Indian FX/debt factors to watch - Dec 3

Mon Dec 3, 2012 8:48am IST

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GLOBAL MARKETS ROUNDUP
    * Asian shares edged higher on Monday as further signs of a
stabilising Chinese economy boosted sentiment, but stagnant U.S.
budget talks which threaten to derail the world's largest
economy kept investors cautious and capped prices. 
    * The euro rose to a six-week high against the dollar on
Monday, after upbeat data on Chinese manufacturing helped to
trigger stop-loss buying of the common currency. 
    * Oil rose on Friday, notching its first monthly gain since
August, as the market continued to balance risks to demand from
the U.S. budget standoff against concerns about disruption to
Middle East supplies. 
    * Benchmark U.S. Treasury debt prices were little changed on
Friday as profit taking from four days of price gains was offset
by safe-haven bidding on anxiety about the lack of progress in
budget talks in Washington. 

    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 19,339.90 points (0.88 pct)
    * NSE index 5,879.85 points (0.94pct)
    * Rupee 54.26/27 per dollar (55.8350/8450)
    * 10-year bond yield 8.18 pct (8.21 pct) 
    * 5-year OIS rate 7.12 pct (7.14 pct) 
    * 1-year OIS rate 7.72 pct (7.73 pct) 
    * Call money 8.00/8.05 pct (8.05/8.10 pct)
    
    OVERNIGHT NEWS
    * India's stuttering economic reform programme faces a key
parliamentary test this week on whether to let foreign
supermarket chains such as Wal-Mart Stores set up shop,
in a vote that could pave the way for further measures to revive
the economy. 
 
    KEY FACTORS/EVENTS TO WATCH
    * India's November manufacturing PMI at 0500 GMT.
    
    MAJOR DEALS/ACQUISITIONS
    * L&T Seawoods, a subsidiary of engineering and construction
giant Larsen & Toubro, settled a 1 billion rupee bond via Yes
Bank. The three-year bonds with a call after two years pay a
coupon of 9.75%. (IFR)

    USD/INR NDFs (NY closing prices)  
    * For up-to-date prices, double click 
      Close      Open      High     Low      Volume 
    54.69-73    54.82     54.74    54.64     High

    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    Nov. 30*                 $296.76 mln#
    Month-to-date**            $1.75 bln 
    Year-to-date**            $19.78 bln         
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on Nov. 30 on
SEBI website.
    #(As per Reuters conversion, $1 = 54.3 rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *  
                              Debt             
    Nov. 29                $157.57 mln
    Month-to-date           $59.15 mln
    Year-to-date             $6.33 bln                    
    * Source: Data as per custodial filing as on Nov. 30 on SEBI
website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                Nov. 30
    Foreign Banks                        8.12 bln
    Public Sector Banks                -21.25 bln
    Private Sector Banks                 9.64 bln
    Mutual Funds                         1.70 bln 
    Others                               3.95 bln
    Primary Dealers                     -2.16 bln
    Source: Clearing Corp of India Ltd
    
    WEEKLY GOVERNMENT AUCTIONS 
MATURITIES               DATE          AMOUNT (In rupees)   
OMO                     Dec. 4             120 bln
Tbills                  Dec. 5             100 bln
    
    LIQUIDITY
    * The Reserve Bank of India said on Friday it accepted all
25 bids for 321.25 billion rupees at its three-day afternoon
repo auction, through which it injects liquidity into the
banking system. It also accepted all 4 bids for 2.50 billion
rupees at its reverse repo auction through which it injects
liquidity into the banking system. 
    * Indian banks' refinancing with RBI steady at 215.7 billion
rupees. 
    * Indian banks' cash balances with RBI fall to 2.87 trillion
rupees. 

 (Compiled by Swati Bhat; Editing by Subhadip Sircar)
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