11:00 am: Budget session of parliament continues in New Delhi.
3:15 pm: Bank of India media briefing after third-quarter earnings in Mumbai.
LIVECHAT- EURO CLEARING Colin Lloyd has been following the ebb and flow of financial markets for more than 30 years. He writes regularly on commodities, money markets, capital markets and foreign exchange. He joins the forum at 3:30 pm to discuss the outlook for currency derivatives and euro clearing in this volatile political climate. To join the conversation, click on the link: https://forms.thomsonreuters.com/communities/ INDIA TOP NEWS RBI signals end to rate cuts as inflation risks rise The Reserve Bank of India kept its policy rate on hold on Wednesday and unexpectedly signalled an end to its longest easing cycle since the global financial crisis, saying inflation poses a bigger threat to the economy than a crackdown on "black money." Cipla looks to boost US business as Q3 profit beats estimates Cipla Ltd's third-quarter profit beat estimates due to higher sales in the United States, and the company said it was looking for licensing deals and acquisitions to build its speciality medicines pipeline in that market.
National Stock Exchange names IDFC's Vikram Limaye as CEO National Stock Exchange named Vikram Limaye, the CEO of infrastructure lender IDFC Ltd, as its new chief executive as the country's largest bourse gears up for a much-awaited initial public offering this year.
Infosys defends decisions after media report of governance concerns Infosys Ltd, India's second-biggest software services exporter, on Wednesday said it had already addressed concerns about executive pay after media reported that its founders had complained about decisions including a pay hike for Chief Executive Vishal Sikka.
RBI deputy says "bad bank" could help if designed right The Reserve Bank of India deputy governor on Wednesday joined the debate over creating a so-called "bad bank" to handle record sour assets in the nation's banks, saying it could help if "designed properly".
Indian airports face capacity crunch as market booms India's aviation industry risks a capacity crunch as an expansion in landing slots and terminals fails to keep pace with the number of jets entering the market and rapid growth in demand from travellers, executives warned on Wednesday.
MobiKwik in talks to raise funds, eyes $1 bln valuation -CEO Mobile payments and digital wallet firm MobiKwik says it is in talks to raise more funds at a level that would give the start-up a $1 billion valuation, as it pushes to forge new ties with banks and offer new financial services on its platform.
JSW Infrastructure aims to list shares in 2018/19 JSW Infrastructure Ltd, owned by billionaire Sajjan Jindal, plans to list its shares on local bourses in 2018/19 as it draws an expansion plan to increase operating profit and cargo-handling capacity, a company official said.
India scraps funding ties with Gates Foundation on immunisation A group backed by the Bill & Melinda Gates Foundation that works on India's immunisation programmes will now be funded by the health ministry, a government official said, a move in part prompted by fears foreign donors could influence policy making.
GLOBAL TOP NEWS Sessions confirmed as U.S. attorney general after battle with Democrats A bitterly divided U.S. Senate confirmed Republican Senator Jeff Sessions on Wednesday as the next attorney general of the United States after strong pushback from Democrats concerned about his record on civil rights.
UK PM May quashes attempts to derail her Brexit plan in parliament Prime Minister Theresa May won approval from parliament's lower chamber on Wednesday to trigger Britain's exit from the European Union, defeating attempts by pro-EU lawmakers to attach extra conditions to her plan to start divorce talks by March 31.
U.S. court blocks Anthem-Cigna deal, dealing blow to consolidation A federal judge on Wednesday ruled against U.S. health insurer Anthem Inc's proposed $54 billion merger with smaller rival Cigna Corp, derailing an unprecedented effort to consolidate the country's health insurance industry.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) The SGX Nifty Futures were at 8,827.00, up 0.18 pct from its previous close The Indian rupee is poised to open higher against the dollar, helped by sustained greenback selling by markets participants, including exporters, even global risk appetite remains jittery amid economic and political uncertainty.
Indian government bonds will likely edge lower, after the Monetary Policy Committee kept the repurchase rate unchanged and shifted its policy stance to neutral from accommodative. The yield on the benchmark 6.97 pct bond maturing in 2026 is likely to trade in a 6.70 pct-6.80 pct band today. The bond closed at 101.55 rupees, the lowest since Nov. 8, yielding 6.75 pct, yesterday.
GLOBAL MARKETS The S&P 500 ended slightly higher on Wednesday as investors digested mixed earnings reports, while the Dow Jones Industrial Average slipped as bank stocks weighed.
Asian stocks looked set to consolidate around four-month highs as a cautious Wall Street close and growing political risks in Europe force investors to the sidelines.
The dollar drooped against its peers hovering near a 10-week low versus the yen, with a slide in U.S. Treasury yields amid investor flight to safety taking a toll on the currency.
U.S. Treasury yields fell to their lowest levels in multiple weeks on Wednesday with 5-year note yields hitting their lowest since Dec. 8 as a flight to safety and technical positioning encouraged investors to buy U.S. government debt.
Oil prices stabilised boosted by an unexpected draw in U.S. gasoline inventories, although bloated crude supplies meant that fuel markets remained under pressure.
Gold slipped from 3-month highs on profit taking, but political risks from elections in Europe and worries over U.S. President Donald Trump's policies supported safe haven demand for bullion.
CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 66.96/66.99 February 8 -$19.09 mln -$123.98 mln 10-yr bond yield 7.05 pct Month-to-date $181.68 mln $585.55 mln Year-to-date $175.29 mln $473.47 mln 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 = 67.19 Indian rupees) (Erum Khaled in Bengaluru)
