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To access a PDF version of this newsletter, please click here https://share.refinitiv.com/assets/newsletters/Indiamorning/MNC_IN_09232021.pdf If you would like to receive this newsletter by email, please subscribe to: https: // solutions.refinitiv.com/MNCIndiaSubscriptionpage FACTORS TO WATCH 10h00: Agriculture Minister Narendra Singh Tomar, Deputy Minister Kailash Choudhary, Minister of State for New and Renewable Energies Bhagwanth Khuba, Ramesh Chand, Member of Niti Aayog , at the FICCI webinar on the agrochemical industry. 10:30 am: Indoco Remedies will hold its annual general meeting. 10:30 am: Kalyan Jewelers will hold its annual general meeting. 11:00 am: Hindustan Construction Company will hold its annual general meeting. 11:00 am: Max Financial Services will hold its annual general meeting. 11:00 am: Repco Home Finance will hold its annual general meeting. 12:30 p.m .: Max India will hold its annual general meeting. 2:30 p.m .: Rajeev Talwar, Chairman of the National Real Estate Development Council, Puneet Chhatwal, General Manager of Indian Hotels, Sunil Kant Munjal, Chairman of Hero Enterprise and other business leaders at the AIMA management convention. 3:00 p.m .: Minister of Health Mansukh Mandaviya, Junior Minister Bharati Pravin Pawar, Secretary of Health Rajesh Bhushan during the Aarogya Manthan webinar. 3:15 p.m .: Marico Managing Director and Managing Director Saugata Gupta, Managing Director and Managing Director of Spencer’s Retail Devendra Chawla, Jyothy Laboratories co-Managing Director Ullas Kamath during the FICCI webinar. 3:30 p.m .: Ashok Kumar Gupta, Chairman of the Competition Commission of India, at ASSOCHAM webinar. 3:30 p.m .: Dipali Goenka, Managing Director and Deputy Managing Director of Welspun India, and Managing Director Rajesh R. Mandawewala to interact with investors. 4.30 p.m .: Briefing from the Ministry of Health on the Covid-19 situation in New Delhi. 5:00 p.m .: Closing of the subscription to the IPO of Paras Defense and Space Technologies. 6.30 p.m .: Minister of Commerce Piyush Goyal at the AIMA management convention. INDIA TOP NEWS • India to likely block Chinese investment in IPO of insurance giant LIC -sources New Delhi wants to prevent Chinese investors from buying shares in Indian insurance giant Life Insurance Corp (LIC) which is due to go public, four senior government officials and one the banker told Reuters, highlighting tensions between the two countries. • Sony unit buys Zee Entertainment, dominating Indian broadcast market Sony’s Indian entertainment unit to buy local rival Zee, merging TV channels, film assets and streaming platforms to become the largest broadcaster in the country and better compete with companies like Netflix and Disney. • India must work for sustainable growth in the post-pandemic era – Das India must seek sustainable growth through medium-term investments and sound financial and structural reforms once the global pandemic is over, said Wednesday the Governor of the Reserve Bank of India, Shaktikanta Das. • India and the United Arab Emirates plan to increase bilateral trade to $ 100 billion in 5 years via a new pact India and the United Arab Emirates plan to conclude a Comprehensive Economic Partnership Agreement (CEPA) by the end of the year with the aim of increasing trade between the two countries by 70% in five years, said trade ministers of the two countries. • Vodafone Idea is confident in the funding deal after the government package boost said Wednesday. • Australian Zip enters Indian buy-now-pay-ulter space with ZestMoney deal Australian buy-now-pay-tard (BNPL) company Zip announced on Wednesday that it would invest $ 50 million to acquire a minority stake in its Indian counterpart, ZestMoney, as part of its plans to tap new growth markets and attract investors. • Serum Institute to invest $ 68 million in UK vaccine maker Oxford Biomedica Vaccine maker Serum Institute of India (SII) to invest $ 68 million in Oxford Biomedica to help fund the development of a plant that makes COVID vaccines -19, the British company said on Wednesday. GLOBAL NEWS • The Fed signals a cut in bond purchases coming “soon”, a rate hike next year the US central bank’s turn of pandemic crisis policies is gaining momentum. • US FDA clears Pfizer COVID-19 recall for elderly and at-risk Americans The US Food and Drug Administration on Wednesday cleared a booster dose of Pfizer and BioNTech COVID-19 vaccine for people 65 years of age and older , all people at high risk for serious illness and others who are regularly exposed to the virus. • Chinese president of Evergrande seeks to reassure investors that stocks are skyrocketing. LOCAL MARKET OUTLOOK (as reported by NewsRise) • Nearest month SGX Nifty futures were trading up 0.6% to 17,651.50. • The Indian rupee is expected to weaken against the dollar after the US Federal Reserve announced that it will soon begin to reduce the pace of asset purchases. • Indian sovereign bond yields are expected to open slightly lower, ahead of the central bank’s debt purchase today which includes the benchmark paper. However, the rise in the benchmark Brent crude oil contract above the $ 76 per barrel mark could cap large gains in local ratings. The yield on the 6.10% benchmark bond maturing in 2031 is expected to trade in the 6.11% -6.16% range until the debt is purchased today. GLOBAL MARKETS • The three major US stock indices rose 1% on Wednesday as investors mostly enthusiastically followed the latest signals from the Federal Reserve, including paving the way for the central bank to reduce its monthly bond purchases in the near future . • Asian stocks rose, supported by positive news from struggling developer China Evergrande Group, as the dollar held near a one-month high after the US Federal Reserve took a hawkish tilt of the day on the next day. • US Treasury yields hovered on Wednesday after the Federal Reserve said it would cut monthly bond purchases “soon” and investors struggled with a timeline suggesting higher interest rates could follow. faster than expected. • Oil prices have risen, extending large gains overnight with growing fuel demand and lower crude inventories as production remains hampered in the US Gulf of Mexico after two hurricanes. • Gold prices fell after the US Federal Reserve signaled easing of its monthly bond purchases by next year and rising interest rates earlier than expected, which could increase the opportunity cost of holding non-performing bullion. CLOSE FII INVESTMENTS SHARES DEBT PNDF spot 73.87 / 73.90 September 22 1,333.44 crore 338.19 crore 10-year bond yield 6.138% Monthly year-to-date 14,496 crore 5,761 crore Year-to-date 65,615 crore (5,028) crore (FII investment figures are in Rupees. Source: National Securities Depository Limited) For Additional Data: Indian Government Bond Market Volumes Stock Market Reports Undeliverable Futures Data Corporate Debt Stories [IN CORPD] Local market closure / intraday levels [IN SNAPSHOT] Monthly collections [INFLOWS RTRS TABLE IN] ($ 1 = 73.87 Indian rupees) (Compiled by Yoganand KN in Bangalore)
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