Indian FX/debt factors to watch - Dec 17

Mon Dec 17, 2012 8:39am IST

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GLOBAL MARKETS ROUNDUP
    * The Liberal Democratic Party of Japan's electoral triumph
propelled the yen to a 20-month low against the dollar that saw
the Nikkei stock average touch a 8-1/2-month high on
expectations of much better export earnings. 
    * The yen slumped to its lowest in over a year-and-a-half
against the U.S. dollar on Monday as part of a broad skid after
Japan's conservative LDP party, pledged to hyper-easy monetary
policy, won a landslide victory at an election. 
    *  Oil prices rose on Friday on expectations for improved
demand in China after data showed the manufacturing sector of
the world's No. 2 oil consumer expanded in December at its
fastest pace in more than a year. 
    * U.S. Treasuries prices gained on Friday on tame inflation
data likely to help the Fed keep interest rates near zero, but
supply pressures and worries about Washington's budget fight
kept prices lower for the week overall. 

    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 19,317.25 points (0.46 pct)
    * NSE index 5,879.60 points (0.48 pct)
    * Rupee 54.4850/4950 per dollar (54.46/47)
    * 10-year bond yield 8.14 pct (8.16 pct) 
    * 5-year OIS rate 7.11 pct (7.10 pct) 
    * 1-year OIS rate 7.62 pct (7.66 pct) 
    * Call money 8.00/8.10 pct (8.00/8.10 pct)
    
    OVERNIGHT NEWS
    * India will speed up the sale of stakes in state companies
to revive the stock market and will push ahead with reforms
aimed at spurring an investment recovery in the flagging
economy, Prime Minister Manmohan Singh said on Saturday.
 
        
    KEY FACTORS/EVENTS TO WATCH
    * Raghuram Rajan, chief economic adviser at India's ministry
of finance will speak at a conference at 10.30 IST (5.00 GMT) on
the economy of South Indian state of Tamil Nadu. 
    
    
    MAJOR DEALS/ACQUISITIONS
    * ICICI Bank Ltd (Dubai branch), rated Baa2/BBB-/BBB-,
became the first Indian name to issue in Swiss francs for more
than nine months, mandating Deutsche Bank as sole lead for an
opportunistic debut, a minimum CHF100m seven-year deal.
[ID:nIFRSwZNP ]
    * 

    USD/INR NDFs (NY closing prices)  
    * For up-to-date prices, double click 
      Close      Open      High     Low      Volume 
    54.78-80    54.65     54.86    54.75    Moderate

    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    Dec. 14*                 $230.56 mln#
    Month-to-date**            $2.44 bln 
    Year-to-date**            $22.22 bln         
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on Dec. 14 on
SEBI website.
    #(As per Reuters conversion, $1 = 54.50 rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *  
                              Debt             
    Dec. 13                $148.22 mln
    Month-to-date           $64.80 mln
    Year-to-date             $6.39 bln                    
    * Source: Data as per custodial filing as on Dec. 14 on SEBI
website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                Dec. 14
    Foreign Banks                       14.53 bln
    Public Sector Banks                -65.26 bln
    Private Sector Banks                20.36 bln
    Mutual Funds                        15.39 bln 
    Others                              -3.39 bln
    Primary Dealers                     18.38 bln
    Source: Clearing Corp of India Ltd
    
    MONEY MARKET INFLOWS 
INSTRUMENT               PAYMENT    DATE  AMOUNT (IN MLN RUPEES)
 
SDL 07.33%, 2015         Interest   Dec 17            132.36 
(KERALA)
SDL 08.39%, 2017         Interest   Dec 19            314.63 
(2 States) 
SDL 08.40%, 2017         Interest   Dec 19            126.00 
(2 States) 
SDL 08.41%, 2017         Interest   Dec 19            378.45 
(PUNJAB) 
SDL 08.42%, 2017         Interest   Dec 19             86.66 
(4 States) 
SDL 08.43%, 2017         Interest   Dec 19            210.75 
(MADHYA PRADESH) 
SDL 08.58%, 2017         Interest   Dec 19            131.73 
(JAMMU & KASHMIR) 
SDL 08.45%, 2017         Interest   Dec 20            380.25 
(2 States) 
SDL 08.46%, 2017         Interest   Dec 20            211.50 
(RAJASTHAN) 
SDL 08.48%, 2017         Interest   Dec 20            440.79 
(3 States) 
SDL 08.49%, 2017         Interest   Dec 20            265.31 
(MADHYA PRADESH) 
SDL 08.52%, 2017         Interest   Dec 20            170.83 
(ASSAM) 
SDL 08.57%, 2017         Interest   Dec 20             42.85 
(JAMMU & KASHMIR) 
SDL 08.89%, 2022         Interest   Dec 20            711.20 
(2 States) 
SDL 08.90%, 2022         Interest   Dec 20             89.00 
(JHARKHAND) 
SDL 08.91%, 2022         Interest   Dec 20            356.40 
(HARYANA) 
SDL 08.92%, 2022         Interest   Dec 20            669.00 
(UTTAR PRADESH) 
SDL 08.95%, 2022         Interest   Dec 20            223.75 
(WEST BENGAL) 
For full table: 
    
    LIQUIDITY
    * The Reserve Bank of India said on Friday it accepted all
33 bids for 654.40 billion rupees at its three-day afternoon
repo auction, through which it injects liquidity into the
banking system. It said it also accepted all the four bids for 5
billion at its reverse repo auction through which it absorbs
liquidity from the system. 
    * Indian banks' refinancing with RBI rises to 240.36 billion
rupees. 
    * Indian banks' cash balances with RBI fall to 2.70 trillion
rupees. 

 (Compiled by Swati Bhat)
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