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Morning News Call – India, August 24 – Reuters India


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Morning News Call – India, August 24 – Reuters India

Aug 24 (Reuters) – To access a PDF version of this newsletter, please click here here If you would like to receive this newsletter via email, please register at: here FACTORS TO WATCH 10:15 am: Punjab National Bank Managing Director & Chief Executive S.S. Mallikarjuna Rao at post earnings web conference, in Mumbai. PROMOTION LIVECHAT…

Morning News Call – India, August 24 – Reuters India
    Aug 24 (Reuters) - To access a PDF version of this newsletter, please click
here here
    
    If you would like to receive this newsletter via email, please register at:
here
    
    
    FACTORS TO WATCH
    10:15 am: Punjab National Bank Managing Director & Chief Executive S.S.
Mallikarjuna Rao at post earnings web conference, in Mumbai.

    
    PROMOTION
    LIVECHAT - REUTERS GLOBAL MARKETS FORUM
    Wayne Cole, Reuters Chief Treasury Correspondent in Sydney, joins us to
discuss the themes to watch for markets in the week ahead. To join the
conversation, click on the link: refini.tv/2P8N0Wp
    
    
    INDIA TOP NEWS
    • India reported a record daily jump of coronavirus infections on Saturday,
bringing the total near 3 million and piling pressure on authorities to curb
huge gatherings as a major religious festival began.
    • Facebook is a non-partisan platform which denounces hate and bigotry, the
company's India head said on Friday, amid a controversy over how the U.S. social
media giant regulates political content in its biggest market by number of
users.
    • One of India's most prominent lawyers faces a Monday deadline to apologise
to the Supreme Court or risk jail in a case testing the judiciary's openness to
criticism and sparking a debate on freedom of speech in the world's largest
democracy.
    • India's soybean production could jump by 32% in 2020 to 12.25 million
tonnes from a year earlier due to higher area under the oilseed and as the
yields are expected to rise on ample monsoon rainfall, a leading trade body said
on Friday.   
    

    GLOBAL TOP NEWS
    • Trump hails FDA's authorization of plasma treatment for coronavirus, after
slamming agency
    President Donald Trump on Sunday hailed FDA authorization of a coronavirus
treatment that uses blood plasma from recovered patients, a day after accusing
the agency of impeding the rollout of vaccines and therapeutics for political
reasons.
    • Shenzhen's ChiNext challenges Shanghai, adds fuel to 'technology war' with
U.S.
    As companies prepare to list on the start-up board ChiNext under a new
U.S.-style IPO system, China's Shenzhen will officially challenge Shanghai for
tech listings, while adding fuel to a "technology war" with the United States.

    • Another hospital visit by Japan PM Abe stokes health worries
    A motorcade carrying Japanese Prime Minister Shinzo Abe entered a Tokyo
hospital again stoking concerns about his ability to continue as leader due to
health issues and fatigue from handling the coronavirus crisis.
    
    
    LOCAL MARKETS OUTLOOK
    (As reported by NewsRise)
    • SGX Nifty nearest-month futures were trading 0.4% higher at 11,422.50.
    • The Indian rupee is expected to trade little changed against the U.S.
currency as the dollar index remains subdued ahead of Federal Reserve Chair
Jerome Powell’s policy review speech later this week.
    • India government bond yields are likely to rise in early session, as
sentiment remains weak amid dwindling bets of a policy rate cut in the coming
months and lack of immediate measures by the central bank to offset supply
concerns. The yield on the benchmark 5.79% bond maturing in 2030 is likely to
trade in a range of 6.12%-6.18. 
    
    
    GLOBAL MARKETS
    • The S&P 500 and Nasdaq closed at record highs on Friday, with both lifted
by Apple after data pointed to some pockets of strength in the U.S. economy.

    • Asian shares advanced for a second straight session, underpinned by
coronavirus hopes after the U.S. Food & Drug Administration (FDA) authorised the
use of blood plasma from recovered patients as a treatment option.
    • The dollar steadied against major currencies as traders looked to more
data for a gauge on the health of the global economy and the Federal Reserve's
annual Jackson Hole retreat for guidance on the outlook for U.S. monetary
policy.
    • U.S. Treasury yields were mixed as the market drifted in light trading and
looked ahead to next week's Federal Reserve Jackson Hole virtual economic policy
conference and $148 billion of note sales.
    • Crude oil prices nudged higher as storms bore down on the Gulf of Mexico,
shutting more than half the region's oil production, although gains were capped
by ongoing concerns about demand from coronavirus lockdowns.
    • Gold slipped as the dollar steadied near a more than one-week high, while
investors awaited Federal Reserve Chairman Jerome Powell's speech at Jackson
Hole later this week for clarity on the direction of U.S. monetary policy.

    
    
              CLOSE       FII INVESTMENTS  EQUITIES         DEBT
 PNDF spot    74.87/74.9  August 21        (161.28) crores  (1113.63) crores
 10-yr bond   6.14%       Month-to-date    40,262 crores    (580) crores
 yield                                                      
                          Year-to-date     29,312 crores    (1,10,015) crores
 
    
    (FII investment numbers are in Indian rupees. Source: National Securities
Depository Limited)

    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 = 74.92 Indian rupees)
 

 (Reporting by Pooja Kesavan in Bengaluru)
  

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