MORNING NEWS CALL

FACTORS TO WATCH

11:45 am: Hero MotoCorp to launch next-gen Hero motorcycle in New Delhi. 3:00 pm: Auto Expo curtain raiser event in New Delhi.

LIVECHAT - FED WATCH

Reuters reporters and editors tracking the Federal Reserve take questions on the economics, politics, trade matters

and rates policies facing America's central bank and others whose decisions drive markets day in and day out. To join

the conversation at 2000 IST, click here

INDIA TOP NEWS

India expects to regain pole position as fastest-growing major economy

India on Monday forecast its economic growth would accelerate to 7 to 7.5 percent in the 2018/19 fiscal year, to once again become the world's fastest-growing major economy.

EXCLUSIVE-With Roman law doctrine, India moves to stub out tobacco industry rights

The Indian government is pushing the Supreme Court to apply a rarely used doctrine that would strip the $11 billion tobacco industry's legal right to trade, an effort aimed at deterring tobacco companies from challenging tough new regulations.

Reliance Communications narrows loss as sells off wireless assets

RCom reported a narrower quarterly loss, as its move out of consumer business helped cut losses.

Tech Mahindra Q3 profit rises over 10 percent Software services exporter Tech Mahindra posted a 10.2 percent rise in third-quarter net profit, helped by a rise in active clients.

GLOBAL TOP STORIES

FBI's No. 2 official McCabe, blasted by Trump, steps down

FBI Deputy Director Andrew McCabe, criticized by President Donald Trump and other Republicans for alleged bias against him and in favor of his 2016 Democratic opponent, Hillary Clinton, has stepped down, U.S. officials confirmed on Monday.

Creditors to take 70 percent of Noble Group in $3.5 billion debt restructuring

Struggling Noble Group has struck a deal with creditors to restructure $3.5 billion of its debt for 70 percent of the company, with existing equity holders' combined stake diluted to only 10 percent.

Trump team idea to nationalize 5G network to counter China is rejected

The top U.S. communications regulator, wireless companies and some lawmakers oppose an idea by members of President Donald Trump's national security team for the government to build a 5G wireless network to counter China spying on phone calls.

STATE OF THE MARKETS

The SGX Nifty Futures were trading at 11,135.50, trading down 0.06 percent from its previous close. -NewsRise

REUTERS INDIA EDITION Tuesday, January 30, 2018

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MORNING NEWS CALL - INDIA EDITION January 30, 2018

The Indian rupee will likely open lower against the dollar, as the greenback continued to recover from its 2014-lows tracking an uptrend in U.S. bond yields, even as traders await cues from the two-day Fed policy meet that begins today. -NewsRise Indian government bonds are likely to fall tracking higher U.S. Treasury yields. The yield on the 7.17 percent bond maturing in 2028 is likely to trade in a 7.43 percent - 7.48 percent band today. -NewsRise Wall Street pulled back from record highs on Monday, with the Dow and the S&P 500 indexes marking their biggest one-day percentage declines in about five months, weighed down by a slide in Apple shares. Asian stocks retreated from record highs after a selloff in Apple shares knocked Wall Street, while the dollar found support as U.S. bond yields climbed to near four-year highs. The dollar traded above a recent three-year low against a basket of major currencies, having drawn some support from a rise in U.S. bond yields as traders awaited a U.S. Federal Reserve policy meeting for fresh catalysts. U.S. Treasury yields surged to more than three-year highs on Monday after comments from a European Central Bank official added to expectations that central banks globally will reduce stimulus as the economic outlook improves. U.S. oil slipped, extending losses into a second session, as a strengthening dollar sapped demand for crude, while rising U.S. output helped dampen prices. Gold slipped, extending losses into a second session, as the dollar strengthened against a basket of currencies and U.S. bond yields rose.

CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 63.54/63.57 January 29 $45.76 mln $198.52 mln

10-yr bond yield 7.56 pct Month-to-date $1.97 bln $1.27 bln

Year-to-date $1.97 bln $1.27 bln

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MORNING NEWS CALL - INDIA EDITION January 30, 2018

PICTURE OF THE DAY

Price tags are seen on the samples of pulses that are kept on display for sale at a market in Mumbai, January 29. REUTERS/Danish Siddiqui

(Compiled by Samrhitha Arunasalam and Yoganand K N in Bengaluru) For questions or comments about this report, contact: reuters.marketwatch@thomsonreuters.com For more information about our products: https://www.thomsonreuters.com/en/products-services.html Or send us a sales enquiry at: https://www.thomsonreuters.com/en/contact-us.html or call us on North America: +1 800 758 5555 You may instruct us to remove you from Morning News Call by clicking on the link - https://forms.thomsonreuters.com/MorningNewsCall/Unsubscribe/

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