Market Information as on January 7, 2019

*WHAT TO WATCH:*
• India Opposition Parties Join to Fight Modi in Key State
• India RCom Says It’s Committed to Making Payments to Ericsson
• 39 Stocks To Exit India Regulator’s Surveillance Measures Plan
• India ONGC Videsh Makes Second Oil Discovery in Colombian Block
• Funds Need to Offer Shares for India Regulator’s Derivative Plan
• India Regulator Seeks Details of AI Apps, System Used by Brokers
• India Lawmakers’ Panel Seeks Gas Subsidy to Revive Power Plants
• India Top Court to Hear RCOM’s Plea on Spectrum Sale to Jio Jan. 7
• India Panel Seeks Cheaper Loans to Make Hydel Projects Viable
• Amazon and Walmart Team Up to Fight New Indian E-Commerce Rules
• OPEC Strategy Still a Winner for Members Despite Oil Slump
• Forex Reserves Rise $116.4m to $393.4b in a Week to Dec. 28
• Global Funds Sell Net INR7.36B of India Equity Derivatives on Jan. 4
o Global Funds Sell Net 1.58B Rupees of India Stocks Jan. 4: NSE
o Foreign Investors Sell Net INR10.6b Indian Equities on Jan. 3
• EU Steel-Import Curbs Countering Trump Tariff to Last Into 2021
• Seven Key Issues to Determine Success of U.S.-China Trade Talks
• U.S.-China Trade Talk, Fed’s Powell Speaks: Week Ahead Jan. 7-12

*MEDIA REPORTS:*
• India Missing Its Direct Tax Collections Target, Standard Says
• India’s State-Owned Defense Firm Borrows to Meet Staff Costs: ET
• India Will Review Pratt & Whitney Engine Safety, Standard Says
• IndiGo Airbus Jet Turns Back After Pratt Engine Fault, TOI Says
• Indian Oil Looks to Raise up to $1.5B From Intl Bond Sale: PTI
• Jet Airways to Meet With Vendors, Lessors, SBI Jan. 8: Reuters
• Vedanta’s Zambia Unit to Suspend Operations on Mine Tax, ND Says
• India Exim Bank May Tap Japan to Raise Funds via Bonds: Standard
• India Opposition Parties Join to Fight Modi in Key State: TOI
• Indian Court Declares Mallya Fugitive Economic Offender, TV Says
• India Not Considering Banning Huawei’s Telecom Gear, ET Says
• Amazon Deal W/ Future Retail Has Fallen Through: Business Today

*ECONOMIC DATA (All times India Time):*
• 5:30pm: India annual GDP estimate for year ending March 2019, est. 7.2%, (Prior 6.7%)

*GOVERNMENT:*
• Norwegian Prime Minister Erna Solberg on 3-day visit to India, will hold talks with PM Narendra Modi to expand the bilateral partnership
• 8:15am: New Delhi. Solberg to address opening of India-Norway Business Summit 2019
• 9:30am: New Delhi. WCD Minister Maneka Gandhi, to confer National Awards to Anganwadi Workers for exceptional achievement
• 1pm: New Delhi. Oil & Skill Development Minister Dharmendra Pradhan, addresses media to launch bid documents for OALP Bid Round-II

*CENTRAL BANKS (All times India Time):*
• RBI to conduct 800b rupees, overnight & 200b rupees, 7-day reverse repo auctions

*BOND SALES:*
• India’s NHB Plans at Least INR7.5b 3Y Bond
• India’s Sidbi Plans up to INR15B Jan. 2022 Bond

*CONFERENCES/CORPORATE EVENTS:*
• 2:15pm: Delhi. NSE Foundation & NITI Aayog CEO Amitabh Kant, to brief media after sign a MoU for improving the quality of life of citizens
• 3pm: New Delhi. U.P. Minister for Sugar Development Suresh Rana, To address on ’Maha Kumbh Mela 2019’

*ANALYST ACTIONS:*
• Eicher Motors Downgraded to Hold at HSBC; PT 23,000 Rupees
• S&P Rated IDBI Bank to BB/Stable from BB/Watch -Ve
• L&T Infotech Raised to Buy at ICICI Securities; PT 1,687 Rupees

*MARKETS:*
• S&P 500 up 3.4% to 2,531.94
• STOXX Europe 600 up 2.8% to 343.38
• MSCI Asia Pacific Index up 0.1% to 145.64
• Gold spot up 0.2% to $1,287.74/oz
• Brent Futures up 1% to $57.62/bbl
• Sensex up 0.5% to 35,695.10
• Nifty Index up 0.5% to 10,727.35
• SGX Nifty futures up 1% to 10,887
• INR up 0.7% to 69.73/USD
• Yield on 7.17% bonds maturing Jan 2028 at 7.45% on Jan. 4
• Bonds Cap Second Weekly Loss on Fiscal Worries: Inside India

*EQUITY PREVIEW:*
• Force Motors (FML): Dec. output 2,578 units; Total sales 1,697 units
• India Cements (ICEM): Completes distribution CSK shares to shareholders
• PNB Housing Finance (PNBHOUSI): Seeks to raise INR247m via 9.4%, 3,651-day bonds
• Reliance Industries (RIL): Gets RBI nod for merger of Reliance Holding U.S.A. with Reliance Energy Generation & RIL to merge Reliance Energy with itself
• Rolta (RLTA): To Down Size Strength; Says Pursuing Debtors on Payments
• Sobha (SOBHA): Says Dec.-qtr total sales value 6.99b rupees vs 7.5b y/y
o Sobha 3Q Real Estate Sales Drop; Realization 4% Lower Y/y
• Sunteck Realty (SRIN): Raises INR350m via 84-day, 8.75% paper issue
• Titan Co (TTAN): Expects jewelry business to growth 22% this FY