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MORNING NEWS CALL
FACTORS TO WATCH
9:30 am: Junior Agriculture Minister Gajendra Singh Shekhawat to address ‘Accelerating Agriculture Insurance’ event
in New Delhi.
10:00 am: KKR Managing Director Sanjay Nayyar, AppDynamics MD & CEO Jyoti Bansal and other industry officials
at TiE Global Summit in Mumbai.
10:00 am: Raymond Director- Retail Mohit Dhanjal, TBZ Chief Human Resource Officer Monica Bhandari and other
retail industry officials at Retail Leadership Summit in Mumbai.
3:30 pm: Bank of Baroda Chairman Ravi Venkatesan at BMA Corporate Leadership Awards function in Mumbai.
4:00 pm: Law & Information Technology Minister Ravi Shankar Prasad to sign India-Canada joint declaration of intent
for co-operation in information technology and cyber space in New Delhi.
LIVECHAT - ASSET CLASSES IN BUBBLE?
Market players seem to be divided on the quality of the equity rally in 2017. While most believe that it's growth and
fundamentals based, a select few disagree and call it a bubble. Jesse Colombo, Economic Analyst and Contributing
Editor (Forbes) is among those. We seek to understand why he thinks a bubble exists and what are the ways (if any) to
take pre-emptive action. To join the conversation at 0930 IST, click here
INDIA TOP NEWS
Jaitley slams oversight lapses amid huge bank fraud probe
Finance Minister decried a "lack of ethics" among sections of Indian business on Tuesday and criticised inadequate
oversight by auditors and regulators, after the financial sector was rocked by a $1.8 billion fraud at a state-run bank.
Canada's PM says India trip about broader ties not just political ones
Canadian Prime Minister Justin Trudeau downplayed talk of a snub by the Indian government on his first state visit to
the country this week, and cast his trip as being focused on building business and cultural ties and not just political
ones.
India to allow private firms to mine coal for commercial use
India will auction coal blocks to private companies, Coal Minister Piyush Goyal said on Tuesday, a move that would end
restrictions on the sale and use of the fuel after more than four decades and end Coal India's near-monopoly status.
Indian software services sector to grow 7-9 pct in FY19 - lobby group
India's software services exports will see revenue growth of 7-9 percent in constant currency terms in the fiscal year to
March 2019, a leading lobby group forecast on Tuesday, as the industry continues to recover from what has been a
tough year.
GLOBAL TOP STORIES
Mueller ups pressure on Trump campaign aides with new charge
U.S. Special Counsel Robert Mueller on Tuesday stepped up pressure on two former Trump campaign aides to
cooperate in his probe into possible collusion with Russia, unsealing a criminal charge against a lawyer for lying to
Mueller's investigators.
REUTERS INDIA EDITION Wednesday, February 21, 2018
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MORNING NEWS CALL - INDIA EDITION February 21, 2018
GM offers $2.8 billion investment in S.Korea over 10 yrs - S.Korea official
General Motors has proposed $2.8 billion of fresh investment into its South Korean operations over the 10 years as part
of its plan to restructure the embattled unit, a South Korean senior government official said.
Qualcomm deals blow to Broadcom's bid with sweetened NXP deal
U.S. semiconductor company Qualcomm Inc on Tuesday unveiled a sweetened $44 billion agreement to acquire NXP
Semiconductors NV, its most defiant move in its defense against a hostile $121 billion bid from Broadcom Ltd.
STATE OF THE MARKETS
The SGX Nifty Futures were trading at 10,379.50, up 0.49 pct from its previous close.
The Indian rupee will likely open lower against the dollar, tracking overnight greenback strength underpinned by gains
in U.S. Treasury yields ahead of the release of the Federal Reserve’s latest policy meeting minutes due post market
hours. -Newsrise
Indian government bonds are likely to fall in early trade tracking firm U.S. yields and ahead of the release of India’s
latest monetary policy minutes. -Newsrise
The Dow and S&P 500 fell on Tuesday to snap a six-session winning streak as a sharp decline in Walmart weighed
heavily, but gains in Amazon and chip stocks helped the Nasdaq hold near the unchanged mark.
Stock markets dipped after a long winning run on Wall Street ended overnight, while the dollar gained momentum as
yields on U.S. Treasury debt headed for highs not seen in four years.
Oil prices fell; weighed down as the U.S. dollar moved further away from three-year lows hit last week.
Gold extended its fall as the dollar remained strong on rising treasury yields, while investors awaited the minutes of the
U.S. Federal Reserve's last policy meeting for cues on the pace of interest rate hikes this year.
CLOSE FII INVESTMENTS EQUITIES DEBT
PNDF spot 64.77/64.80 February 20 -$131.07 mln $60.04 mln
10-yr bond yield 7.7 pct Month-to-date - $400.74 mln
Year-to-date - $1.87 bln
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MORNING NEWS CALL - INDIA EDITION Mmm dd 2018
PICTURE OF THE DAY
Canadian Prime Minister Justin Trudeau, his wife Sophie Gregoire Trudeau, their daughter Ella Grace and son Xavier pose with Bollywood actor Shah Rukh Khan in Mumbai, India February 20. REUTERS/Danish Siddiqui
(Compiled by Erum Khaled in Bengaluru) For questions or comments about this report, contact: [email protected] For more information about our products: https://www.thomsonreuters.com/en/products-services.html Or send us a sales enquiry at: https://www.thomsonreuters.com/en/contact-us.html or call us on North America: +1 800 758 5555 To subscribe for the India Morning Newscall newsletter click here You may instruct us to remove you from Morning News Call by clicking on the link - https://forms.thomsonreuters.com/india-morning/Unsubscribe/
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MORNING NEWS CALL - INDIA EDITION February 21, 2018