Indian FX/debt factors to watch - Nov 19

Mon Nov 19, 2012 8:30am IST

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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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