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    need2know: 9 market-moving macro triggers to watch today

    Synopsis

    A lowdown on top macro triggers that may move the market on Tuesday.

    ETMarkets.com
    Hello! Here’s a lowdown on top macro triggers that may move market on Tuesday. This report was compiled from agency feeds.

    Oil Ministry Seeks Cut in Excise Duty on Petrol, Diesel
    India's oil ministry is pushing for a cut in excise duty on petrol and diesel in the upcoming 2018-19 budget to cushion the impact of rising oil prices on its vast consumer base. Prime Minister Narendra Modi, who faces elections in key states later this year, and a nationwide election in early 2019, has faced pressure over a rise in retail prices of petrol and diesel to a record level. India has the highest retail prices of petrol and diesel among South Asian nations as taxes account for about 40-50% of the pump prices.

    India Among Top 5 Markets for Investment...
    India has emerged as the fifth most attractive market for investments and the optimism over global economic growth is at a record level, a survey of CEOs by global consultancy PwC said on Monday. The findings come on a day when the rich and powerful are meeting in Davos for the World Economic Forum's (WEF) annual summit.Around 46% of global CEOs consider the US as one of the three most important countries for growth, followed by China (33%) and Germany (20%) at second and third places, respectively. At the fourth spot is the UK (15%). India (9%) bumps Japan (8%) as the fifth most attractive market in 2018.

    ...But Below Pakistan & China in Inclusive Development
    India was today ranked at the 62nd place among emerging economies on an Inclusive Development Index, much below China's 26th position and Pakistan's 47th. The index takes into account the "living standards, environmental sustainability and protection of future generations from further indebtedness", the WEF said. The neighbouring countries ranked above India include Sri Lanka (40), Bangladesh (34) and Nepal (22). The countries ranked better than India also include Mali, Uganda, Rwanda, Burundi, Ghana, Ukraine, Serbia, Philippines, Indonesia, Iran, Macedonia, Mexico, Thailand and Malaysia.

    Residential Property Mkt Bouncing Back
    Residential property markets across India's top 30 cities have shrugged off the impact of demonetisation and absorbed the short-term blow of several regulatory changes aimed at formalising the real estate sector. In the quarter ended September, these property markets, including tier I and II cities, started showing initial signs of returning to normalcy as sales registered the best performance in five quarters, as per the latest performance data available for these markets. All cities have bounced back from the lows witnessed around demonetisation, showed data from Liases Foras Real Estate Rating & Research.

    Gross NPA May Rise to Rs 9.5 Lakh Cr by March: Study
    Gross non-performing assets (NPA) in Indian banks are expected to rise to Rs 9.5 lakh crore by March, from Rs 8 lakh crore in March last year, said a ASSOCHAM-Crisil joint study. Stressed assets in March 2018 are expected to be at Rs 11.5 lakh crore, the report titled "ARCs headed for a structural shift," said. "High level of stressed assets in the banking system provides enormous opportunity size for asset reconstruction companies (ARCs) which are an important stakeholder in the NPA resolution process," ASSOCHAM said in a statement quoting the study.

    Aadhar is Being Abused by Banks, Telcos: Snowden

    American whistleblower-in-exile Edward Snowden on Sunday called Aadhaar "an improper gate to service" and said demands to link it to various services "must be criminalised." Snowden tweeted this while sharing an online article authored by former head of Research and Analysis Wing (RAW) K C Verma. This is the third time the former US National Security Agency contractor has tweeted about Aadhaar this month. "Rarely do former intel chiefs and I agree, but the head of India's RAW writes #Aadhaar is being abused by banks, telcos, and transport not to police entitlements, but as a proxy for identity—an improper gate to service. Such demands must be criminalized," Snowden tweeted on Sunday, posting a link to Verma's piece on a news website.

    Top Video
    Decoding India's Role at World Economic Forum

    Decoding India's role at World Economic Forum

    As the world awaits PM Narendra Modi's big speech at the World Economic Forum, ET Now's Executive News Editor Supriya Shrinate caught-up with Davos veterans Rahul and Sanjiv Bajaj on their expectations from the PM and India's role at the high-level summit.



    Top Quote
    "No Irrational Exuberance, Quality Companies Will Continue to Do Well"


    FUNDAMENTALS
    Growth: India is projected to grow at 7.4% in 2018 as against China's 6.8%, the IMF said on Monday, making it the fastest growing country among emerging economies following last year's slowdown due to demonetisation and GST implementation. IMF has projected a 7.8% growth rate for India in 2019.

    Rupee Flat: The Indian rupee closed at 63.87 a dollar on Monday, down 0.04% from its Friday’s close of 63.85.

    Bonds Up: Government bonds (G-Secs) rose following good demand from corporates and banks, and the interbank call money rates also ended higher due to renewed demand from borrowing banks amid tight liquidity in the banking system. The 7.17% G-Secs maturing in 2028 rose to Rs 99.3325 from Rs 99.13 previously, while, its yield eased to 7.26% from 7.29%. The 6.79% G-Secs maturing in 2027 went up to Rs 95.53 from Rs 95.42 previously, while its yield edged down to 7.46% from 7.48%. The 6.68% G-Secs maturing in 2031 climbed to Rs 92.56 from Rs 92.48 previously, while, its yield softened to 7.56% from 7.57%. The 6.84% G-Secs maturing in 2022, the 8.20% G-Secs maturing in 2022 and the 7.94% G-Secs maturing in 2021 were also quoted higher to Rs 98.40, Rs 103.2875 and Rs 102.48, respectively.

    Call Rates Up: The overnight call money rates finished higher at 6.00% from last Friday's level 5.90%. It resumed higher at 6.00% and moved in a range of 6.05% and 5.75%.

    Liquidity: The Reserve Bank of India (RBI), under the Liquidity Adjustment Facility (LAF), purchased securities worth Rs 11,722 crore in 24-bids at the overnight repo opertion at a fixed rate of 6.00% as on Monday, while its sold securities worth Rs 2,740 crore from 18-bids at the 2-days reverse repo auction at a fixed rate of 5.75% as on January 20.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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