MORNING NEWS CALL

(Corrects to remove names of Anand Birje and Tawfik Hammoud from the livechat item)

FACTORS TO WATCH

No major events are scheduled. LIVECHAT - LIVE FROM DAVOS As leaders gather at the World Economic Forum, industry experts and peers brainstorm strategies and share valuable takeaways as we untangle critical issues arising from Globalisation 4.0 and the Fourth Industrial Revolution. Dr. Fatih Birol, Executive Director, IEA, joins the Global Markets Forum at 12:30 pm IST; Zhang Yi-Chen, Chairman and Chief Executive Officer, CITIC Capital at 3:30 pm IST; David Craig, Chief Executive Officer, Refinitiv at 4:30 pm IST; Anthony Scaramucci, Founder, SkyBridge Capital at 7:00 pm IST and Madhur Deora, Chief Financial Officer & SVP, Paytm at 9:30 pm IST. To join the conversation, click here INDIA TOP NEWS India likely to target about $11 billion from state asset sales in 2019/20 FY - sources The Indian government is likely to seek to raise about 800 billion rupees through the sale of state-owned assets in the next fiscal year, beginning April 1, two government sources with direct knowledge of budget discussions told Reuters on Tuesday. Sun Pharma takes steps to ease governance concerns; shares rally India's top drugmaker by market value Sun Pharmaceutical Industries announced on Tuesday a new local distributor and other measures in a bid to ease investor concerns over its corporate governance, sending its shares up. Asian Paints third-quarter profit jumps 14.6 percent, beats estimate Asian Paints posted a 14.6 percent rise in third-quarter net profit on Tuesday, beating estimate, buoyed by strong performances in its paints manufacturing vertical. TVS Motor third-quarter profit rises about 16 percent, beats estimates Auto manufacturer TVS Motor Co posted a better-than-expected rise in third-quarter profit on Tuesday, aided by higher sales of its two- and three-wheeler vehicles. IndiGo flight returns to base after "high vibration" in Pratt & Whitney engine An IndiGo flight returned to the airport shortly after it took off from the Indian city of Lucknow after the pilot observed "high vibration" in one of its engines, the airline said in a statement on Tuesday. GLOBAL TOP STORIES U.S. Senate to vote on ending government shutdown, Trump wall impasse The U.S. Senate shifted slightly closer on Tuesday to resolving a month-long partial government shutdown, but there was no sign of relief anytime soon for 800,000 federal workers who are furloughed or working without pay. BOJ to retain ultra-low rates, global slowdown raises fresh policy challenge The Bank of Japan is set to cut its inflation forecasts and maintain its ultra-loose monetary policy, as pressure on the economy mounts in the face of slowing global demand, dealing another blow to its years-long efforts to foster durable growth. Renault convenes board to turn page on Ghosn era Renault has called a board meeting to replace Chairman and Chief Executive Carlos Ghosn, in a move that may begin to ease tensions with alliance partner Nissan in the wake of Ghosn's arrest in Japan for alleged financial misconduct.

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STATE OF THE MARKETS SGX Nifty nearest-month futures were trading 0.1 percent higher at 10,945.00 from its previous close. -NewsRise The Indian rupee is expected to open higher against the dollar in the wake of a broad advance in regional currencies. -NewsRise Indian government bonds are expected to edge higher in early trade tracking an overnight decline in crude oil prices and on the central bank’s announcement of open market note purchase. The yield on the benchmark 7.17 percent bond maturing in 2028 is likely to trade in a 7.49 percent - 7.55 percent band today. -NewsRise U.S. stocks ended lower on Tuesday, snapping a four-session rally, as a gloomy global economic growth outlook, trade concerns and disappointing company forecasts dampened sentiment. Asian stocks edged down on mounting signs of slowing global growth and anxiety over a yet-unresolved Sino-U.S. trade dispute. The safe-have Japanese yen kept overnight gains against the dollar as concerns about slowing global growth and U.S.-Sino trade tensions drove investors away from risky assets. U.S. Treasury yields dropped on Tuesday as investors shifted some cash back into the bond market, prompted by worries over slowing global growth and trade tensions between China and the United States. Oil prices stabilised after steep falls in the previous session, when markets were dragged down by growing concerns about an economic slowdown. Gold prices held steady, as mounting concerns over a slowing global economic growth and uncertainty around Sino-U.S. trade tensions dampened appetite for risk.

CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 71.38/71.41 January 22 -$11.03 mln -$16.99 mln

10-yr bond yield 7.53 pct Month-to-date -$435.43 mln -$701.65 mln

Year-to-date --- ---

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PICTURE OF THE DAY

Pigeons fly nearby as a white rhinoceros, named Karen Peles, stands next to her second calf, a 3-week old female, at the Safari Zoo, in Ramat Gan, Israel, January 21. REUTERS/Corinna Kern