12:30 pm: Reserve Bank of India Deputy Governor N.S. Vishwanathan at national summit of NBFCs in New Delhi.
1:00 pm: Niti Aayog CEO Amitabh Kant to launch online nationwide mentor India campaign in New Delhi.
2:00 pm: Insolvency and Bankruptcy Board of India Chairperson M.S. Sahoo at conference on mergers and acquisitions in New Delhi.
3:00 pm: Larsen & Toubro Technology Services annual general meeting in Mumbai.
3:00 pm: IRB Infrastructure Developers annual general meeting in Mumbai.
3:00 pm: Tata Power annual general meeting in Mumbai.
4:00 pm: Energy Efficiency Services MD Saurabh Kumar, Central Electricity Regulatory Commission Chairperson Gireesh Pradhan at Environment and Energy Conclave in Kolkata.
6:30 pm: Infosys Founder Narayan Murthy to address investors in conference call in Mumbai.
GMF: GREEK PROGNOSIS We discuss the outlook for Greece in the context of Europe's economic recovery with Yannis Koutsomitis, European affairs analyst and Columnist at Eleftheria tou Typou weekly at 2:30 pm IST. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS • India grants Pfizer patent on pneumonia vaccine in blow to aid group India has granted Pfizer a patent for its powerful pneumonia vaccine Prevenar 13, in a blow to some health groups that said this would put the treatment out of reach of thousands in poorer nations.
• India bonds, FX markets muted as bank strike hits settlement India's bonds and exchange rate markets saw low volumes on Tuesday as a strike by most bank employees to protest bank consolidation and rise in bad loans was expected to hit settlement of trades, dealers said.
• Essar to pay $1.18/share to minority shareholders -statement Essar Group will pay 75.48 rupees ($1.18) apiece to the minority shareholders who tendered Essar Oil shares under a delisting offer ahead of the company's sale to a consortium led by Russian oil major Rosneft, the company said.
• Muslim divorce law "unconstitutional", rules India's top court India's Supreme Court on Tuesday ruled a Muslim instant divorce law unconstitutional, a landmark victory for Muslim women who have spent decades arguing that it violated their right to equality.
GLOBAL TOP NEWS • Trump's Afghan decision may increase U.S. air power, training The U.S. Air Force may intensify its strikes in Afghanistan and expand training of the Afghan air force following President Donald Trump's decision to forge ahead with the 16-year-old war, its top general told Reuters on Tuesday.
• U.S. targets Chinese, Russia entities for helping North Korea The United States on Tuesday imposed new North Korea-related sanctions, targeting Chinese and Russian firms and individuals for supporting Pyongyang's weapons programs, but stopped short of an anticipated focus on Chinese banks.
• Severe Typhoon Hato wreaks havoc in Hong Kong, flights cancelled, trading delayed Hong Kong braced for Typhoon Hato, a maximum category 10 storm on Wednesday, with hundreds of flights cancelled, trading in financial markets suspended and schools and most businesses in the Asian financial hub closed.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) • The SGX Nifty Futures was trading at 9,819.00, trading up 0.3 pct from its previous close.
• The Indian rupee will likely open slightly higher against the dollar, as hopes that U.S. President Donald Trump’s administration may be able to pass tax reforms supported risk appetite.
• Indian government bonds are likely to edge lower as the market prepares for a fresh supply of notes this week. The yield on the benchmark 6.79 pct bond maturing in 2027 is likely to trade in a 6.52 pct-6.57 pct band.
GLOBAL MARKETS • U.S. stocks ended up on Tuesday, with each of the three major indexes posting their best one-day percentage gains in over a week, as lawmakers' comments on tax reform and the debt ceiling boosted investor optimism.
• Asian stocks steadied, taking a breather after the previous day's surge and unable to keep up with a global rally spurred by gains for tech shares on Wall Street and miners in Europe.
• The dollar edged higher against a basket of currencies, after getting a boost the previous day as investors adjusted positions ahead of a global central bankers' conference later this week.
• U.S. Treasury yields rose on Tuesday as investors awaited speeches by top central bankers later in the week for signals about monetary policy, and in the absence of major economic data.
• Oil prices fell, squeezed between concerns of oversupply, sparked by rising Libya output, and fears of reduced future investment in the industry.
• Gold edged lower on a firm dollar, with investors looking for direction from geopolitical headlines and a key annual central banking conference this week in Jackson Hole in the United States.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 64.11/64.14 August 22 -$129.4 mln $183.93 mln 10-yr bond yield 6.8 pct Month-to-date -$1.76 bln $1.52 bln Year-to-date $7.22 bln $22.67 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] ($1 = 64.10 Indian rupees) (Compiled by Nivedita Balu in Bengaluru)
