Morning Market News Call India, February 16

 FACTORS TO WATCH

10:00 am: Railway Minister Suresh Prabhu, DIPP Secretary Amitabh Kant, other Government and industry officials at Make in India summit in Mumbai.

11:30 a.m.: SBI Chairman Arundhati Bhattacharya at an event in New Delhi.

5:30 pm: RBI Deputy Governor H.R. Khan to attend an event in Mumbai. 

 INDIA TOP NEWS

India's aim to import GMO-free corn - mission not possible?

As India arranges to import corn for the 1th time in 16 years, at least one stipulation in its global tender has become much tougher to meet – that shipments of the crop are totally free of genetically modified organisms.

Snap deal increases $200 mln, giving it $6.5 bln market value online market Snap deal has increased a $200 million, giving it a survey of about $6.5 billion, as the firm looks to ramp up assets in logistics and infrastructure in the quick rising domestic e commerce division 

India's exports shrink in Jan.; RBI against depression India's exports shrank in Jan. for the 14th straight month on sustained bad demand from Europe, but the central bank said it will not track countries such as China and Japan in pushing down the currency to assist. 

India drug watching program kicks to raise quick enough India's 6-year-old pharmacovigilance program, which gathers and submits supposed poor drug responses to a globe Health Organization record, is key to improving drug safety in a country where drug consumption is high, experts say. 

RBI chief Rajan says not in favor of devaluing exchange rate Reserve Bank of India Governor Raghuram Rajan said on Monday he wasn’t in favor of devaluing exchange rates to increase financial development, signaling India wouldn’t link other countries such as China or Japan in pushing fall their currencies. 

LOCAL MARKETS OUTLOOK

The SGX Nifty Futures was trading at 7,203.00, gain 0.40 pct from its last end.

The Indian rupee would expect open a little lesser against the U.S. dollar, as easing threat aversion and broad downside in the Japanese yen lift the greenback. However, likely gains in domestic stocks on the back of enhanced sentiment would limit sufferers, dealers said 

Indian government bonds would expected edge lesser, as the nation's central bank didn’t declare an open market buy of bonds and went in for the longer-term repurchase options amid bad demand from foreign shareholders at a debt limit auction. The yield on the benchmark 7.59 pct bond maturing in 2026 is expected to trade in a 7.72 pct-7.77 pct level. 

GLOBAL MARKETS

 U.S. markets were ended on Monday, Feb. 15 for President's day. Asian stocks expanded their increases as a mixture of stabilizing Chinese markets, a recover in oil rates and hard U.S. consumption data drove shareholders to appear for deals after previous week's tumult. 

The dollar stood tall against the yen and euro as worldwide threat dislike that tattered the greenback the last week relieved. 

U.S. oil rates hoped back over $30 a barrel as news of a rare private Meeting of top officials from the world's leading oil producers urged Speculation of an eventual contract to begin a deep supply glut. 

Gold tended sheer sufferers, trading well beneath a 1-year high achieved previous Week, as recoil in worldwide shares and the revisit of threat appetite dulled Demand for the safe-haven asset. (Source: http://share.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN_02162016.pdf)