10:30 am: Trade union, social sector and agriculture sector representatives to meet Finance Minister Arun Jaitley, the first of the pre-budget meetings in New Delhi.
3:00 pm: CBEC Commissioner Sandeep Kumar to address press meet on the United Nations TIR Convention in New Delhi.
4:00 pm: Commerce Minister Suresh Prabhu and Junior Commerce Minister C.R. Chaudhary at mid-term review of Foreign Trade Policy in New Delhi.
INDIA TOP NEWS • India asks UK court to extradite tycoon on fraud charges India asked a London court on Monday to extradite tycoon Vijay Mallya to face fraud charges of palming off losses from his failing Kingfisher Airlines onto a state-owned bank.
• Trade union sets deadline in talks over Thyssenkrupp Tata Steel deal German labour union IG Metall has given Thyssenkrupp until December 22 to agree guarantees on jobs, plants and investment if the company is to get the union's backing for its deal with Tata Steel to merge their European steel operations.
• Indian public relations firm files insolvency plea against RCom Fortuna Public Relations Pvt. Ltd has filed an insolvency petition against phone carrier Reliance Communications Ltd over a claim for unpaid dues of 4.4 million rupees, a lawyer representing the public relations firm said on Monday.
• Growth, healing: New CEO faces twin tests at India's Infosys Investors on Monday cheered the appointment of Infosys Ltd's new chief executive, in hopes the Indian IT services firm can move past a costly boardroom spat, though questions remain over how the new boss will navigate strained corporate ties internally.
• Indian oil refiners issue tanker tenders aimed at boosting domestic shipping Two of India's state-owned oil refiners have issued tenders seeking to charter tankers for at least five years while giving preference to Indian companies, tender documents reviewed by Reuters showed, which would boost domestic shipping firms battered by slumping tanker rates.
GLOBAL TOP NEWS • U.S. top court lets Trump's latest travel ban go into full effect The U.S. Supreme Court on Monday handed a victory to President Donald Trump by allowing his latest travel ban targeting people from six Muslim-majority countries to go into full effect even as legal challenges continue in lower courts.
• Philippines halts sale of Sanofi dengue vaccine amid health risk The Philippines has ordered French drugmaker Sanofi to stop the sale, distribution and marketing of its Dengvaxia dengue vaccine in the country after the company last week warned it could worsen the disease in some cases.
• Ex-president Saleh dead after switching sides in Yemen's civil war Veteran former president Ali Abdullah Saleh was killed in a roadside attack on Monday after switching sides in Yemen's civil war, abandoning his Iran-aligned Houthi allies in favour of a Saudi-led coalition, foes and supporters said.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) • The SGX Nifty Futures were at 10,135.00, down 0.24 percent from its previous close.
• Indian government bonds are likely to fall in early trade ahead of a state supply of notes later today. Investors are also awaiting the Monetary Policy Committee' decision due tomorrow. The yield on the benchmark 6.79 percent bond maturing in 2027 is likely to trade in a 7.06 percent-7.11 percent band.
• The Indian rupee will likely open a tad higher, as the dollar rally slowed amid caution the U.S. Senate now needs to reconcile the version of the tax bill it passed over the weekend with that approved by the House of Representatives GLOBAL MARKETS • The Dow Jones Industrial Average reached a record high on Monday, with banks and retailers surging and technology companies falling as investors realigned their portfolios in hopes of benefiting from expected corporate tax cuts.
• Asian shares were subdued as investors' rotation out of technology shares took the toll on some of the region's tech heavyweights although hopes of a major tax cut in the United States underpinned risk sentiment.
• The dollar held on to modest gains against its peers, with its rise made at the week's start slowing as the market awaited the next phase of the U.S. tax reform saga for cues.
• U.S. Treasury yields dropped on Monday but remained higher than their levels late on Friday, boosted by increased confidence that the U.S. Congress would enact tax cut legislation after the Senate passed a bill early Saturday.
• Oil markets rose in early Asian trade, buoyed by expectations of a drop in U.S. crude stockpiles and after last week's deal between OPEC and other crude producers to extend output curbs.
• Gold was steady, supported by a slightly weaker dollar, after falling in the previous session as proposed changes to U.S. tax rules that could lead to faster economic growth moved a step closer.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 64.36/64.39 December 4 -$51.89 mln -$5.28 mln 10-yr bond yields 7.13 pct Month-to-date - - Year-to-date $8.60 bln $25.73 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 = 64.37 Indian rupees) (Compiled by Shradha Singh in Bengaluru)
