Indigo Paints IPO Opens for Subscription in Mumbai 10:30 Am
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FACTORS TO WATCH 10:00 am: Indigo Paints IPO opens for subscription in Mumbai 10:30 am: Steel Ministry Additional Secretary Rasika Chaube, Additional Industrial Adviser Parmjeet Singh, NITI Aayog member V.K. Saraswat, Jindal Steel & Power Managing Director V.R. Sharma and other steel industry heads at FICCI webinar on Indian Steel industry. 11:00 am: Niti Aayog Vice Chairman Rajiv Kumar, Chief Executive Officer Amitabh Kant at the virtual launch of India Innovation Index 2020. 12:00 pm: Prime Minister Narendra Modi to release financial assistance to beneficiaries in Uttar Pradesh state under government's rural housing scheme via video conferencing. 12:15 pm: MSME Minister Nitin Gadkari to address webinar with members from All India Association of Industries via video conferencing. 12:30 pm: Farm Minister Narendra Singh Tomar at FICCI virtual “Processed Food R&D Expo.” 1:30 pm: Federal Bank Managing Director and Chief Executive Shyam Srinivasan at a virtual press conference post 3Q earnings followed by analyst call. 2:30 pm: Tata Communications management at a virtual media conference post 3Q earnings. 2:30 pm: Vardhman Special Steels management at a conference call post 3Q earnings. 4:00 pm: Hindustan Zinc conference call post 3Q results. 4:00 pm: CEAT management at a conference call post 3Q earnings. 4:00 pm: Sterlite Technologies management at a conference call post 3Q earnings. 5:00 pm: Indian Railway Finance Corporation IPO subscription closes in Mumbai 5:30 pm: Bajaj Finance management at an analyst conference call post 3Q earnings. 6:00 pm: GMM Pfaudler management at conference call post 3Q earnings. 6:30 pm: HDFC Asset Management analyst conference call post 3Q earnings PROMOTION LIVECHAT - REUTERS GLOBAL MARKETS FORUM Reuters markets correspondents in London and New York discuss what's on the cards for equities in 2021 at 7:30 pm IST. To join the conversation, click here INDIA TOP NEWS India plans foreign investment rule changes that could hit Amazon India is considering revising its foreign investment rules for e-commerce, three sources and a government spokesman told Reuters, a move that could compel players, including Amazon.com, to restructure their ties with some major sellers. India to start COVID vaccine exports on Wednesday India will start exporting COVID-19 vaccines from Wednesday, paving the way for many mid- and lower-income countries to get supplies of the easy-to-store Oxford/AstraZeneca drug, of which it said it plans to ship millions of doses within days. India asks Facebook's WhatsApp to withdraw privacy policy update India's technology ministry has asked WhatsApp to withdraw changes to its privacy policy the messaging platform announced earlier this month, saying the new terms take away choice from Indian users. Google backs Indian courier startup Dunzo in $40 million fundraising Indian hyperlocal courier startup Dunzo has raised $40 million from existing investor Google and others, it said on Tuesday, after seeing a surge in usage during the COVID-19 pandemic. India's oil imports at near 3-year high in December- trade India's crude oil imports in December soared to the highest levels in nearly three years to more than 5 million barrels per day (bpd) as its refiners cranked up output to meet a rebound in fuel demand, data from trade sources showed. Hedge fund Kyma Capital to take Vedanta dispute to U.S. regulators Kyma Capital, founded by former Blackstone trader Akshay Shah, is set to complain to U.S. regulators in a dispute with Indian billionaire Anil Agarwal over nearly $1 billion in loans by Vedanta Limited to its parent company, a source familiar with the matter told Reuters. India urges frontline workers not to refuse vaccines as targets missed India appealed to frontline workers on Tuesday not to refuse vaccines for COVID-19, after almost all states failed to meet targets in the first few days of what the government calls the world's biggest immunisation campaign. GLOBAL TOP STORIES 'Act big' now to save economy, worry about debt later, Yellen says in Treasury testimony Janet Yellen, U.S. President-elect Joe Biden's nominee for Treasury Secretary, urged lawmakers on Tuesday to "act big" on coronavirus relief spending, arguing that the economic benefits far outweigh the risks of a higher debt burden. Biden leads observance of America's 400,000 COVID-19 dead on eve of inauguration President-elect Joe Biden on Tuesday led a national memorial observance on the eve of his inauguration to honor the 400,000 Americans who have perished from COVID-19 during the 11 months since the novel coronavirus claimed its first U.S. life. Netflix forecasts an end to borrowing binge, shares surge Netflix said on Tuesday its global subscriber rolls crossed 200 million at the end of 2020 and projected it will no longer need to borrow billions of dollars to finance its broad slate of TV shows and movies. STATE OF THE MARKETS SGX Nifty nearest-month futures were trading 0.3% lower at 14,509.50. - NewsRise The Indian rupee is expected to trade little changed to the U.S. currency despite a broad dollar decline amid U.S. Treasury Secretary nominee Janet Yellen calling for more fiscal spending to help the economy. - NewsRise India federal government bond yields will likely open largely unchanged as traders may prefer to be on the sidelines ahead of the central bank’s open market operation tomorrow. The yield on the benchmark 5.77% 2030 bond is likely to trade in a 5.91%-5.96% band. - NewsRise Wall Street's main indexes rose on Tuesday as U.S. Treasury Secretary nominee Janet Yellen advocated for a hefty fiscal relief package before lawmakers to help the world's largest economy ride out a pandemic-driven slump. Asian shares climbed to a record high as U.S. Treasury Secretary nominee Janet Yellen advocated for a hefty fiscal relief package to help the world's largest economy ride out a pandemic-driven slump. The U.S. dollar nursed losses and the euro hung on to gains as investors' mood brightened in the wake of a better-than-expected sentiment survey in Germany and big spending talk from U.S. Treasury Secretary nominee Janet Yellen. Most U.S. Treasury yields fell slightly on Tuesday after U.S. Treasury Secretary nominee Janet Yellen said during Senate confirmation testimony that tax cuts enacted in 2017 for large corporations should be repealed. Oil prices rose in early trade, adding to solid gains overnight, on expectations the incoming U.S. administration will go ahead with massive stimulus spending that would boost fuel demand and draw down crude stocks. Gold prices rose as expectations for a massive U.S. stimulus to help the world's largest economy recover from the coronavirus jolt bolstered bullion's appeal as an inflation hedge and pressured the dollar. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 73.21/73.24 January 19 1,951.51 crores (1,294.91) crores 10-yr bond yield 5.94 % Month-to-date 19,389 crores (3,888) crores (FII investment numbers are in Indian rupees. Source: National Securities Depository Limited) 2 PICTURE OF THE DAY Indian cricket fans light fireworks to celebrate the victory after India's team won the fourth test decider against Australia in Brisbane, at the sports complex in Ahmedabad, January 19. REUTERS/Amit Dave © 2021 Refinitiv. All rights reserved. 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