MORNING NEWS CALL

FACTORS TO WATCH

10:30 am: Kotak Mahindra Asset Management Company MD Harsha Upadhyaya and other senior management to

brief media in Mumbai.

11:30 am: South Indian Bank post-earnings analyst conference call in Mumbai.

12:00 pm: Department of Telecommunications to meet TRAI in New Delhi.

12:15 pm: Amber Enterprises India to brief media about its upcoming IPO in Mumbai.

2:30 pm: Transport Minister Nitin Gadkari in bilateral talks with Iranian Minister of Roads Abas Akhoundi in New Delhi .

3:00 pm: Transport Minister Nitin Gadkari at signing of MoU between Ministry of Road Transport & Highways and

Transport for London in New Delhi.

4:30 pm: Prime Minister Narendra Modi, Finance Minister Arun Jaitley, Transport Minister Nitin Gadkari and NITI

Aayog CEO Amitabh Kant at Economic Policy: The Road Ahead meeting in New Delhi..

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INDIA TOP NEWS

Infosys signs agreement with U.S. IRS; sees lower tax rate

Indian software services company Infosys Ltd on Tuesday said it has signed an agreement with the U.S. Internal

Revenue Service (IRS), resulting in an effective tax rate of about 100 basis points lower going forward.

AirAsia CEO says India unit explores IPO

Malaysia-based carrier AirAsia Bhd's India unit is looking at a potential initial public offering, the group's chief executive,

Tony Fernandes said.

India wants GAIL to focus on building gas pipelines - minister

India wants state-run utility GAIL (India) Ltd to focus on laying gas pipelines, the oil minister said on Tuesday after

reports about government plans to spin off its marketing operations.

GLOBAL TOP STORIES

U.S. hails Korea talks, despite North's rejection of denuclearisation

North and South Korea held their first talks in over two years on Tuesday, which Washington welcomed as a first step to

solving the North Korean nuclear weapons crisis, even though Pyongyang said those were aimed only at the United

States and not up for discussion.

Trump calls for two-step process on immigration, pushes bipartisan deal

U.S. President Donald Trump said on Tuesday he would back a two-step immigration approach that initially protects

young "Dreamer" immigrants from deportation if it includes immigration restrictions and provisions for a border wall with

Mexico that Democrats have opposed.

Toyota, Mazda to build $1.6 bln plant in Alabama -sources

Alabama will be the site of a new $1.6 billion Toyota Motor Corp and Mazda Motor Corp auto plant, a victory for

President Donald Trump who had prodded manufacturers to build new U.S. facilities and threatened tariffs on foreign

REUTERS INDIA EDITION Wednesday, January 10, 2018

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MORNING NEWS CALL - INDIA EDITION January 10, 2018

production, sources said on Tuesday.

STATE OF THE MARKETS

The SGX Nifty Futures were trading at 10,645.50, trading up 0.06 pct from its previous close.

The Indian rupee will likely trade little changed against the dollar in early session, as higher local equities are expected

to offset rising global crude oil prices and U.S. Treasury yields that boosted greenback demand. -NewsRise

Indian government bonds are likely to fall tracking overnight gains in U.S. Treasury yields and crude oil prices. The

yield on the benchmark 6.79 pct bond maturing in 2027 is likely to trade in a 7.35 pct-7.40 pct band today. -NewsRise

Wall Street's major indexes extended the New Year rally to close at record levels on Tuesday on investor optimism

ahead of quarterly earnings reports and hopes for easing tensions with North Korea.

Asian shares hovered just below their 2007 record peak, supported by expectations of solid corporate earnings on the

back of synchronised growth in the global economy.

The dollar edged up in early Asian trade, bolstered by higher U.S. Treasury yields but still constrained against the yen

after the Bank of Japan's move to trim its purchases of Japanese government bonds triggered tapering fears.

Yields on the 10-year U.S. Treasury note reached a 10-month high on Tuesday, after the Bank of Japan said it will trim

its purchases of Japanese government bonds and U.S. corporate debt hit the market.

Oil prices hit their highest levels since 2014 due to ongoing production cuts led by OPEC as well as healthy demand,

although analysts cautioned that markets may be overheating.

Gold prices edged lower for a second session, as a rally in equities and a surge in U.S. treasury yields dented bullion's

safe-haven appeal.

CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 63.58/63.61 January 9 -$47.59mln $207.82mln

10-yr bond yield 7.32 pct Month-to-date $406.05mln $300.47mln

Year-to-date $406.05mln $300.47mln

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MORNING NEWS CALL - INDIA EDITION January 10, 2018

PICTURE OF THE DAY

A worker prepares a makeshift cottage called “Bhelaghar”, which is made of bamboo and straw, as part of celebrations

ahead of the Magh Bihu festival in Morigaon district, in Assam, January 9. REUTERS/Anuwar Hazarika

(Compiled by Pathikrit Bandyopadhyay 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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