Indian FX/debt factors to watch - Dec 21

Fri Dec 21, 2012 8:30am IST

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GLOBAL MARKETS ROUNDUP
    * Asian shares slid on Friday after a Republican proposal to
fend off a U.S. fiscal crunch failed to get enough support,
deepening uncertainty over prospects for the negotiations to
avert automatic spending cuts and tax increases set to start in
January. 
    * The euro fell against the dollar on Friday as Republican
House Speaker John Boehner abandoned his Bill to avoid the
"fiscal cliff", conceding there weren't enough votes for it in
the chamber. 
    * U.S. crude oil futures edged higher while Brent futures
slid in choppy trading on Thursday as Republicans pushed their
budget proposal but indicated their will to work with the Obama
administration to resolve the nation's budget crisis. 
    * U.S. 10-year Treasuries rose in Asia on Friday, with
yields moving away from an 8-week high hit this week, after
Speaker of the U.S. House of Representatives John Boehner
conceded that his tax bill designed to help avert "the fiscal
cliff" lacked the votes to pass. 

    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 19,453.92 (-0.11 pct)
    * NSE index 5,916.40 (-0.22 pct)
    * Rupee 54.8450/8550 per dollar (54.55/56)
    * 10-year bond yield 8.15 pct (8.15 pct) 
    * 5-year OIS rate 7.16 pct (7.17 pct) 
    * 1-year OIS rate 7.65 pct (7.66 pct) 
    * Call money 8.05/8.10 pct (8.10/8.15 pct)
    
    OVERNIGHT NEWS
    * India received bids worth 215.35 billion rupees ($3.94
billion) for unused foreign debt limits for government and
corporate bonds, more than the 165.50 billion rupees on offer,
two market sources said on Tuesday. 
        
    KEY FACTORS/EVENTS TO WATCH
    * India foreign exchange reserves data to be published by
RBI at 1130 GMT.
      
    MAJOR DEALS/ACQUISITIONS
    * India's Power Finance Corp Ltd invited quotes on
Thursday to raise at least 1.5 billion rupees ($27.47 million)
through two-year bonds, according to a term sheet obtained by
Reuters. 
        
    USD/INR NDFs (NY closing prices)  
    * For up-to-date prices, double click 
      Close      Open      High     Low      Volume 
    55.10-15    55.12     55.28    55.16      High

    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    Dec. 20*                  $85.17 mln#
    Month-to-date**            $3.27 bln 
    Year-to-date**            $23.05 bln         
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on Dec. 20 on
SEBI website.
    #(As per Reuters conversion, $1 = 54.80 rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *  
                              Debt             
    Dec. 19                 $43.06 mln
    Month-to-date          $133.25 mln
    Year-to-date             $6.46 bln                    
    * Source: Data as per custodial filing as on Dec. 20 on SEBI
website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                Dec. 20
    Foreign Banks                        4.85 bln
    Public Sector Banks                 -6.96 bln
    Private Sector Banks                -0.82 bln
    Mutual Funds                         1.95 bln 
    Others                               2.77 bln
    Primary Dealers                     -1.79 bln
    Source: Clearing Corp of India Ltd
    
    MONEY MARKET INFLOWS 
INSTRUMENT               PAYMENT    DATE     AMT (IN MLN RUPEES)
SDL 08.78%, 2021         Interest   Dec 21            676.06 
(2 States) 
SDL 08.79%, 2021         Interest   Dec 21            879.00 
(MAHARASHTRA) 
SDL 08.80%, 2021         Interest   Dec 21           1284.36 
(3 States) 
SDL 08.81%, 2021         Interest   Dec 21            572.65 
(WEST BENGAL) 
SDL 08.83%, 2021         Interest   Dec 21            176.60 
(2 States) 
SDL 08.88%, 2021         Interest   Dec 21            222.00 
(RAJASTHAN) 
SDL 08.90%, 2021         Interest   Dec 21             66.75 
(NAGALAND) 
8.30% FRB 2020           Interest   Dec 21           5395.00 
91 days T-Bill           Redemption Dec 21         113292.50 
182 days T-Bill          Redemption Dec 21          50000.00
SDL 08.34%, 2020         Interest   Dec 22           1042.50 
(2 States) 
SDL 08.35%, 2020         Interest   Dec 22            208.75 
(ANDHRA PRADESH) 
SDL 08.37%, 2020         Interest   Dec 22             79.52 
(2 States) 
SDL 08.54%, 2021         Interest   Dec 22            277.55 
(PUNJAB) 
SDL 08.56%, 2021         Interest   Dec 22           1070.00 
(3 States) 
SDL 08.60%, 2021         Interest   Dec 22            430.00 
(ANDHRA PRADESH) 
7.35% 2024               Interest   Dec 22           3675.00 
SDL 06.80%, 2012         Redemption Dec 23          34520.47 
(22 States) 
For full table: 
    
    ISSUANCES
ASSET                 DATE         AMOUNT (IN RUPEES)
Dated bonds          Dec. 21            120 bln  
    
    LIQUIDITY
    * The Reserve Bank of India said on Thursday it accepted all
47 bids for 1.70 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 absorbs liquidity from the system. 
    * Indian banks' refinancing with RBI rises to 249.51 billion
rupees. 
    * Indian banks' cash balances with RBI fall to 2.87 trillion
rupees. 

 (Compiled by Swati Bhat)
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