10:00 am: Supreme Court to continue hearing of Unitech plea against NCLT in New Delhi.
12:00 pm: IT Minister Ravi Shankar Prasad to brief media on BPO promotion scheme in New Delhi.
1:00 pm: Aviation Ministry weekly briefing in New Delhi.
2:00 pm: Finance Minister Arun Jaitley, Oil Minister Dharmendra Pradhan at ASEAN-India Partnership in New Delhi.
3:15 pm: Prime Minister Narendra Modi at FICCI’s annual general meeting in New Delhi.
INDIA TOP NEWS • India's Nov retail inflation breaches central bank's 4 pct target India's retail inflation in November breached the central bank's medium-term target of 4 percent, which could put pressure on it to raise policy rates in 2018.
• India's markets regulator probes prescient messages in WhatsApp groups India’s market regulator is “seriously” looking into the issue of prescient messages on company results circulated by market insiders in private WhatsApp groups, its chairman said on Tuesday, a sign the investigation is gaining momentum.
• Punjab National Bank raises $777 mln in share sale - sources Punjab National Bank has raised 50 billion rupees from a share sale to institutional investors, sources with direct knowledge of the transaction said on Tuesday.
• India's Reliance considers listing telecoms unit Jio by early 2019 - Bloomberg India's Reliance Industries Ltd is holding internal talks about listing its telecoms unit Jio by late 2018 or early 2019, Bloomberg reported on Tuesday, citing people it did not identify.
• India's Syndicate Bank seeks up to $186.4 mln in share sale - sources Indian state-run Syndicate Bank Ltd has launched a share sale to institutional investors, seeking to raise up to 12 billion rupees to help boost its capital ratio, sources with direct knowledge said on Tuesday.
• India's InterGlobe Aviation founders to sell 2.91 pct stake for $197 mln InterGlobe Aviation Ltd the owner of India's biggest airline IndiGo, on Tuesday said two of its founder group companies will in this week sell a combined 2.91 percent stake in the company worth about 12.65 billion rupees.
• Warburg Pincus to buy 20 pct stake in Bharti Airtel's DTH arm for $350 mln Bharti Airtel Ltd on Tuesday said an affiliate of U.S. private equity firm Warburg Pincus will buy up to a 20 percent stake in the Indian telecom operator's direct-to-home arm for $350 million.
GLOBAL TOP NEWS • Republican Moore holds slight lead in bitter U.S. Senate race in Alabama A bitter U.S. Senate race in Alabama with high stakes for President Donald Trump was too close to call on Tuesday, with Republican Roy Moore leading despite allegations against the candidate of sexual misconduct toward teenagers.
• Tillerson says U.S. ready to talk to N.Korea; Kim promises more weapons U.S. Secretary of State Rex Tillerson offered to begin direct talks with North Korea without pre-conditions, backing away from a key U.S. demand that Pyongyang must first accept that giving up its nuclear arsenal would be part of any negotiations.
• Australia c.bank gov says bitcoin fascination is "speculative mania" The fascination with virtual currencies feels more like a "speculative mania", the head of Australia's central bank said on Wednesday, just days after the launch of the world's first bitcoin futures.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) The SGX Nifty Futures were at 10,245.00, trading down 0.11 percent from its previous close.
Indian government bonds are likely to fall in early trade after the nation’s retail inflation accelerated to its highest in 15 months, further reducing the scope for monetary easing. The yield on the benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 7.22 percent-7.28 percent band. Yesterday, the note closed at 97.28 rupees, the lowest since its issuance on May 12.
The Indian rupee will likely edge lower against the dollar, as the nation’s retail inflation jumped to a 15-month high last month, while industrial output grew at its slowest pace in three months in October.
GLOBAL MARKETS • The S&P 500 and the Dow industrials registered record closing highs on Tuesday with a boost from bank stocks as investors eyed a potential cut in U.S. corporate taxes and continued economic growth after strong inflation data.
• Asian shares were treading water in early trade as crude oil futures steadied after a selloff, while a widely expected interest rate hike from the Federal Reserve underpinned the dollar.
• The dollar stood near a four-week high against a basket of currencies after strong U.S. wholesale price figures kept the Federal Reserve on track for a widely-expected rate rise this week and more in 2018.
• U.S. Treasury yields rose on Tuesday as stronger-than-forecast data on producer prices in November offset average demand at a $12 billion auction of 30-year bonds.
• Oil prices rose in early Asian trade as industry data showed a larger-than-expected drawdown in U.S. crude stockpiles.
• Gold prices were almost unchanged after hitting their lowest in nearly five months in the previous session, with investors in 'wait-and-see' mode ahead of the outcome of a two-day meeting of the U.S. Federal Reserve.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 64.47/64.50 December 12 $130.09 mln $178.11 mln 10-yr bond yields 7.21 pct Month-to-date -$649.19 mln $363.96 mln Year-to-date $8.04 bln $26.10 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 = 64.4000 Indian rupees)
