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FACTORS TO WATCH
• 11: 00 am: Prime Minister Narendra Modi to launch Rewari - Madar
piece of the Western Devoted Freight Hall via video conference.
• 11: 00 am: Department of Telecommunications meets extra than one stakeholders for
consultations to frame spectrum policy in Novel Delhi.
• 3: 00 pm: Federation of Indian Export Organisations Director Overall and
Chief Govt Ajay Sahai at webinar on Remission of Tasks and Taxes on Export
• 3: 30 pm: DPIIT Secretary Guruprasad Mohapatra, Further Secretary Sumita
Dawra, Civil Aviation Ministry Secretary Pradeep Singh Kharola, Joint Secretary
Usha Padhee and Amber Dubey at FICCI webinar on aerospace manufacturing.
• 5: 30 pm: Authorities to launch first approach estimate of FY21 GDP.
• RBI to conduct grab and sale of up to 100 billion rupees of federal
government bonds beneath a varied starting up market operation.
INDIA TOP NEWS
• Criticism mounts of India's 'abrupt' approval of native vaccine
Criticism of India's approval of a native COVID-19 vaccine with out proof of
its efficacy grew on Wednesday after facts that a regulatory panel popular the
shot appropriate one day after asking the vaccine maker for extra proof it can presumably well well
• Companies sector loses extra steam in Dec, job cuts resume
Enhance in India's dominant services industry continued to lose momentum in
December as a resurgence in coronavirus infections weighed on new enterprise and
employment, a deepest see showed on Wednesday.
• USTR slams India, Italy, Turkey on digital taxes nonetheless holds off on tariffs
Digital services taxes adopted by India, Italy and Turkey discriminate
towards U.S. companies and are inconsistent with worldwide tax ideas,
the U.S. Alternate Representative's place of dwelling of enterprise said on Wednesday, paving the kind for
capability retaliatory tariffs.
• Honda affords early retirement in India amid slowing motorcycle gross sales
Honda Motor is providing voluntary retirement to some permanent workers at
its bikes and scooters unit in India amid slowing quiz there following
the COVID-19 pandemic, the firm said on Wednesday.
• India's proposed adjustments to anti-smoking regulation face objections from tobacco
India's tobacco industry will object to a proposal to ban smoking zones in
motels and restrict promoting at cigarette kiosks because the federal government steps up
anti-smoking efforts, two executives said on Wednesday.
• TPG-backed cosmetics startup Nykaa plans IPO, eyes $3 bln in valuation -
App-essentially essentially essentially based Indian cosmetics retailing startup Nykaa plans to head public by
early 2022 at a valuation of greater than $3 billion, Mint reported on Wednesday,
citing an particular person attentive to the matter.
• E-commerce startup Udaan raises $280 million from Tencent, others
Indian enterprise-to-enterprise e-commerce startup Udaan has raised $280
million, it said Wednesday, because it seeks to attend extra mother-and-pop companies
that are buying products online within the wake of the COVID-19 pandemic.
• In blow to Vedanta, Zambian court ideas KCM liquidator to stop in put up
A Zambian court has dominated the reveal-appointed liquidator of Vedanta's
Konkola Copper Mines is presumably not discharged with out reference to a November ruling ordering a
terminate to complaints to permit Vedanta and minority KCM shareholder ZCCM-IH to
• Four tiring at India steel plant after suspected fuel leak
Four contract workers on the Metal Authority of India Shrimp's Rourkela
steel plant in eastern India died on Wednesday after a suspected fuel leak, the
reveal-owned firm said in a press launch.
GLOBAL TOP NEWS
• Congress debates certification of Biden's boom after Trump supporters storm
Heaps of of President Donald Trump's supporters stormed the U.S. Capitol on
Wednesday in a uncover to overturn his election defeat, occupying the emblem of
American democracy and forcing Congress to suspend a session to certify
President-elect Joe Biden's victory.
• Georgia delivers U.S. Senate to Democrats with double boom
Democrats on Wednesday carried out a sweep of the 2 U.S. Senate seats up for
grabs in runoff elections in Georgia, giving the celebration withhold watch over of the chamber
and boosting the prospects for President-elect Joe Biden's legislative agenda.
• U.S. inquisitive about adding Alibaba, Tencent to China inventory ban -sources
The Trump administration is inquisitive about adding Alibaba Neighborhood and Tencent
Holdings to a blacklist of Chinese language companies that are allegedly owned or
managed by the Chinese language navy, two of us familiar with the matter told
LOCAL MARKETS OUTLOOK
(As reported by NewsRise)
• SGX Nifty nearest-month futures bear been buying and selling 0.5% higher at 14,251.50.
• The Indian rupee is anticipated to edge lower towards the buck as lengthy-term
Treasury yields climbed to their perfect in greater than 9 months on chance
of additional U.S. fiscal stimulus.
• Indian federal government bond yields will probably starting up little modified
earlier than the central bank’s so-called starting up market operation. The yield on the
benchmark 5.77% 2030 bond is at possibility of alternate in a 5.88%-5.93% band.
• The Dow and the S&P 500 ended higher, hovering to all-time highs on
Wednesday, as traders piled into financial and industrial shares on bets a
Democratic sweep in Georgia would result in extra fiscal stimulus and
• Bonds nursed losses and Asian inventory markets rose in anticipation of a good
borrowing and good spending Democrat administration driving boom, following
runoff elections that gave the celebration withhold watch over of every homes of U.S. Congress.
• The buck languished come its lowest stage in on the subject of three years after
Democrats received withhold watch over of the U.S. Senate, clearing the kind for a greater fiscal
stimulus beneath President-elect Joe Biden.
• Runoff elections in Georgia that within the end gave Democrats withhold watch over of the
U.S. Senate hoisted the 10-yr U.S. Treasury existing yield on Wednesday over the
1% stage for the first time since March sooner than the upward thrust became tempered by the
swarming of the U.S. Capitol by pro-Trump protesters.
• Oil costs bear been regular after supporters of President Donald Trump stormed
the U.S. Capitol, with traders focusing on the chance of tighter affords
after Saudi Arabia unilaterally agreed to lower output.
• Gold costs edged higher, convalescing from a provocative decline within the outdated
session, as traders cheered a Democratic boom within the U.S. Senate bustle that is
anticipated to unleash extra fiscal stimulus.
CLOSE FII INVESTMENTS EQUITIES DEBT
PNDF station 73.11/73.14 January 6 (193.25) crores 188.77 crores
10-yr bond yield 5.89% Month-to-date 4,362 crores 2,128 crores
(FII investment numbers are in Indian rupees. Source: Nationwide Securities
For additional recordsdata:
India govt bond market volumes
Stock market reports
Non-deliverable forwards recordsdata
Corporate debt studies [IN CORPD]
Native market closing/intraday ranges [IN SNAPSHOT]
Monthly inflows [INFLOWS RTRS TABLE IN]
($1 = 73.13 Indian rupees)
(Compiled by Sourav Bose)
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