GLOBAL MARKETS ROUNDUP * The yen fell to a 7-1/2-month low versus the dollar on Thursday, lifting Japan's Nikkei share average to a six-month high, on mounting expectations of aggressive policy action under a likely new government. * The yen languished near eight-month lows versus the dollar on Thursday as investors gave it a wide berth on expectations of more policy action in Japan, while revived hopes of a Greek loan deal saw the euro stage a dramatic turnaround. * Oil ended higher after thin, volatile trading on Wednesday, as late-day short-covering ahead of a U.S. holiday offset earlier relief over a ceasefire that ended eight days of fighting in the Gaza strip. * U.S. Treasuries prices slipped for the third day on Wednesday in light trading volume as investors took profits on a recent rally that pushed yields to two-month lows, while the Federal Reserve sold short-term debt and the Treasury auctioned securities. LOCAL MARKETS PREVIOUS CLOSE * BSE index 18,460.38 points (0.72 pct) * NSE index 5,614.80 points (0.78 pct) * Rupee 55.11/12 per dollar (55.0950/1050) * 10-year bond yield 8.21 pct (8.20 pct) * 5-year OIS rate 7.17 pct (7.17 pct) * 1-year OIS rate 7.76 pct (7.76 pct) * Call money 8.00/8.10 pct (8.05/8.10 pct) OVERNIGHT NEWS * India is to allow state-run Life Insurance Corp (LIC) to triple the maximum stake it can hold in other companies to 30 percent in a move seen as helping a government sell-off of its own holdings in a range of firms. * India's central bank Governor Duvvuri Subbarao went against the suggestion of most external members of an advisory panel to keep the key repo rate steady on Oct. 30, minutes of the quarterly meeting released on Wednesday showed. MAJOR DEALS/EXTERNAL COMMERCIAL BORROWINGS * Japan Bank for International Cooperation and Mizuho Corporate Bank have completed a US$135m loan for Jamshedpur Continuous Annealing & Processing Co Pvt Ltd, an Indian joint venture between Japan's Nippon Steel & Sumitomo Metal Corp and India's Tata Steel Ltd, JBIC said in a statement on Tuesday. * Indian drugmaker Cipla plans to offer $215 million for a majority stake in South Africa's Cipla Medpro to strengthen its presence in Africa's fast-growing market for cheap, generic versions of branded drugs. * The Indian government will sell a 4 percent stake in state-run Hindustan Copper Ltd through an auction of shares on Friday, the official in charge of the government's divestment program said on Wednesday. * A jumbo 259 billion rupees (US$4.7bn) project finance loan for Tata Steel Ltd is likely to be launched into syndication in two weeks. The company's board approved the launch at a meeting on November 9. The deal is likely to be launched in one go instead of in phases, which was one of the possibilities. USD/INR NDFs (NY closing prices) * For up-to-date prices, double click Close Open High Low Volume 55.38-43 55.46 55.47 55.40 High FII INVESTMENTS-EQUITIES (Net dollars) Nov. 21* $33.14 mln# Month-to-date** $967.64 mln Year-to-date** $19.00 bln * Provisional NSE data ** Source: Data as per custodial filing as on Nov. 21 on SEBI website. #(As per Reuters conversion, $1 = 55.10 rupees) FII INVESTMENTS-DEBT (Net Dollars) * Debt Nov. 20 $24.97 mln Month-to-date -$57.37 mln Year-to-date $6.21 bln * Source: Data as per custodial filing as on Nov. 21 on SEBI website. GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees) Nov. 21 Foreign Banks -9.17 bln Public Sector Banks 4.92 bln Private Sector Banks 2.74 bln Mutual Funds 1.32 bln Others -0.55 bln Primary Dealers 0.74 bln Source: Clearing Corp of India Ltd MONEY MARKET INFLOWS INSTRUMENT PAYMENT DATE AMT (IN MLN RUPEES) 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 SDL 08.39%, 2020 Interest Nov 24 891.44 (3 States) SDL 08.40%, 2020 Interest Nov 24 420.00 (GUJARAT) 9.00% 2013 Interest Nov 24 788.10 7.94% 2021 Interest Nov 24 19453.00 For full table: WEEKLY GOVERNMENT AUCTIONS MATURITIES DATE AMOUNT (In rupees) Bonds Nov. 23 130 bln LIQUIDITY * The Reserve Bank of India (RBI) said on Wednesday it accepted all 39 bids for 1.07 trillion rupees at its one-day repo auction, through which it injects liquidity into the banking system. It also accepted the sole bid for 50 million rupees at its reverse repo auction through which it injects liquidity into the banking system. * Indian banks' refinancing with RBI rises to 205.09 billion rupees. * Indian banks' cash balances with RBI rise to 3.03 trillion rupees. (Compiled by Swati Bhat)
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Greece's combative finance minister resigned on Monday, removing one major obstacle to any deal to keep Athens in the euro zone after Greeks voted resoundingly to back the government in rejecting the austerity terms of a bailout. Full Article | Greece a flashpoint for Europe?