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MORNING NEWS CALL REUTERS INDIA EDITION Wednesday, January 17, 2018

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MORNING NEWS CALL REUTERS INDIA EDITION Wednesday, January 17, 2018 MORNING NEWS CALL REUTERS INDIA EDITION Wednesday, January 17, 2018 FACTORS TO WATCH 10:00 am: SBI Deputy MD Mrutyunjay Mahapatra, Maharashtra Chief Minister Devendra Fadnavis, Bajaj Electricals Executive President Pratap Gharge, SEBI General Manager Avneesh Pandey at MTech event in Mumbai. 11:00 am: Textile Minister Smriti Irani, Junior Textile Minister Ajay Tamta and Textile Secretary Anant Kumar Singh at International Garment Fair in New Delhi. 12:00 pm: GIFT City CEO Ajay Pandey to provide business update to media in New Delhi. 3:00 pm: Commerce Minister Suresh Prabhu , Andhra Pradesh Chief Minister N. Chandrababu Naidu at CII’s Partnership Summit in New Delhi. LIVECHAT-CHARTING FX Take a look at the FX charts with Reuters technical analyst Martin Miller at 04:30 pm IST. To join the conversation, click here INDIA TOP NEWS Indian bonds slump after RBI deputy warns of banks' high interest rate risks Indian bonds slumped to a near two year low on Tuesday after a central bank deputy governor highlighted growing balance sheet risks for state banks due to their high exposure to government securities. Modi launches $6.8 billion refinery in desert state of Rajasthan Indian Prime Minister Narendra Modi on Tuesday launched the construction of a $6.8 billion refinery in the western state of Rajasthan, hopeful to lift national capacity to meet the surge in fuel demand. Reliance declares 30 percent higher refinery capacity at export plant - document India's Reliance Industries has declared a 30 percent increase in the installed capacity of its export-focused oil refinery, a government report showed, increasing the size of the world's largest refinery complex. GAIL reworks Gazprom LNG deal, raises volume Gas utility GAIL (India) Ltd has renegotiated the terms of a long-term liquefied natural gas purchase deal with Russia's Gazprom, the Indian company said on Tuesday. India's oil imports in 2017 surged to a record 4.4 million bpd India's oil imports rose by about 1.8 percent in 2017 to a record 4.37 million barrels per day (bpd) as the country boosted purchases to feed its expanded refining capacity, ship-tracking data obtained from sources and data compiled by Thomson Reuters Oil Research & Forecasts showed. GLOBAL TOP STORIES Big gain in Japan's machinery orders shows businesses ready to spend Japanese orders for machinery surged to their highest level in a decade in November, in a sign businesses may finally be responding to policymakers' efforts to get companies to spend their massive cash piles to spur economic growth. MORNING NEWS CALL - INDIA EDITION January 17, 2018 Nations at North Korea meeting commit to considering more sanctions A 20-nation meeting on North Korea agreed on Tuesday to consider imposing unilateral sanctions on Pyongyang that go beyond those required by U.N. Security Council resolutions, the United States and Canada said in a joint statement. Back Brexit law or risk chaos, PM May's Conservatives tell lawmakers Prime Minister Theresa May's Conservative Party urged lawmakers to back the government's Brexit legislation at a vote in parliament later on Wednesday, warning opponents that trying to block the plan would bring chaos. STATE OF THE MARKETS The SGX Nifty Futures were trading at 10,713.50, trading little changed from its previous close. The Indian rupee will likely trade little changed against the dollar in early session, as subdued local sentiment after wider trade deficit data and rally in global crude oil prices are expected to offset broad greenback weakness. -NewsRise Indian government bonds are expected to edge higher in early trade on value buying, though investor sentiment continues to remain bearish, traders said. The yield on the benchmark 6.79 pct bond maturing in 2027 is likely to trade in a 7.52 pct-7.57 pct band today. - NewsRise Wall Street paused its rally on Tuesday, weighed down by weakness in General Electric shares and as lower oil prices dragged down the energy sector. Asian stocks stepped back from a record high as the region's resource shares were dented by falling oil and commodity prices while digital currencies tumbled on worries about tighter regulations. The dollar fell to a three-year low against its peers, with an earlier bounce sputtering as the euro edged back after shaking off a potentially negative turn in German politics. U.S. long-dated Treasury yields fell on Tuesday morning along with those of European bonds, after a Reuters report said the European Central Bank was not quite ready to end its bond-buying scheme at next week's meeting. Oil prices rose on tightening supply and strong global demand, although some analysts warned of a downward correction after a more than 13-percent price rise in a month. Gold prices edged up towards four-month highs hit early in the week, as the U.S. dollar slumped to three-year lows against a basket of currencies. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 64.04/64.07 January 16 $108.26mln -$22.18mln 10-yr bond yield 7.54 pct Month-to-date $278.64mln $539.37mln Year-to-date $278.64mln $539.37mln 2 MORNING NEWS CALL - INDIA EDITION January 17, 2018 PICTURE OF THE DAY Devotees cross a pontoon bridge after taking a holy dip at Sangam, the confluence of the Ganges, Yamuna and Saraswati rivers, during Magh Mela festival in Allahabad, January 16. REUTERS/Jitendra Prakash (Compiled by Nishit Kunal in Bengaluru) © 2018 Thomson Reuters. All rights reserved. This content is the intellectual property of Thomson Reuters and its affiliates. Any copying, distribution or For questions or comments about this report, contact: redistribution of this content is expressly prohibited without the prior written [email protected] consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. 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