Indian FX/debt factors to watch - Nov 7
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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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
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