To access a PDF version of this newsletter, please click here http://share.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN_02242020.pdf If you would like to receive this newsletter via email, please register at: http://solutions.refinitiv.com/MNCIndiaSubscriptionpage FACTORS TO WATCH 12:45 pm: SBI Chairman Rajnish Kumar at the launch of Microsoft-SBI Foundation collaboration in Mumbai. INDIA TOP NEWS • Trump departs for quick trip to India to see big crowds U.S. President Donald Trump departed on Sunday on quick trip to India, where he is to see crowds so large that they will make the much ballyhooed turnout for his campaign rallies pale in comparison. • India clarifies size of gold discovery in northern state India has clarified the nature of a gold discovery in Uttar Pradesh, after a government official said on Saturday that fields with reserves of more than 3,000 tonnes of gold ore had been found, prompting a flurry of activity on social media. • U.S. firm Hughes fears Indian closure, bank disruptions over unpaid fees U.S. satellite broadband provider Hughes Network Systems may have to shut its Indian operations due to unpaid levies owed to the government, which could put thousands of banking services at risk, a company letter seen by Reuters showed. • U.S. blacklisted Casimiro resigns from board of Indian refiner Nayara Energy Didier Casimiro, placed on a sanctions list by the United States earlier this week, on Friday resigned from the board of Indian refiner Nayara Energy, part-owned by Russian oil major Rosneft, company filings with the Indian government show. GLOBAL TOP NEWS • Global spread of coronavirus raises pandemic fears Fears grew that the coronavirus outbreak in China will grow into a pandemic with disruptive and deadly consequences for countries around the world, after sharp rises in infections in South Korea, Italy and Iran. • G20 finance heads eye impact of coronavirus outbreak on growth, see modest pickup Finance chiefs of the world's top 20 economies vowed to monitor the impact of the coronavirus outbreak on global growth and act if needed, as they said loose monetary policy and easing trade tensions would prompt a pick-up in 2020 and 2021. • China braces for inevitable big hit to economy from virus, says Xi China will step up policy adjustments to help cushion the blow to the economy from a coronavirus outbreak that authorities are still trying to control, President Xi Jinping was quoted as saying on Sunday. LOCAL MARKETS OUTLOOK (As reported by NewsRise) • SGX Nifty nearest-month futures were trading 0.7% lower at 11,952.50. • The Indian rupee is expected to fall against the dollar, tracking losses in Asian currencies and equities amid rising concerns about the spread of the coronavirus beyond China. • Indian government bonds are likely to open higher, tracking a sharp fall in U.S. Treasury yields and crude oil prices amid concerns over the spread of the coronavirus outside China. The yield on the benchmark 6.45% bond maturing in 2029 is likely to trade in a range of 6.38%-6.43% today. GLOBAL MARKETS • U.S. stocks sold off and the Nasdaq had its worst daily percentage decline in about three weeks on Friday as a spike in new coronavirus cases and data showing a stall in U.S. business activity in February fueled investors' fears about economic growth. • Global shares and oil slid while safe-haven gold surged as the spread of the coronavirus outside China darkened the outlook for world growth with infections and deaths rising in South Korea, Italy and the Middle East. • Asian currencies slid as the rapid spread of the coronavirus outside China drove fears of a pandemic and sent investors flocking to gold and the dollar for safety. • U.S. Treasury yields were down on Friday as mounting concerns about the economic impact of the coronavirus epidemic drove investors into safe-haven assets. • Oil prices tumbled as the rapid spread of the coronavirus in several countries outside China left investors fretting about a hit to demand. • Gold prices rose to their highest in over seven years, as a spike in coronavirus cases beyond China pushed investors to take refuge in the safe-haven metal. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 71.63/71.66 February 20 1,293.17 crore (3,246.99) crore 10-yr bond yield 6.42 pct Month-to-date 10,750 crore 10,619 crore Year-to-date 22,873 crore (1,029) crore 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 = 71.87 Indian rupees) (Compiled by Pranay Prakash in Bengaluru)