MORNING NEWS CALL

FACTORS TO WATCH

9:30 am: Junior Finance Minister Shiv Pratap Shukla and Central Board of Direct Taxes Chairman Sushil Chandra at ASSOCHAM’s post-budget seminar in New Delhi. 9:45 am: Finance Secretary Hasmukh Adhia and other government officials at post-budget interaction with PHD Chamber members in New Delhi. 11:30 am: Transport Minister Nitin Gadkari at ‘Road Safety’ promotion event in New Delhi. LIVECHAT - FX MONTH AHEAD John Noonan, Head of IFR FX Watch Asia, analyses cues and views for market moves for the month ahead. To join the conversation at 0930 IST, click here

INDIA TOP NEWS

India to bar cryptocurrencies from its payments system -FinMin official India is planning steps to ensure cryptocurrencies are illegal within its payments system, while at the same time appointing a regulator to oversee unregulated exchanges that trade in "crypto assets," a finance ministry official said on Monday.

Tata Motors quarterly profit surges on Jaguar Land Rover sales

Tata Motors reported on Monday a surge in quarterly profit, driven by higher sales at its Jaguar Land Rover business after an exceptionally weak quarter a year earlier.

JSW Steel, Tata Steel among suitors for Bhushan Steel - sources

Steelmakers JSW Steel and Tata Steel have bid for Bhushan Steel & Power which is being pursued by creditors in bankruptcy court, three people familiar with the bidding process said on Monday.

Stronger orders drive India's Jan services growth to 3-month high-PMI Activity in India's services sector grew at the fastest pace in three months in January, underpinned by a recovery in new orders that prompted companies to sharply increase hiring, a private survey showed on Monday.

Thyssenkrupp steel workers back labour plan ahead of Tata deal Steel workers at Germany's Thyssenkrupp voted on Monday in favour of a labour agreement that will safeguard jobs and plants in a planned joint venture with Tata Steel until 2026, removing another key hurdle for the tie-up.

Shares in India's Airtel jump after Singtel lifts stake

Shares of India's biggest mobile carrier Bharti Airtel gained on Monday after Singapore Telecommunications said it was slightly increasing its stake in the holding company to nearly 50 percent.

GLOBAL TOP STORIES

U.S. Congress grapples with immigration, averting funding fight Legislation to help young "Dreamer" immigrants struggled to gain footing in the U.S. Congress on Monday, but there were no signs yet that failure to pass such a bill would trigger a rerun of January's three-day partial government shutdown.

Broadcom unveils $121 billion 'best and final' offer for Qualcomm

Broadcom made a $121 billion "best and final offer" on Monday to acquire Qualcomm Inc ratcheting up pressure on its U.S. semiconductor peer to engage in talks on what would be the biggest ever technology acquisition.

REUTERS INDIA EDITION Tuesday, February 6, 2018

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MORNING NEWS CALL - INDIA EDITION February 6, 2018

Bayer offers to sell businesses to win EU approval for Monsanto deal Bayer has offered to sell seeds and pesticides businesses to try to address EU competition concerns over its $63.5 billion bid for U.S. rival Monsanto.

STATE OF THE MARKETS

The SGX Nifty Futures were trading at 10,335.50, trading down 3.31 percent from its previous close. -NewsRise

The rupee will likely fall against the dollar in early trade, in line with Asian peers, as demand for the greenback surged on poor risk appetite amid another global equity rout. -NewsRise

Indian sovereign bonds are likely to edge higher in early trade, tracking a fall in U.S. Treasury yields as well as easing crude oil prices. The yield on the 7.17 percent bond maturing in 2028 is likely to trade in a 7.56 percent-7.62 percent band today.-NewsRise

U.S. stocks plunged in highly volatile trading on Monday, with both the S&P 500 and Dow Industrials indices slumping more than 4.0 percent, as the Dow notched its biggest intraday decline in history with a nearly 1,600-point drop and Wall Street erased its gains for the year.

Asian shares fell sharply after Wall Street suffered its biggest decline since 2011 as investors' faith in factors underpinning a bull run in markets began to crumble.

The dollar stood tall as a rout in global equities prompted anxious investors to seek shelter in the relative safety of the

greenback, with peers like the euro on the defensive.

U.S. Treasury yields fell from four-year highs on Monday after a rapid selloff in equity markets sparked demand for the low risk debt.

Oil prices fell by more than 1 percent, extending falls from the previous session, as global financial markets headed south in the wake of Wall Street's biggest one-day decline since 2011.

Gold prices held steady, buoyed by a tumble in global equity markets but pressured by expectations for more U.S. interest rate hikes this year.

CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 64.09/64.12 February 5 -$196.94 mln $334.22 mln

10-yr bond yield 7.70 pct Month-to-date $384.58 mln $628.61 mln

Year-to-date $2.42 bln $2.09 bln

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MORNING NEWS CALL - INDIA EDITION February 6, 2018

PICTURE OF THE DAY

(Compiled by Yoganand KN in Bengaluru) For questions or comments about this report, contact: reuters.marketwatch@thomsonreuters.com 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 You may instruct us to remove you from Morning News Call by clicking on the link - https://forms.thomsonreuters.com/MorningNewsCall/Unsubscribe/

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A man removes stalks from red chilli peppers at a farm in Shertha village on the outskirts of Ahmedabad, February 5.

REUTERS/Amit Dave