FACTORS TO WATCH Finance Minister Nirmala Sitharaman is scheduled to hold pre-budget meetings with the financial sector and capital markets stakeholders in New Delhi. The Government is scheduled to release November trade data in New Delhi. 10:00 am: Mrs Bector’s Food Specialities IPO opens for subscription in Mumbai. 11:00 am: Chemicals Minister D.V. Sadananda Gowda is expected to participate in ASSOCHAM's virtual foundation week. 11:00 am: Defence Ministry Additional Secretary Sanjay Jaju is scheduled to participate in the PHD Chamber of Commerce webinar on “Opportunities for MSMEs in Defence & Aerospace Manufacturing.” 11:30 am: Commerce Minister Piyush Goyal, Telecom Minister Ravi Shankar Prasad, Transport Minister Nitin Gadkari, DPIIT Secretary Guruprasad Mohapatra, State Bank of India Chairman Dinesh Khara among others are expected to participate in the CII Partnership summit. 1:15 pm: Commerce Minister Piyush Goyal, JSW Group Chairman Sajjan Jindal, Vedanta Chief Executive - Aluminium & Power Ajay Kapur among others are scheduled to participate in ASSOCHAM's virtual foundation week. 3:00 pm: PMEAC Part-Time Member Anantha Nageswaran, Union Bank of India Chief Executive and Managing Director Rajkiran Rai G, Reserve Bank of India Former Governor D. Subbarao, HDFC Bank Chairperson Shyamala Gopinath, J P Morgan Chief India Economist Sajjid Chinoy among others are expected to participate in Almus Rupee Money conference. 4:00 pm: The Health Ministry is scheduled to brief on the Covid-19 situation in New Delhi. 6:00 pm: Finance Minister Nirmala Sitharaman is scheduled to participate in ASSOCHAM's virtual foundation week. PROMOTION LIVECHAT - REUTERS GLOBAL MARKETS FORUM Sarbjit Bakhshi, Head of Political Markets at Smarkets, joins the forum to discuss their contracts on the outcome of Brexit negotiations ahead of the December 31 deadline. To join the conversation at 4:30 pm IST, click here INDIA TOP NEWS India's November retail inflation eases, RBI seen to hold on rates India's retail inflation eased in November after holding above 7% for two straight months, but remained beyond the upper bound of the 2-6% target, meaning the central bank is likely to leave policy rates on hold to support the economy, analysts said. Indian farmers step up pressure with hunger strike against reforms Leaders of protesting Indian farmers began a one-day hunger strike on Monday against agricultural reforms they say threaten their livelihoods, stepping up pressure on Prime Minister Narendra Modi's government to withdraw the legislation. India receives multiple initial bids for state-run carrier Air India The Indian government said on Twitter it has received multiple bids for its stake in state-run carrier Air India, the auction for which ended on Monday evening. Apple supplier Wistron puts India plant damage at up to $7 million The ransacking of an iPhone manufacturing facility in India caused up to $7.12 million in damage though production facilities were not as badly hit as reported, its Taiwan-based operator Wistron said. Reliance Jio makes complaint to regulator about Bharti Airtel, Vodafone Idea Reliance Industries' telecom division has asked the Indian telecoms regulator to take action against rivals Bharti Airtel and Vodafone Idea for allegedly running a false propaganda campaign to attract its subscribers. Change in India's monetary policy framework unlikely, says RBI governor - Economic Times There is unlikely to be any change in the inflation target band or framework given to India's Monetary Policy Committee that is due for a review next year, Reserve Bank of India Governor Shaktikanta Das told Economic Times in an interview. India's fuel demand climbs for third straight month in November India's fuel consumption rose for a third straight month in November, helped by reviving transportation and business activity, although a year-on-year fall pointed to a sluggish economic recovery. Global litigation financiers plan India entry to target company disputes Some of the world's top litigation financiers like Australia's Omni Bridgeway and a unit of U.S. insurance broker Marsh Inc plan to tap the Indian market by funding the legal costs of disputes that embroil companies, executives told Reuters. SoftBank-backed India's Ola to invest $326 million in electric-scooter plant Ola, backed by Japan's SoftBank, said on Monday it planned to invest $326 million to set up a factory in the southern state of Tamil Nadu to produce electric scooters. GLOBAL TOP STORIES 'Democracy prevailed,' Biden says after U.S. Electoral College confirms his win President-elect Joe Biden delivered a forceful rebuke on Monday to President Donald Trump's attacks on the legitimacy of his victory, hours after winning the state-by-state Electoral College vote that officially determines the U.S. presidency. China's November industrial output steps up as recovery gathers pace China's industrial output grew in line with expectations in November, expanding for the eighth straight month as the economic recovery gathered pace and global demand picked up. U.S. FTC seeks data on how Facebook, Twitter, TikTok and others use personal data The Federal Trade Commission is seeking information from Facebook, Twitter and other social media and video streaming companies about how they use the personal information that they collect on their users, the U.S. agency said on Monday. STATE OF THE MARKETS SGX Nifty nearest-month futures were trading 0.4% lower at 13,543.50. - NewsRise The Indian rupee is expected to weaken against the dollar tracking losses in most regional currencies and equities. - NewsRise India bond yields are likely to open lower, after domestic retail inflation rate in November eased for the first time in three months. The yield on the benchmark 5.77% 2030 bond is likely to trade in a 5.90%-5.95% band. - NewsRise The S&P 500 ended lower on Monday, weighed down by Walt Disney, while Alexion Pharmaceuticals jumped on a $39 billion buyout offer from AstraZeneca in one of the year's biggest deals. Asian stocks drifted lower as worries about increasing COVID-19 deaths and lockdowns overshadowed optimism about the roll-out of coronavirus vaccinations. The dollar traded near 2-1/2-year lows against major peers as demand for the safest assets flagged amid progress toward agreeing U.S. fiscal stimulus and optimism for a Brexit deal. The Treasury yield curve steepened modestly on Monday, ahead of this week's Federal Reserve meeting, and as select hospitals were set to administer the first COVID-19 vaccines. Oil prices dipped, with demand worries due to tighter lockdowns in Europe outweighing relief from vaccination rollouts and concerns about a flare-up of tension in the Middle East. Gold prices were little changed as investors took stock of surging COVID-19 cases, vaccines inoculations and negotiations over a U.S. coronavirus fiscal relief package. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 73.53/73.56 December 14 5,037.42 crores 2,399.38 crores 10-yr bond yield 5.94% Month-to-date 38,420 crores 4,354 crores Year-to-date 1,46,666 crores (1,04,598) crores (FII investment numbers are in Indian rupees. Source: National Securities Depository Limited) 2 PICTURE OF THE DAY REUTERS/Rupak De Chowdhuri A woman makes models of Santa Claus inside her workshop ahead of Christmas, in Kolkata, December 14. © 2020 Refinitiv. All rights reserved. Refinitiv 3 Times Square, New York, NY 10036 [email protected] Please visit: Refinitiv for more information. click here privacy statement 3 .