To access a PDF version of this newsletter, please click here here If you would like to receive this newsletter via email, please register at: here FACTORS TO WATCH • 11:00 am: Winter session of Parliament begins in New Delhi. • 12:00 pm: NITI Aayog Vice Chairman Rajiv Kumar to release a report on India’s health system in New Delhi • 12:00 pm: Fifteenth Finance Commission Chairman N.K. Singh at TIOL Awards event in New Delhi. • GMF: LIVECHAT - MARKETS FOCUS Reuters EMEA Markets Editor Mike Dolan walks us through the upcoming week in European markets at 3:30 pm IST. To join the conversation, click on the link: refini.tv/2P8N0Wp INDIA TOP NEWS • Over half of India's coal-fired power plants set to miss emission norm deadline More than half of India's coal-fired power plants ordered to retrofit equipment to curb air pollution are set to miss the deadline, private industry estimates and a Reuters analysis show, as millions in the country wake up to toxic air each day. • India considering telecoms firms' request for relief on overdue payments India is considering requests for financial relief from mobile carriers Vodafone Idea Ltd and Bharti Airtel Ltd, the federal finance minister said on Friday. • Untimely rains hit India's summer crops, delay rural economy recovery Heavy rains in October and November have brought more misery to India's farmers, after summer-sown crops such as soybean, cotton, rice and vegetables suffered rain and flood damage during the wettest June-September monsoon season in 25 years. • India's bankruptcy laws tweaked to help resolve problems at non-bank lenders India has amended its insolvency and bankruptcy rules to allow for greater flexibility in resolving problems at troubled non-banking finance companies (NBFCs), the government said in a statement on Friday. • Supreme court clears path for ArcelorMittal to acquire Essar Steel India's Supreme Court cleared the path on Friday for steelmaker ArcelorMittal SA to take over bankrupt Essar Steel, following a legal tussle that has dragged through multiple courts for over two years. • WTO rejects most Indian claims against U.S. steel duties World Trade Organization adjudicators on Friday rejected most of India's claims that the United States was not respecting an earlier WTO ruling related to anti-subsidy duties on Indian steel. • Russia says India delaying signing helicopters deal - executive The head of Russian Helicopters said on Sunday that India was delaying the signing of a firm agreement for purchasing 200 helicopters despite providing all information. • Indian tax officials find Modi's targets too taxing, some quit Over a dozen Indian tax officials interviewed by Reuters said they are stuck between a push to meet unrealistic collection targets, which influence their appraisals and transfers, and the fear of being accused of over-zealousness if they crack down on evasion. GLOBAL TOP NEWS • Security tight at HK university as hundreds of protesters trapped on campus Hong Kong police fired tear gas at protesters as they tried to escape a besieged university while hundreds more pro-democracy activists stayed inside armed with petrol bombs and other weapons awaiting an expected operation to oust them. • China central bank cuts 7-day reverse repo rate for first time since 2015 China's central bank lowered the interest rate on reverse repurchase agreements by five basis points, the first reduction in the short-term liquidity tool in more than four years. • Saudi Aramco in race for IPO record with $1.7 trillion top value Saudi Aramco is worth up to $1.7 trillion at the price range set by the oil giant on Sunday, below the $2 trillion sought by Saudi's crown prince but putting it in the running to become the world's biggest IPO. LOCAL MARKETS OUTLOOK (As reported by NewsRise) SGX Nifty nearest-month futures were flat at 11,943.50. The Indian rupee is expected to open little changed against the dollar amid tepid regional cues as investor focus remains on U.S.-China trade developments. Indian government bonds may open higher, as the finance minister’s comment that the government will complete the stake sale of two state-run companies by the end of this financial year eased some worries about a likely fiscal slippage. The yield on the benchmark 6.45% bond maturing in 2029 is likely to trade in a range of 6.48%-6.53%. GLOBAL MARKETS • Wall Street's main stock indexes closed at record levels on Friday, fueled by fresh optimism over a potential calming of U.S.-China trade tensions and by big gains in shares of healthcare companies. • Asian shares blipped higher after Beijing surprised markets by trimming a key interest rate for the first time since 2015, stirring speculation that more stimulus was on the way for the world's second-largest economy. • Major currencies were off to a cautious start as market players looked to whether Washington and Beijing can soon sign off on a deal to end their trade war that has been a drag on the global economic growth. • U.S. Treasury yields rose on Friday as fresh hopes that the United States and China will reach a deal to de-escalate their trade war boosted risk appetite, and reduced demand for U.S. government bonds. • Oil prices were little changed following steady gains in the previous week with investors awaiting fresh clues over prospects for a trade deal between the United States and China, shrugging off concerns over steadily rising oil supplies. • Gold eased, pressured by optimism over U.S.-China trade ties following a report of "constructive talks" over the weekend, but held within a tight range as caution set in with investors awaiting concrete signals on the negotiations. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 71.81/71.84 November 15 (431.03) crore (102.78) crore 10-yr bond yield 6.51% Month-to-date 14,436 crore 4,767 crore Year-to-date 82,989 crore 37,623 crore (FII investment numbers are in Indian rupees. Source: National Securities Depository Limited) For additional data: India govt bond market volumes Stock market reports Non-deliverable forwards data Corporate debt stories [IN CORPD] Local market closing/intraday levels [IN SNAPSHOT] Monthly inflows [INFLOWS RTRS TABLE IN] ($1 = 71.35 Indian rupees) (Compiled by Nayyar Rasheed in Bengaluru)
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