Indian FX/debt factors to watch - Nov 7

Wed Nov 7, 2012 8:40am IST

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GLOBAL MARKETS ROUNDUP
    * Asian shares were capped while the safe-haven yen gained
on Wednesday as investors remained guarded against the risk of
an indecisive outcome in the close-fought U.S. presidential
election, with early counting as yet showing no clear winner.
 
    * The U.S. dollar was a touch softer in Asia on Wednesday,
having retreated from a two-month high as markets awaited the
outcome of the presidential election, while the Aussie dollar
stood out with broad gains after interest rates at home were
left steady. 
    * Oil rose 3 percent on Tuesday, rallying a second straight
session and receiving a lift from gains on Wall Street as
investors awaited U.S. election results. 
    * Prices of U.S. Treasuries slid on Tuesday as investors
opted for riskier assets such as equities rather than government
debt as the neck-and-neck U.S. presidential election draws to a
close. 

    LOCAL MARKETS CLOSE ON NOV. 6
    * BSE index 18,817.38 points (+0.29 pct)  
    * NSE index 5,724.40 points (+0.35 pct) 
    * Rupee 54.43/44 per dollar (54.60/61)
    * 10-year bond yield 8.18 pct (8.19 pct) 
    * 5-year OIS rate 7.10 pct (7.09 pct) 
    * 1-year OIS rate 7.76 pct (7.75 pct) 
    * Call money 8.10/8.15 pct (8.05/8.10 pct) 
    
    OVERNIGHT NEWS
    * Canadian firms will be able to export uranium and nuclear
reactors to India for the first time in almost four decades
under an agreement between the two nations, their prime
ministers said, but more work is needed to implement the deal.
 
           
    MAJOR DEALS/EXTERNAL COMMERCIAL BORROWINGS
    * Tata Steel's board is likely to approve the launch of its
259 bln rupees (US$4.7 bln) project financing deal on Friday.
The board meets on Nov. 9 and may also decide if the deal needs
to be launched in phases. (IFR)
     
    USD/INR NDFs (NY closing prices) 
    * For up-to-date prices, double click 
      Close      Open      High     Low      Volume
    54.62-67    54.92     54.85    54.58      High
    
    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    Nov. 6*                   $32.09 mln#
    Month-to-date**          $349.40 mln 
    Year-to-date**            $18.38 bln         
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on Nov. 6 on SEBI
website.
    #(As per Reuters conversion, $1 = 54.40 rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *  
                              Debt             
    Nov. 5                 $24.28  mln
    Month-to-date         $275.89  mln
    Year-to-date            $6.55  bln                    
    * Source: Data as per custodial filing as on Nov. 6 on SEBI
website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                Nov. 6
    Foreign Banks                        4.02 bln
    Public Sector Banks                 -5.67 bln
    Private Sector Banks                 3.58 bln
    Mutual Funds                         0.40 bln 
    Others                              -3.48 bln
    Primary Dealers                      1.16 bln
    Source: Clearing Corp of India Ltd
    
    MONEY MARKET INFLOWS
INSTRUMENT               PAYMENT     DATE    AMT (IN MLN RUPEES)
8.29% FRB 2016           Interest   Nov 07           2487.00 
8.79% 2021               Interest   Nov 08          36478.50 
SDL 09.10%, 2022         Interest   Nov 09            282.92 
(TAMIL NADU) 
SDL 09.13%, 2022         Interest   Nov 09            867.35 
(2 States) 
SDL 09.16%, 2022         Interest   Nov 09            343.50 
(BIHAR) 
SDL 09.17%, 2021         Interest   Nov 09            458.50 
(ANDHRA PRADESH) 
SDL 09.18%, 2021         Interest   Nov 09            114.75 
(PUNJAB) 
SDL 09.19%, 2021         Interest   Nov 09           1263.63 
(2 States) 
SDL 09.20%, 2021         Interest   Nov 09            384.10 
(3 States) 
SDL 09.23%, 2022         Interest   Nov 09            461.50 
(WEST BENGAL) 
SDL 09.25%, 2021         Interest   Nov 09            687.97 
(UTTAR PRADESH) 
91 days T-Bill           Redemption Nov 09         200000.00 
182 days T-Bill          Redemption Nov 09          50000.00 
       
    WEEKLY GOVERNMENT AUCTIONS (In rupees)  
MATURITIES                   DATE            AMOUNT  
10-year state loans         Nov. 6      At least 48 bln
Tbills                      Nov. 7          100 bln
Dated govt bonds            Nov. 9          130 bln
    
    LIQUIDITY, data as of Nov. 6
    * The Reserve Bank of India accepted all 25 bids received
for 423.15 billion rupees at its one-day repo auction on
Tuesday, through which it injects liquidity into the banking
system. It said it did not get any bids at its reverse repo
auction, through which it absorbs excess liquidity from the
banking system. 
    * Indian banks' refinancing with RBI rises to 176.81 billion
rupees. 
    * Indian banks' cash balances with RBI fall to 2.96 trillion
rupees. 

 (Compiled by Swati Bhat)
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