5:00 pm: RBI to release weekly foreign exchange data.
6:00 pm: Oil Minister Dharmendra Pradhan at concluding session of India-Africa Hydrocarbons conference.
DAVOS LIVECHAT - Stephen Pagliuca, Managing Director, Bain Capital, joins us live at 1230 IST from the World Economic Forum in Davos for a chat about the outlook for the M&A sector and whether pressure on the high-yield market will hamper the leveraged-buyout scene. To join the Global Markets Forum, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS PM Modi may bet on old faces and new to regain winning ways Prime Minister Narendra Modi may look to press the reset button on his leadership this spring to reinvigorate stalled economic reforms and appease critics, eyeing a mix of tried and tested allies and fresh blood, senior government sources said.
Indian banks to get commission for unlocking household gold-cbank The Indian government will pay banks a 2.5 percent commission to unlock the country's massive stash of gold under a new monetisation scheme, the central bank said, as the ambitious plan received a poor response from banks and customers.
Idea cellular Q3 net profit misses estimates on higher charges Idea Cellular Ltd, India's third-biggest mobile phone operator, said quarterly net profit fell 0.4 percent, missing expectations, weighed down by higher finance charges.
India issues alert to deter use of Roche's Avastin drug for eyes India's federal drugs controller issued an alert on Thursday, asking states to ensure Swiss drugmaker Roche's cancer treatment Avastin was not administered to treat eyes, after its usage hampered vision in 15 patients.
India develops 3 lentil varieties to cut imports, curb prices India has developed three lentil varieties of a particular strain that was banned five decades ago amid concerns that it led to nerve damage and paralysis, a move aimed at stepping up local supplies to curb domestic prices and cut imports.
Interglobe Aviation Q3 profit rises 24 percent Interglobe Aviation Ltd, which operates India's largest airline IndiGo, reported a 23.7 percent increase in net profit for the third quarter on higher passenger traffic and lower oil prices.
Housing.com raises $14.7 mln from SoftBank India's Housing.com said it had received 1 billion rupees in fresh funding from its largest investor SoftBank Group Corp, months after a restructuring that saw hundreds of job cuts at the real estate classifieds company.
GLOBAL TOP NEWS ECB raises prospect of March policy easing as outlook sours Fading growth and inflation prospects will force the European Central Bank to review its policy stance in March, President Mario Draghi said on Thursday, a strong signal that more easing could be coming within months.
As Chinese defaults rise, private placements sweep risks under mat Chinese brokers are directing large amounts of capital fleeing China's tumbling stock market into high-yielding private debt, aiding embattled corporates but also raising risks for buyers including mutual funds, trusts and ultimately retail investors.
Australia considers tighter anti-money laundering rules for real estate, gems Australia is considering tightening its anti-money laundering regulations to include real estate agents and precious stone dealers, sources said, following red flags from a global watchdog over potential illicit cash entering the country.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) The SGX Nifty Futures was trading at 7,358.50, up 0.73 percent from its previous close.
The Indian rupee will likely edge higher against the U.S. dollar, in line with most Asian peers, on improved risk appetite amid expectations of a monetary stimulus in Europe and sustained recovery in crude oil prices.
Indian government bonds are likely to extend gains for a fourth straight day, on speculation the rupee will strengthen against the dollar after the European Central Bank hinted at monetary policy easing, boosting demand for emerging market assets. The yield on the benchmark 7.72 percent bond maturing in 2025 is likely to trade in a 7.72 percent-7.78 percent range.
GLOBAL MARKETS Wall Street staged a modest rally on Thursday as oil prices recorded their biggest gain this year and ECB President Mario Draghi raised hopes of more stimulus for Europe.
Asian stocks gained early, after the markets were given some breathing space when the European Central Bank hinted of more monetary policy easing, while crude oil extended an overnight rally.
The dollar firmed slightly against a basket of currencies early, as traders were caught in a tug-of-war between rising expectations of monetary easing by other major central banks and fading hopes for more rate hikes from the Federal Reserve.
U.S. Treasuries prices fell on Thursday with benchmark yields rising from 3-1/2-month lows as a rebound on Wall Street and in the oil market scaled back appetite for low-risk government debt, but jitters remained on further losses in those sectors.
Oil prices rose for a second session, moving further away from 12-year lows plumbed earlier this week, as cold U.S. and European weather as well as firmer financial markets gave some traders reason to cash in on record short positions.
Gold slipped as the euro fell after the European Central Bank hinted at further policy easing amid turmoil in global markets and weaker growth across emerging economies.
MARKETS CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 67.78/67.81 January 21 -$257.60 mln -$40.87 mln 10-yr bond yield 7.75 pct Month-to-date -$1.40 bln $157.17 mln Year-to-date -- -- 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 = 68.02 Indian rupees) (Reporting by Samarendra Sahoo in Bengaluru)
