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: RBI governor Shaktikanta Das at NITI Aayog’s FinTech Conclave 2019 in New Delhi. LIVECHAT - MARKETS FOCUS EMEA Markets Editor Mike Dolan analyses the state of the European markets at 4:30 pm IST. To join the conversation, click on the link: here INDIA TOP NEWS • Reliance says not breaching U.S. sanctions against Venezuela Reliance Industries, operator of the world's largest oil refining complex, on Friday said in a statement it was not breaching U.S. sanctions against Venezuela. • Delhivery raises $413 million in Softbank-led funding Indian supply chain solutions company Delhivery has raised fresh investment of $413 million in a financing round led by the Softbank Vision Fund, they said in a joint statement on Sunday. • Indian state open for talks with Uber rival Ola over ban The southern Indian state of Karnataka kept the door open on Saturday to talks with local ride-hailing service Ola to avoid a ban that could help rival Uber build market share. • Jaguar Land Rover wins case against Jiangling Motors in China Luxury carmaker Jaguar Land Rover, part of Tata Motors, said it won a case in China against local rival Jiangling Motors for making cars that copy features of Range Rover Evoque. • SpiceJet in talks with lessors to induct aircraft SpiceJet said on Friday it was in talks with lessors globally to induct aircraft, in an effort to fill a gap after the grounding of its MAX fleet. GLOBAL TOP NEWS • Mueller finds no Trump-Russia conspiracy but some questions left unresolved U.S. Special Counsel Robert Mueller found no evidence of collusion between President Donald Trump's election team and Russia in the 2016 election but left unresolved the question of whether Trump had tried to obstruct justice by undermining investigations that have dogged his presidency. • Brexit up in the air as May pushes divorce deal for third time British Prime Minister Theresa May held crisis talks with senior colleagues and hardline Brexiteers on Sunday trying to breathe life into her twice-defeated European divorce deal after reports her cabinet was plotting to topple her. • Boeing invites pilots, regulators to briefing as it looks to return 737 MAX to service Boeing said it invited more than 200 airline pilots, technical leaders and regulators for an information session on Wednesday as it looks to return the 737 MAX to commercial service. LOCAL MARKETS OUTLOOK (As reported by NewsRise) • SGX Nifty nearest-month futures were trading 0.5 percent lower at 11,417.00, from its previous close. • The Indian rupee is expected to open lower against the dollar as investor appetite for risk assets weakens amid concerns over a potential recession in the U.S. • Indian government bonds are likely to edge higher in early session tracking a slump in U.S. Treasury yields and crude oil prices. The yield on the benchmark 7.17 percent bond maturing in 2028 is likely to trade in a 7.46 percent-7.52 percent band today. GLOBAL MARKETS • Wall Street stocks sold off sharply on Friday, with all three major U.S. stock indexes posting their biggest one-day percentage declines since Jan. 3, as weak factory data from the United States and Europe led to an inversion of U.S. Treasury yields, fueling fears of a global economic downturn. • Investors dumped shares and fled to the safety of bonds while the Japanese yen hovered near a six-week high as risk assets fell out of favour on growing worries about an impending U.S. recession, sending global yields plunging. • The dollar edged back from a six-week low against the yen, as a degree of calm returned to the market gripped by fears of a recession in the United States. • U.S. markets received a clear warning of coming recession on Friday when the spread between yields on three-month Treasury bills and 10-year notes fell below zero for the first time since 2007 after U.S. manufacturing data missed estimates. • Oil prices dropped, as concerns of a sharp economic slowdown outweighed supply disruptions from OPEC's production cutbacks and U.S. sanctions on Iran and Venezuela. • Gold prices firmed, as concerns about a potential U.S. recession and decelerating global growth weighed on stock markets, which increased appetite for safer assets. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 68.98/69.01 March 22 $198.93 mln $100.15 mln 10-yr bond yield 7.50 pct Month-to-date $3.82 bln $1.99 bln Year-to-date $5.89 bln -$178.66 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 = 69.1190 Indian rupees) (Compiled by Yoganand KN in Bengaluru)
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