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 • 9:30 am: Junior Finance Minister Anurag Thakur at the ‘Real Estate and Housing Finance in India’ conference in New Delhi. • 9:45 am: Finance Minister Nirmala Sitharaman at Kashmironomics Conclave 2019 in New Delhi. LIVECHAT - EQUITIES WATCH Reuters stocks correspondent in London and New York take questions on the latest developments on bourses on both sides of the Atlantic at 7:30 pm IST. To join the conversation, click on the link: refini.tv/2P8N0Wp INDIA TOP NEWS • India probe finds bearings collusion by SKF, Schaeffler, Tata Steel units An Indian antitrust investigation has found that units of Tata Steel, Sweden's SKF and Germany's Schaeffler colluded on the pricing of bearings, a report seen by Reuters shows, opening them up to potential fines. • POLL-Indian stock gains to be limited in 2020 as economy slows Indian stocks are set to rise further over the coming year, according to a Reuters poll of equity strategists, but those gains will be limited as fiscal stimulus and easy monetary policy fail to reverse an economic slowdown. • Investors fret as SEBI bars brokerage Karvy over alleged misuse of client funds A ban by India's market regulator on Karvy Stock Broking from taking on new clients and executing trades for allegedly misusing client securities has unnerved the country's retail investors. • India asks state-run firms to clear over $1 billion owed to green energy firms -sources India has asked state lenders to provide over $1 billion to government power distribution companies to clear longstanding debts to green energy firms that could hinder further investment, three sources familiar with the plan said on Tuesday. • India steel minister expects to increase coking coal imports from Russia India's Steel Minister Dharmendra Pradhan said on Tuesday he was confident India's imports of coking coal from Russia would increase significantly in coming months, adding that steelmakers had started testing samples of Russian coal. GLOBAL TOP NEWS • U.S.-China trade deal close, Trump says; negotiations continue The United States and China are close to agreement on the first phase of a trade deal, U.S. President Donald Trump said on Tuesday, after top negotiators from the two countries spoke by telephone and agreed to keep working on remaining issues. • China's industrial profits post steepest fall in 8 months Profits at China's industrial firms declined in annual terms for the third consecutive month in October, tracking sustained drops in producer prices and exports and underscoring slowing momentum in the world's second-largest economy. • U.S. consumer confidence ebbing; housing market firming U.S. consumer confidence fell for a fourth straight month in November amid worries about current business conditions and employment prospects, but remained at levels sufficient to support a steady pace of consumer spending. LOCAL MARKETS OUTLOOK (As reported by NewsRise) • SGX Nifty nearest-month futures were little changed at 12,082.50. • The Indian rupee is expected to open little changed against the dollar amid month-end fund flows and the latest remarks of President Donald Trump on the U.S.-China interim trade deal. • Indian government bonds are likely to open lower, tracking an uptick in crude oil prices overnight on renewed hopes of a trade truce between the United States and China. The yield on the benchmark 6.45% bond maturing in 2029 is likely to trade in a range of 6.46%-6.51%. GLOBAL MARKETS • U.S. stocks crawled higher on Tuesday, and all three major Wall Street indexes notched record levels, as upbeat comments by President Donald Trump on trade talks eclipsed some softer-than-anticipated economic data. • Asian shares ticked higher as more upbeat signals from Sino-U.S. trade talks fanned hopes of an imminent end to tariff hostilities, which helped offset concerns about a slowing U.S. economy. • Major currencies hardly budged as traders looked ahead to the final outcome of U.S.-China trade talks and a shortened holiday week in the United States. • U.S. Treasury yields fell alongside British government debt on Tuesday, while expectations that the Federal Reserve will keep rates on hold kept the yield curve near its flattest level in almost a month. • Oil fell after an industry report showed an unexpected build in U.S. crude inventories, but optimism around the signing of the first phase of a U.S.-China trade deal capped a deeper slide in prices. • Gold prices inched lower after U.S. President Donald Trump said an interim trade deal with China is close, boosting demand for riskier assets. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 71.53/71.56 November 26 1,986.63 crore (364.71) crore 10-yr bond yield 6.47% Month-to-date 20,141 crore 219 crore Year-to-date 88,694 crore 33,075 crore 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 = 71.77 Indian rupees) (Compiled by Pranay Prakash in Bengaluru)
