To access the newsletter, click on the link: here If you would like to receive this newsletter via email, please register at: here FACTORS TO WATCH No major events are scheduled. LIVECHAT - MARKETS FOCUS We will chat with Lee Robinson, founder of Altana Wealth, to get his take on the markets and the economy at 4:30 pm IST. To join the conversation, click on the link: refini.tv/2P8N0Wp INDIA TOP NEWS Indian steel firms seek higher duties on steel imports as prices drop Indian steel firms are putting pressure on the nation's government to impose higher duties on imports as trade disputes and a global economic slowdown divert surplus Asian steel stocks to India, industry executives and government sources said. Amazon grocery service slowly returns in India after e-commerce disruption Amazon.com's grocery service is slowly returning on its India website after the online retail giant faced disruption from revised e-commerce curbs which kicked in on Feb. 1. Banks may have to shell out another up to $5.6 billion for bad debt – India Ratings Indian banks may have to provide an additional up to 400 billion rupees towards loans, which could potentially turn sour between October 2018 and September 2020, according to India Ratings & Research, the domestic arm of Fitch Ratings. Hindustan Petroleum Q3 profit dives 87 percent on higher expenses State-owned refiner Hindustan Petroleum on Tuesday posted an 87.3 percent slump in third-quarter profit, dented by higher expenses. GLOBAL TOP NEWS Trump vows to build border wall that Democrats oppose President Donald Trump told Americans in his State of the Union address on Tuesday that illegal immigration was an urgent national crisis and he vowed to build a border wall as he sought funding for a project rejected by Democrats. U.S.' Mnuchin, Lighthizer to hold talks next week in China -sources Senior U.S. and Chinese officials are poised to start another round of trade talks in Beijing next week to push for a deal to protect American intellectual property and avert a March 2 increase in U.S. tariffs on Chinese goods, two people familiar with the plans said on Tuesday. ABC and parks boost Disney profit above forecasts Walt Disney reported quarterly earnings on Tuesday that handily topped Wall Street estimates thanks to a booming theme park business and growth at its ABC broadcast network as the company invests in a digital media future. LOCAL MARKETS OUTLOOK (As reported by NewsRise) SGX Nifty nearest-month futures were trading 0.5 percent higher at 11,016.00. The Indian rupee is expected to open little changed against the dollar amid muted regional cues. Traders await tomorrow’s interest rate decision by India’s Monetary Policy Committee and updates on trade negotiations between the U.S. and China. Indian government bonds are expected to trade steady, as investors await decision on key interest rate by the nation’s rate-setting panel tomorrow, wherein a change of stance is largely expected. Yield on India's benchmark 7.17 percent bond maturing in 2028 will likely trade in a 7.59 percent -7.64 percent band today. GLOBAL MARKETS • U.S. stocks rose on Tuesday as largely upbeat corporate results fueled investor optimism. • Asian shares started cautiously as investors waited to see if U.S. President Donald Trump drops any hints of progress on tariffs in his State of the Union speech. • The dollar held mostly steady against its peers, moving in a narrow range, while drawing support from a sagging euro, which was weighed by soft data. • Treasury yields fell on Tuesday, with the 10-year sliding from one-week highs, as the market priced in the Federal Reserve's dovish interest rate view amid an uncertain global economic outlook. • Oil prices edged higher for the first time in three sessions, although concerns over the outlook for the global economy capped gains. • Gold prices held steady on after rising 0.3 percent in the previous session, with investors looking to U.S. President Donald Trump's upcoming State of the Union address for hints on the outlook for Sino-U.S. trade. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 71.70/71.73 February 5 $58.87 mln -$144.32 mln 10-yr bond yield 7.62 pct Month-to-date $44.77 mln -$289.45 mln Year-to-date -$30.58 mln -$1.10 bln 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]
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