Morning News Call - India, December 8

To access the newsletter, click on the link: http://share.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN_12082015.pdf FACTORS TO WATCH 9:15 am: RBI Deputy Governor S.S.Mundra to speak at India Finance Summit.

10:00 am: DIPP Secretary Amitabh Kant to speak at an industry body event.

10.00 am: SEBI Chairman U.K.Sinha to speak at an event.

10:30 am: Junior Finance Minister Jayant Sinha to inaugurate conference of State Finance Secretaries.

11:00 am: Winter session of parliament continues.

11:30 am: Fitch Ratings Director Thomas Rookmaaker to brief media.

4.00 pm: Heavy Industries Minister Anant Geete to address industry body event.

CHINA FOCUS- Join Ho-Fung Hung, Author of The China Boom: Why China Will Not Rule the World and an associate professor at Johns Hopkins Sociology at 8.30 am IST to discuss his views on view China with a focus on East Asia. To join the Global Markets Forum, click on the link: https://forms.thomsonreuters.com/communities/">https://forms.thomsonreuters.com/communities/ Solving India's Traffic Nightmare- Join Dinesh Mohan, Volvo Chair for Transportation Planning and Safety at 11.00 am IST to discuss on Delhi's odd-even formula for traffic management and how does it perform in real life, and what are the other steps needed to curn the traffic menance? To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/">https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS  India's GMR Group plans to raise $1 bln as it eyes turnaround Indian infrastructure company GMR Group plans to raise at least $1 billion over the next two years to cut debt, repay investors in its airports business and prepare for a new phase of growth, its chief financial officer said on Monday.

 GM says Kaher Kazem to head India unit from Jan. 1 General Motors Co said on Monday Kaher Kazem will become head of its India unit effective Jan. 1 after the current chief, Arvind Saxena, retires as general manager at year-end.

 Japan poised to win India's bullet train deal - Nikkei Japan is expected to win the right to construct India's first bullet train, after losing an Indonesian high-speed rail deal to China, the Nikkei business daily reported.

 AIA Group to up stake in Indian life insurance JV with Tata AIA Group Ltd has agreed to raise its stake to 49 percent in its life insurance joint venture with India's Tata Sons Ltd, the Indian group said on Monday.

GLOBAL TOP NEWS  Wary of debt cliff, Australia seeks soft landing for housing Australia is attempting to let the air out of a housing bubble without also deflating a vital source of economic growth or stressing a deeply-indebted household sector.

 Triumphant Venezuela opposition looks to boost economy, free prisoners Venezuela's opposition vowed on Monday to revive the OPEC nation's troubled economy and free jailed political activists after winning control of the legislature for the first time in 16 years of Socialist rule.

 Donald Trump urges ban on Muslims entering United States Republican presidential front-runner Donald Trump on Monday called for a ban on Muslims entering the United States in the most dramatic response by a candidate yet to last week's shooting spree by two Muslims who the FBI said had been radicalized.

LOCAL MARKETS OUTLOOK (As reported by NewsRise)  The SGX Nifty Futures was trading at 7,755.50, down 0.69 percent from its previous close.

 The Indian rupee will likely open lower against the U.S. dollar, in line with its Asian peers, as fall in oil prices weighed on global stock indices. Broad gains in the greenback are also seen hurting the local currency.

 Indian government bonds are likely to edge higher, tracking a slump in crude oil prices that could help ease domestic inflation and open up more space for monetary easing, traders said. The yield on the benchmark 7.72 percent bond maturing in 2025 is likely to trade in a 7.72 percent-7.77 percent range.

GLOBAL MARKETS  U.S. stocks fell on Monday, led by the S&P energy index's biggest one-day percentage drop since late August as oil prices slid to their lowest point in nearly seven years.

 Asian stock markets teetered near their weakest levels in three weeks, as a rout in oil prices to near seven-year lows knocked global energy company shares and commodity currencies.

 The U.S. dollar was broadly firmer early and at decade-highs against its Canadian peer, which along with the Norwegian crown slid sharply on the back of a tumble in oil prices.

 U.S. long-dated Treasury debt prices rallied on Monday, boosted by the drop in oil prices which suggests inflation in the world's largest economy would remain benign.

 Crude prices remained near 7-year lows in early Asian trading as OPEC continues to pump near record oil to defend market share, compounding a glut that is seeing hundreds of thousands of barrels produced every day in excess of demand.

 Gold struggled to recover from overnight losses on expectations of a Federal Reserve rate hike next week and a robust dollar.

MARKETS CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 66.76/66.79 December 7 -$9.74 mln -$82.27 mln 10-yr bond yield 7.76 pct Month-to-date -$623.54 mln -$165.69 mln Year-to-date $2.64 bln $9.32 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 = 66.73 Indian rupees) (Reporting by Samarendra Sahoo in Bengaluru)

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