Indian FX/debt factors to watch - Nov 19
GLOBAL MARKETS ROUNDUP * Asian shares rose on Monday, boosted by a positive tone in U.S. equities last week, while the yen fell to a near seven-month low against the dollar on expectations a new government after next month's election in Japan may deliver more stimulus. * The yen was hovering near a seven-month low versus the dollar at the start of the week, as expectations of more stimulus by Japanese authorities after next month's election made holding the already low-yielding currency even less appealing. * Oil rose on Friday as a fire on a Gulf of Mexico platform and the escalating conflict between Israel and Palestinians stoked supply concerns. * U.S. government debt prices rose on Friday, with yields touching their lowest levels in over two months on scepticism over whether Washington will produce a deal to avoid a budget crisis and worries about fighting between Israel and the Palestinians. LOCAL MARKETS PREVIOUS CLOSE * BSE index 18,309.37 points (-0.88 pct) * NSE index 5,574.05 points (-1.01 pct) * Rupee 55.1650/1750 per dollar (54.70/71) * 10-year bond yield 8.19 pct (8.19 pct) * 5-year OIS rate 7.13 pct (7.11 pct) * 1-year OIS rate 7.72 pct (7.71 pct) * Call money 8.00/8.05 pct (8.10/8.15 pct) OVERNIGHT NEWS * A senior Republican U.S. lawmaker on Friday urged President Barack Obama to "go big" and "go smart" in pursuit of new trade agreements in his second term in office. KEY FACTORS/EVENTS TO WATCH * The first day of the RBI-ADB conference on managing capital flows. RBI deputy governors Subir Gokarn and H.R. Khan and executive director Deepak Mohanty will attend the event. * C. Rangarajan, head of the Economic Advisory Council to the Prime Minister Manmohan Singh, and a former governor of the country's central bank will speak at an event hosted by the Export-Import Bank of India and will address a press conference at 0530 GMT. * Finance Minister P. Chidambaram will be in Bangalore for a meeting with the chief ministers of South Zone states and chiefs of state-run banks and financial institutions. MAJOR DEALS/EXTERNAL COMMERCIAL BORROWINGS * Cement maker Lafarge SA and miner Anglo American Plc have agreed to sell British assets to Indian steel tycoon Lakshmi Mittal for up to 285 million pounds ($452 million), clearing the way for a building materials joint venture in the country. * India's National Bank for Agriculture and Rural Development (NABARD) plans to raise 5 billion rupees ($91.26 million) via three-year bonds at 8.83 percent, a source with direct knowledge of the deal said on Friday. * Air India has launched the first tranche of its INR74bn (USD1.3bn) 19-year bond sale. The INR5bn tranche, launched in the morning, is being placed with the Employees' Provident Fund Organisation (EPFO). * Hedge fund manager Man Group has sold claims to the estate of defunct U.S. investment bank Lehman Brothers in a $456 million deal that will boost its cash position and see it book a tidy gain. USD/INR NDFs (NY closing prices) * For up-to-date prices, double click Close Open High Low Volume 55.47-50 55.22 55.63 55.48 High FII INVESTMENTS-EQUITIES (Net dollars) Nov. 16* $92.34 mln# Month-to-date** $668.00 mln Year-to-date** $18.70 bln * Provisional NSE data ** Source: Data as per custodial filing as on Nov. 16 on SEBI website. #(As per Reuters conversion, $1 = 55.20 rupees) FII INVESTMENTS-DEBT (Net Dollars) * Debt Nov. 15 -$320.02 mln Month-to-date $66.97 mln Year-to-date $6.34 bln * Source: Data as per custodial filing as on Nov. 16 on SEBI website. GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees) Nov. 16 Foreign Banks -2.95 bln Public Sector Banks -6.67 bln Private Sector Banks 6.93 bln Mutual Funds 10.62 bln Others 8.64 bln Primary Dealers -16.55 bln Source: Clearing Corp of India Ltd MONEY MARKET INFLOWS INSTRUMENT PAYMENT DATE AMT (IN MLN RUPEES) SDL 07.77%, 2015 Interest Nov 19 2934.78 (26 States) SDL 08.40%, 2017 Interest Nov 19 588.00 (2 States) 10.79% 2015 Interest Nov 19 1447.72 SDL 06.80%, 2012 Redemption Nov 20 878.90 (PUNJAB) SDL 06.93%, 2012 Redemption Nov 20 4655.93 (2 States) SDL 06.94%, 2012 Redemption Nov 20 2555.71 (MADHYA PRADESH) 8.37% FRB 2014 Interest Nov 20 2092.50 SDL 07.77%, 2018 Interest Nov 21 135.98 (KERALA) SDL 07.80%, 2018 Interest Nov 21 780.00 (2 States) SDL 07.85%, 2018 Interest Nov 21 392.50 (UTTAR PRADESH) SDL 07.86%, 2018 Interest Nov 21 589.50 (WEST BENGAL) For full table: WEEKLY GOVERNMENT AUCTIONS (In rupees) MATURITIES DATE AMOUNT T-Bills Nov. 21 100 bln LIQUIDITY * The Reserve Bank of India (RBI) said on Friday it accepted all 27 bids for 423.70 billion rupees at its three-day afternoon repo auction, through which it injects liquidity into the banking system. It also accepted both bids received for 1.4 billion rupees at its reverse repo auction through which it injects liquidity into the banking system. * Indian banks' refinancing with RBI rises to 172.35 billion rupees. * Indian banks' cash balances with RBI fall to 2.90 trillion rupees. (Compiled by Swati Bhat)
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