Indian FX/debt factors to watch - Nov 20

Tue Nov 20, 2012 8:33am IST

Related Topics

GLOBAL MARKETS ROUNDUP
    * Asian shares rose on Tuesday on hopes of a compromise in
the U.S. fiscal crisis, while the euro fell after Moody's
Investors Service scrapped France's top-notch credit rating,
reminding investors of the protracted euro zone debt crisis.
 
    * The euro fell on Tuesday after Moody's stripped France of
its prized triple-A rating, while the yen hovered near a
seven-month low against the dollar ahead of a Bank of Japan
policy decision due later in the day. 
    * Oil rose 2.5 percent on Monday to its highest price since
mid-October, fuelled by supply concerns as violence in the
Middle East escalated and as investors grew more hopeful that a
U.S. budget crisis will be averted. 
    * U.S. Treasuries were steady in Asia on Tuesday after
posting small losses the previous day on optimism that U.S
lawmakers may reach a deal to avert the "fiscal cliff", which
threatens to push the U.S. economy into a recession. 

    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 18,339.00 points (0.16 pct)
    * NSE index 5,571.40 points (-0.05 pct)  
    * Rupee 55.06/07 per dollar (55.1650/1750)
    * 10-year bond yield 8.19 pct (8.19 pct) 
    * 5-year OIS rate 7.15 pct (7.13 pct) 
    * 1-year OIS rate 7.74 pct (7.72 pct) 
    * Call money 8.05/8.10 pct (8.00/8.05 pct)
    
    OVERNIGHT NEWS
    * The slowing Indian economy is not responding to shock
therapy. The stock market rally that began in September after
the government unveiled its high-decibel reforms programme is
fizzling out. 
    
    KEY FACTORS/EVENTS TO WATCH
    * 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 at 0730 GMT.
    * The Reserve Bank of India Governor Duvvuri Subbarao will
give an address on 'G20 and India' in Mumbai on Tuesday, two
weeks after the G20 group met in Mexico, where the governor had
indicated that there is room for easing monetary policy as early
as January. Event to start at 1230 GMT.
           
    MAJOR DEALS/EXTERNAL COMMERCIAL BORROWINGS
    * Three state-owned companies - India Infrastructure Finance
Co (IIFCL), Rural Electrification Corp (REC) and Power Finance
Corp (PFC) - called for bids today for up to 15 bn rupees
(US$272m) of their respective tax-free bonds. (IFR)
    
    USD/INR NDFs (NY closing prices)  
    * For up-to-date prices, double click 
      Close      Open      High     Low      Volume 
    55.07-12    55.28     55.30    55.05      High

    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    Nov. 19*                 -$27.59 mln#
    Month-to-date**          $811.18 mln 
    Year-to-date**            $18.85 bln         
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on Nov. 19 on
SEBI website.
    #(As per Reuters conversion, $1 = 55.10 rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *  
                              Debt             
    Nov. 16               -$105.99 mln
    Month-to-date          -$39.02 mln
    Year-to-date             $6.23 bln                    
    * Source: Data as per custodial filing as on Nov. 19 on SEBI
website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                Nov. 19
    Foreign Banks                       -2.07 bln
    Public Sector Banks                  0.87 bln
    Private Sector Banks                -3.84 bln
    Mutual Funds                         3.75 bln 
    Others                               2.58 bln
    Primary Dealers                     -1.29 bln
    Source: Clearing Corp of India Ltd
    
    MONEY MARKET INFLOWS
INSTRUMENT               PAYMENT     DATE    AMT (IN MLN RUPEES)
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)
SDL 09.12%, 2022         Interest   Nov 23           1368.00 
(3 States) 
SDL 09.13%, 2022         Interest   Nov 23            136.95 
(PUNJAB) 
SDL 09.15%, 2022         Interest   Nov 23            457.50 
(KERALA) 
SDL 09.17%, 2022         Interest   Nov 23            687.75 
(UTTAR PRADESH) 
SDL 09.19%, 2021         Interest   Nov 23             32.17 
(GOA) 
SDL 09.21%, 2021         Interest   Nov 23            115.13 
(PUNJAB) 
SDL 09.22%, 2021         Interest   Nov 23            479.44 
(3 States) 
SDL 09.22%, 2022         Interest   Nov 23            691.50 
(WEST BENGAL) 
SDL 09.23%, 2021         Interest   Nov 23            638.25 
(2 States) 
SDL 09.25%, 2021         Interest   Nov 23            693.75 
(2 States) 
SDL 09.28%, 2021         Interest   Nov 23            464.00 
(WEST BENGAL) 
SDL 09.33%, 2021         Interest   Nov 23             81.64 
(JAMMU & KASHMIR) 
12.60% 2018              Interest   Nov 23           7958.08 
91 days T-Bill           Redemption Nov 23         111220.00 
182 days T-Bill          Redemption Nov 23          50000.00 
For full table: 
    
    WEEKLY GOVERNMENT AUCTIONS 
MATURITIES                   DATE        AMOUNT (In rupees)   
T-Bills                    Nov. 21            100 bln
Bonds                      Nov. 23            130 bln
    
    LIQUIDITY
    * The Reserve Bank of India (RBI) said on Monday it accepted
all 43 bids for 1.11 trillion rupees at its one-day repo
auction, through which it injects liquidity into the banking
system. It also accepted the sole bid for 150 million rupees at
its reverse repo auction through which it injects liquidity into
the banking system. 
    * Indian banks' refinancing with RBI rises to 185.44 billion
rupees. 
    * Indian banks' cash balances with RBI fall to 2.88 trillion
rupees. 

 (Compiled by Swati Bhat)
FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Markets

REUTERS SHOWCASE

Canada Shooting

Canada Shooting

Attack on parliament, killing of soldier stun Canada's capital.  Full Article 

Earnings Season

Earnings Season

Wipro sees rosier end to year as U.S. clients spend.  Full Article 

Business Climate

Business Climate

Fears for tough penalties grow as India cleans up business  Full Article 

New Email Service

New Email Service

Google launches new email service dubbed "Inbox".  Full Article 

DLF Appeals

DLF Appeals

DLF seeks interim relief from capital market ban  Full Article 

Falling Oil Prices

Falling Oil Prices

Indian consumers respond to softer oil, food prices  Full Article 

Book Keeping

Book Keeping

RBI fires warning shots on companies' lack of FX hedging.  Full Article 

Policy Repo Rate

Policy Repo Rate

Most external members suggested rate cut in RBI's Sept review.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage