Indian FX/debt factors to watch - Dec 4

Tue Dec 4, 2012 8:40am IST

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GLOBAL MARKETS ROUNDUP
    * Asian shares dipped on Tuesday after U.S. manufacturing
activity hit a three-year low in November, while the euro
hovered near a six-week high on optimism over a planned debt buy
back by Greece. 
    * The dollar slipped against the yen on Tuesday after U.S.
manufacturing activity hit a three-year low in November, while
the euro succumbed to profit-taking after hitting highs against
both the dollar and the yen the previous day. 
    * Brent oil prices turned lower on Monday after data showed
U.S. manufacturing activity slowed to a three-year low,
offsetting more optimistic figures from China. 
    * U.S. Treasuries prices eased on Monday after Spain sought
help for its banks and data showed the pace of Chinese
manufacturing quickened, damping demand for safe-haven U.S.
debt. 

    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 19,305.32 points (-0.18 pct)
    * NSE index 5,870.95 points (-0.15 pct)
    * Rupee 54.77/78 per dollar (54.26/27)
    * 10-year bond yield 8.17 pct (8.18 pct) 
    * 5-year OIS rate 7.12 pct (7.12 pct) 
    * 1-year OIS rate 7.71 pct (7.72 pct) 
    * Call money 8.00/8.05 pct (8.00/8.05 pct)
    
    KEY FACTORS/EVENTS TO WATCH
    * The lower house of India's parliament begins a debate on
supermarket reform.
    * The Reserve Bank of India's (RBI) Deputy Governor Subir
Gokarn will address an Economics Conclave organised by the
School of Economics, Narsee Monjee Institute of Management
Studies. Event scheduled at 0430 GMT.

    MAJOR DEALS/ACQUISITIONS
    * India's Sterlite Industries plans to raise 5
billion rupees ($91.92 million) through a bond issue at 9.24
percent, a source with direct knowledge of the deal told Reuters
on Monday. 
    * United Bank of India on Friday priced its 3 bln rupees
(USD55.15 mln) perpetual bonds at 9.27 percent. The bonds have a
call option at the end of the tenth year. The bonds are locally
rated AA. The deal settles on Wednesday. (IFR) 
    * Network18 Media & Investments Ltd will sell its
shareholding in news provider Newswire18, the company said in a
statement to the stock exchange, in a deal worth 900 million
rupees ($16.6 million). 
    * Shares in India's Jet Airways rose over 7 percent
on a report in Mint newspaper that the airline will soon seek
regulatory approval to tweak its ownership pattern to facilitate
a stake sale to Etihad Airways. 

    USD/INR NDFs (NY closing prices)  
    * For up-to-date prices, double click 
      Close      Open      High     Low      Volume 
    54.88-92    54.89     54.98    54.85      High

    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    Dec. 3*                   $55.23 mln#
    Month-to-date (Nov)**      $2.00 bln 
    Year-to-date**            $20.08 bln         
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on Dec. 3 on SEBI
website.
    #(As per Reuters conversion, $1 = 54.80 rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *  
                              Debt             
    Nov. 30               -$193.73 mln
    Month-to-date (Nov)    $276.11 mln
    Year-to-date             $6.14 bln                    
    * Source: Data as per custodial filing as on Dec. 3 on SEBI
website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                Dec. 3
    Foreign Banks                        2.17 bln
    Public Sector Banks                 -0.66 bln
    Private Sector Banks                -5.18 bln
    Mutual Funds                         3.45 bln 
    Others                               2.22 bln
    Primary Dealers                     -2.00 bln
    Source: Clearing Corp of India Ltd
    
    MONEY MARKET INFLOWS
INSTRUMENT               PAYMENT     DATE  MOUNT (IN MLN RUPEES)
5.59% 2016               Interest   Dec 04         1677.00 
6.13% 2028               Interest   Dec 04         3371.50 
8.97% 2030               Interest   Dec 05        27358.50 
SDL 08.86%, 2022         Interest   Dec 06          332.25 
(ANDHRA PRADESH) 
SDL 08.87%, 2022         Interest   Dec 06          722.91 
(3 States) 
SDL 08.88%, 2022         Interest   Dec 06          666.00 
(GUJARAT) 
SDL 08.90%, 2022         Interest   Dec 06           55.63 
(TRIPURA) 
    
    WEEKLY GOVERNMENT AUCTIONS 
MATURITIES                 DATE          AMOUNT (In rupees)   
Bond repurchase via OMO   Dec. 4              120 bln
Tbills                    Dec. 5              100 bln
Dated govt securities     Dec. 7              120 bln
        
    LIQUIDITY
    * The Reserve Bank of India said on Monday it accepted all
41 bids for 1.13 trillion rupees at its one-day repo auction,
through which it injects liquidity into the banking system. It
said it did not get any bids at its reverse repo auction through
which it injects liquidity into the banking system.
 
    * Indian banks' refinancing with RBI falls to 212.65 billion
rupees. 
    * Indian banks' cash balances with RBI rise to 2.88 trillion
rupees. 

 (Compiled by Swati Bhat)
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