupees losses, traders stated.
– Indian sovereign bond yields are likely to increase today, after the federal.
federal government raised its loaning prepare for the 2nd half of this financial. Bond.
yields might also move higher ahead of the financial obligation auction today, in which New Delhi.
strategies to raise at least 280 billion rupees. The benchmark 5.77% bond growing in.
2030 is most likely to trade in a 5.92% -5.98% band till the financial obligation auction today.

( FII investment numbers are in Indian rupees. Source: National Securities.
Depository Limited).

WORLDWIDE MARKETS.
– The S&P 500 ended lower on Thursday after a rise in weekly unemployed claims.
compounded worries about a stalling economic healing and fading expect more.
financial help prior to the election.
– Asian stocks edged higher, buoyed by gains in China, however the state of mind was.
cautious due to a revival of coronavirus infections in Europe and the United.
States.
– The dollar was headed for its finest week of the month, as rising.
coronavirus cases and stalled development towards U.S. stimulus had anxious.
financiers looking for safe assets.
– U.S. Treasury yields edged higher on Thursday, changing instructions after an.
earlier safe-haven rally sparked when out of work claims notched an unforeseen.
climb.
– Oil rates fell on concerns that significant producers will move ahead with.
plans to alleviate their supply cuts even as a spike in COVID-19 cases in Europe and.
the United States is reducing need in two of the worlds most significant fuel.
consuming regions.
– Gold rates inched lower, on track for its first weekly decrease in three,.
as the dollar held firm and U.S. stimulus talks showed no development.

For additional data:.
India govt bond market volumes.
Stock market reports.
Non-deliverable forwards information.
Corporate financial obligation stories [IN CORPD] Regional market closing/intraday levels [IN SNAPSHOT] Regular monthly inflows [INFLOWS RTRS TABLE IN]
($ 1= 73.42 Indian rupees).

( Compiled by Nachiket Tekawade in Bengaluru).

CLOSE FII INVESTMENTS EQUITIES DEBT.
PNDF area 73.36/ 73.39 October 15 1,149.13 (3.87) crores.
crores.
10-yr bond yield 5.898% Month-to-date 8,782 (878) crores.
crores.
Year-to-date 37,129 (1,09,665) crores.
crores.