Indian FX/debt factors to watch - Dec 21

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)