Indian FX/debt factors to watch - Nov 30
GLOBAL MARKETS ROUNDUP * Asian shares edged up on Friday on expectations a deal will eventually be reached to avoid a U.S. fiscal crisis, but investors wary about taking big positions before the year-end were likely to take profits on the rises and buy on dips. * The euro held below a one-month high against the dollar on Friday as the market worried about the prospects for a budget deal seen as essential to preventing the U.S. economy from slipping back into recession next year. * Oil prices rose on Thursday for the first time this week as investors grew more optimistic that U.S. lawmakers will resolve a budget fight and increasing Middle East tensions stoked fear about potential disruptions to oil supplies. * U.S. government debt prices rose on Thursday on safe-haven demand from investors nervous about the lack of progress in budget talks in Washington. LOCAL MARKETS PREVIOUS CLOSE * BSE index 19,170.91 points (1.75 pct) * NSE index 5,825.00 points (1.7 pct) * Rupee 54.8350/8450 per dollar (55.45/46) * 10-year bond yield 8.21 pct (8.19 pct) * 5-year OIS rate 7.14 pct (7.15 pct) * 1-year OIS rate 7.73 pct (7.74 pct) * Call money 8.05/8.10 pct (8.00/8.10 pct) OVERNIGHT NEWS * The Indian government bowed to intense opposition pressure and agreed on Thursday to a vote on its decision to let foreign supermarkets set up shop in India, taking a major step towards ending a deadlock that has paralysed parliament for days. * India's central bank will buy 120 billion rupees ($2.2 billion) of federal government bonds on Dec. 4 through open market operations (OMO), it said in a release on Thursday. KEY FACTORS/EVENTS TO WATCH * Q3 GDP scheduled to be released at 0530 GMT. * India will release infrastructure output data for October - 0630 GMT * India will release infrastructure output data for October - 1030 GMT * India-Foreign reserves, bank lending data at 11.30 GMT MAJOR DEALS/ACQUISITIONS * Bharti Infratel Ltd, the telecommunications tower unit of top Indian phone carrier Bharti Airtel, is likely to raise up to $825 million in what would be the country's biggest IPO in two years, sources with direct knowledge said. * The standby letter of credit-backed $200 million financing for Videocon Group, the diversified group controlled by Venugopal Dhoot, has been increased to $400 million. (IFR) * Reliance Power and China Ming Yang Wind Power Group will seek $3 billion in financings for renewable energy projects the two companies jointly develop in India. (IFR) * Electrosteel Steels has signed a 19.48 billion rupees nine-year loan with SBI Caps as the bookrunner. (IFR) * An 8.55 million share block trade in Apollo Hospitals raised 7.05 billion rupees ($127 million) after pricing shares at 824.0 rupees. The shares were priced at the bottom of the 824.0 rupees-876.6 rupees range and represented a discount of 6 percent to the Nov. 27 closing of 876.6. rupees (IFR) USD/INR NDFs (NY closing prices) * For up-to-date prices, double click Close Open High Low Volume 54.90-94 55.20 55.15 54.90 High FII INVESTMENTS-EQUITIES (Net dollars) Nov. 29* $287.65 mln# Month-to-date** $1.39 bln Year-to-date** $19.42 bln * Provisional NSE data ** Source: Data as per custodial filing as on Nov. 29 on SEBI website. #(As per Reuters conversion, $1 = 54.9275 rupees) FII INVESTMENTS-DEBT (Net Dollars) * Debt Nov. 27 $33.46 mln Month-to-date -$98.42 mln Year-to-date $6.17 bln * Source: Data as per custodial filing as on Nov. 29 on SEBI website. GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees) Nov. 29 Foreign Banks -2.79 bln Public Sector Banks 5.49 bln Private Sector Banks 8.38 bln Mutual Funds -3.15 bln Others 2.05 bln Primary Dealers -9.98 bln Source: Clearing Corp of India Ltd MONEY MARKET INFLOWS INSTRUMENT PAYMENT DATE AMT (IN MLN RUPEES) 9.81% 2013 Interest Nov 30 5395.50 10.00% 2014 Interest Nov 30 1166.63 10.25% 2021 Interest Nov 30 13434.33 91 days T-Bill Redemption Nov 30 95109.00 364 days T-Bill Redemption Nov 30 40000.00 For full table: WEEKLY GOVERNMENT AUCTIONS MATURITIES DATE AMOUNT (In rupees) Dated securities Nov. 30 130 bln OMO Dec. 2 120 bln LIQUIDITY * The Reserve Bank of India said on Thursday it accepted all 39 bids for 1.02 trillion rupees at its one-day repo auction, through which it injects liquidity into the banking system. It got 2 bids for 7.05 billion rupees at its reverse repo auction through which it injects liquidity into the banking system. * Indian banks' refinancing with RBI rises to 215.7 billion rupees. * Indian banks' cash balances with RBI rise to 3.11 trillion rupees. (Compiled by Subhadip Sircar and Archana Narayanan)
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
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