Indian FX/debt factors to watch - Nov 26

GLOBAL MARKETS ROUNDUP
* Asian shares rose on Monday on the hope Greece can avoid a
near-term bankruptcy, with euro zone finance ministers meeting
later in the day, but a regional Spanish vote favouring
separatist parties clouded Madrid's push for fiscal
austerity.
* The euro hit a seven-month high against the yen and held
near a one-month peak versus the dollar on Monday, supported by
hopes that Greece will finally secure more emergency loans to
keep it afloat.
* Oil rose in thin holiday trade on Friday as fresh protests
in Egypt once again stoked supply concerns, with additional
support coming from optimism about talks on releasing aid to
Greece.
* U.S. government debt prices fell on Friday in light
post-Thanksgiving trading and a reduction in safe haven demand
for bonds as Wall Street stocks rallied on hopes lenders would
soon release more cash to debt-laden Greece.

LOCAL MARKETS PREVIOUS CLOSE
* BSE index 18,506.57 points (-0.06 pct)
* NSE index 5,626.60 points (-0.02 pct)
* Rupee 55.5350/5450 per dollar (55.21/22)
* 10-year bond yield 8.23 pct (8.23 pct)
* 5-year OIS rate 7.18 pct (7.19 pct)
* 1-year OIS rate 7.76 pct (7.76 pct)
* Call money 8.05/8.10 pct (8.05/8.10 pct)

OVERNIGHT NEWS
* India's finance minister has banned government officials
from holding conferences at five-star hotels, restricted travel
and ordered a freeze on hiring to fill vacant posts.

* India's economic growth probably languished near a
three-year low of 5.5 percent in the quarter that ended in
September, Finance Minister P. Chidambaram said on Saturday, a
pace that will increase the pressure on the government to enact
tough reforms.
* India raised 8.1 billion rupees ($147 million) by selling
shares of state-run Hindustan Copper Ltd on Friday,
kick-starting a stalled divestment programme that is crucial to
reining in a ballooning fiscal deficit.
* Global logistics services provider DHL Express's share
sale in India's Blue Dart Express Ltd was covered
nearly four times in a $172 million deal, revised stock
exchanges data showed on Friday.

KEY FACTORS/EVENTS TO WATCH
* Top officials from Reserve Bank of India and Chinese
government part of the 'Asian Financial Cooperation Conference'
on Nov. 26-27 in Mumbai. Speakers include RBI Deputy Governor
H.R. Khan and China's top economic planning agency head Zhang
Ping.
* The government is holding an all-party meeting at 0630 GMT
on Monday to break the logjam in parliament.

MAJOR DEALS/ACQUISITIONS
* A unit of India's state-run Oil and Natural Gas Corp
plans to raise up to $900 million in the first quarter
of 2013 through a dollar bond issue to fund an acquisition in
Azerbaijan, a top official said.
* Indian lender ICICI Bank is out with price talk on a USD
250 mln retap of its 4.7 percent Reg S/144a bonds due 2018 at
350bp over US Treasuries. The transaction, however, is being
carried out in a Reg S format.

USD/INR NDFs (NY closing prices)
* For up-to-date prices, double click
Close Open High Low Volume
55.68-73 55.72 55.89 55.70 Moderate

FII INVESTMENTS-EQUITIES (Net dollars)

Nov. 23* $66.01 mln#
Month-to-date** $1.05 bln
Year-to-date** $19.08 bln
* Provisional NSE data
** Source: Data as per custodial filing as on Nov. 23 on
SEBI website.
#(As per Reuters conversion, $1 = 55.50 rupees)

FII INVESTMENTS-DEBT (Net Dollars) *
Debt
Nov. 22 $46.98 mln
Month-to-date -$84.98 mln
Year-to-date $6.19 bln
* Source: Data as per custodial filing as on Nov. 23 on SEBI
website.

GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
Nov. 23
Foreign Banks -16.29 bln
Public Sector Banks 6.90 bln
Private Sector Banks 14.24 bln
Mutual Funds 4.28 bln
Others 6.89 bln
Primary Dealers -16.03 bln
Source: Clearing Corp of India Ltd

MONEY MARKET INFLOWS
INSTRUMENT PAYMENT DATE AMT (IN MLN RUPEES)
SDL 08.03%, 2019 Interest Nov 26 128.48
(PUNJAB)
SDL 08.05%, 2019 Interest Nov 26 1479.59
(3 States)
SDL 08.05%, 2020 Interest Nov 26 201.25
(RAJASTHAN)
SDL 08.06%, 2019 Interest Nov 26 201.50
(RAJASTHAN)
SDL 08.07%, 2020 Interest Nov 26 766.65
(3 States)
SDL 08.09%, 2020 Interest Nov 26 488.43
(GUJARAT)
SDL 08.10%, 2019 Interest Nov 26 980.06
(2 States)
SDL 08.10%, 2020 Interest Nov 26 405.00
(UTTAR PRADESH)
SDL 08.66%, 2021 Interest Nov 26 433.00
(UTTAR PRADESH)
SDL 08.67%, 2021 Interest Nov 26 433.50
(ANDHRA PRADESH)
SDL 08.68%, 2021 Interest Nov 26 868.00
(2 States)
SDL 07.44%, 2019 Interest Nov 27 186.00
(RAJASTHAN)
SDL 07.45%, 2019 Interest Nov 27 372.50
(ANDHRA PRADESH)
SDL 07.50%, 2019 Interest Nov 27 562.50
(WEST BENGAL)
SDL 07.53%, 2019 Interest Nov 27 564.75
(UTTAR PRADESH)
For full table:

WEEKLY GOVERNMENT AUCTIONS
MATURITIES DATE AMOUNT (In rupees)
Tbills Nov. 27 100 bln

LIQUIDITY
* The Reserve Bank of India said on Friday it accepted all
42 bids for 1.19 trillion rupees at its three-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 206.64 billion
rupees.
* Indian banks' cash balances with RBI rise to 2.91 trillion
rupees.

(Compiled by Swati Bhat)