MORNING NEWS CALL

FACTORS TO WATCH

11:00 am: Interim Finance Minister Piyush Goyal at an event to mark second anniversary of the India Post Payments Bank in New Delhi. LIVECHAT - EQUITIES WATCH Join our Reuters correspondents in London and New York for a discussion on the stock markets and company earnings at 6:30 pm IST. To join the conversation, click here INDIA TOP NEWS Walmart's Flipkart warns of major "customer disruption" if new India rules not delayed Walmart's online retailer Flipkart has told the Indian government the company faces the risk of "significant customer disruption" if the implementation of new curbs for e-commerce is not delayed by six months, a source told Reuters. SBI set to own 15 percent of Jet Airways, Etihad 40 percent Jet Airways creditor State Bank of India is likely to own 15 percent of the airline if the cash-strapped carrier's plan for a debt-for-equity swap is approved, Indian TV channels reported on Tuesday. Axis Bank third-quarter profit beats estimates Axis Bank more than doubled net profit in its last quarter led by former Chief Executive Shikha Sharma, driven by higher interest income and recoveries from written-off accounts. Bank of Baroda third-quarter profit surges four-fold, but misses estimate Bank of Baroda said on Tuesday its third-quarter net profit more than quadrupled, but missed estimate as the Indian lender set aside higher provisions for bad loans. HCL Technologies third-quarter profit surges 26 percent HCL Technologies reported on Tuesday a nearly 26 percent jump in third-quarter profit, boosted by strong performances in its software services business. India's bankruptcy court rejects Essar Steel owners' settlement plan - TV India's bankruptcy court said on Tuesday creditors could reject a $7.5 billion offer from the owners of debt-stricken Essar Steel to settle the company's debts, giving a boost to global steel giant ArcelorMittal's bid to takeover the plant. Indian home loan provider Dewan's shares slump over media report Shares of home loan provider Dewan Housing Finance fell on Tuesday following a media report that alleged financial misappropriation by the controlling shareholders of the company. China's HBIS to buy Southeast Asian holdings from Tata Steel China's HBIS Group will buy Tata Steel's production assets in Southeast Asia, its latest move to expand its overseas steelmaking capacity after an investment in the Philippines in December. GLOBAL TOP STORIES U.S., China face deep trade, IP differences in high-level talks The United States and China launch a critical round of trade talks amid deep differences over U.S. demands for structural economic reforms from Beijing that will make it difficult to reach a deal before a March 2 U.S. tariff hike. Apple services business grows; CEO Cook says China tensions ease Apple reported sharp growth in its services business on Tuesday and Chief Executive Tim Cook said trade tensions between the United States and China were easing, helping boost the company's shares after hours even though iPhone sales dipped in the holiday shopping quarter for the first time.

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Japan December retail sales up but risks to consumption, economy grow Japan's retail sales rose more than expected in December as consumers increased spending on clothes and home appliances, which may ease some concern about the outlook for private consumption at a time of growing pressure on the economy. STATE OF THE MARKETS SGX Nifty nearest-month futures were trading flat at 10,693.00. -NewsRise The Indian rupee is expected to open lower against the dollar amid a rise in Brent crude oil following sanctions on Venezuela. -NewsRise Indian government bonds may gain in early trade after the central bank detailed its plan for bond purchases next month. However, overall demand may remain subdued in the run up to the interim budget on Feb. 1. The yield on the benchmark 7.17 percent bond maturing in 2028 is likely to trade in a 7.50 percent - 7.56 percent band today. -NewsRise U.S. stock futures and Asian equities eked out modest gains as investors seized on Apple Inc's earnings and comments from its chief that U.S.-China trade tensions were easing, sending the iPhone maker's shares soaring in after-hours trade. Wall Street was mixed on Tuesday, with Alphabet, Facebook and other technology-related shares dipping, while a rebound in 3M and other industrials elevated the Dow Jones Industrial Average. The pound nursed losses on fresh concerns about the possibility of a "no-deal" Brexit, while the dollar held steady ahead of the Federal Reserve's policy decision. The price of seven-year Treasury notes jumped on Tuesday after strong demand at auction for $32 billion of new issues, with yields down across maturities ahead of the Federal Reserve's policy statement on Wednesday. Oil prices dipped amid a cloudy outlook for the global economy, but traders said declines were reined in by worries over disruptions to supply from U.S. sanctions on Venezuelan fuel exports. Gold prices held near eight-month highs hit in the previous session on concerns over U.S.-China trade relations and ahead of the U.S. Federal Reserve's policy decision, where interest rates will likely be kept unchanged.

CLOSE FII INVESTMENTS EQUITIES DEBT

PNDF spot 71.14/71.17 January 29 -$49.57 mln -$7.20 mln

10-yr bond yield 7.52 pct Month-to-date -$457.21 mln -$736.17 mln

Year-to-date --- ---

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PICTURE OF THE DAY

People enjoy a barbecue as they bathe in a hotpot-shaped hot spring filled with fruits and vegetables, at hotel in Hangzhou, Zhejiang province, China, January 27. REUTERS/Stringer