Indian FX/debt factors to watch - Dec 24

GLOBAL MARKETS ROUNDUP
* Asian shares steadied in quiet pre-holiday trade after a
slump late last week, but markets have become more jittery about
the risk of the United States failing to avert a fiscal crisis.

* The yen dipped and neared a 20-month low versus the
dollar on Monday after incoming premier Shinzo Abe renewed
pressure on the Bank of Japan to adopt a 2 percent inflation
target.
* Oil prices fell more than 1 percent on Friday, eroding
this week's earlier gains after Republican lawmakers in the
United States withheld support for a proposal to avert the
so-called fiscal cliff.
* U.S. Treasuries gained a safety bid on Friday after House
of Representatives Speaker John Boehner failed to gain support
for a tax plan, hurting stocks on concerns that lawmakers will
be unable to reach a deal to avert the "fiscal cliff."

LOCAL MARKETS PREVIOUS CLOSE
* BSE index 19,242 (-1.09 pct)
* NSE index 5,847.70 (-1.16 pct)
* Rupee 55.06/07 per dollar (54.8450/8550)
* 10-year bond yield 8.14 pct (8.15 pct)
* 5-year OIS rate 7.17 pct (7.16 pct)
* 1-year OIS rate 7.67 pct (7.65 pct)
* Call money 7.90/8.00 pct (8.05/8.10 pct)

KEY FACTORS/EVENTS TO WATCH
* Ministerial meet to discuss coal regulator

MAJOR DEALS/ACQUISITIONS
* The promoters of India's Adani Enterprises are set to
raise 6.5 billion rupees (US$118m) by selling 23 million shares
at an average price of 283.99 rupees apiece, a premium to the
market price. The offer for sale drew bids for a total of 23.9
million shares.
* IDBI Bank has updated and enlarged its existing US dollar
MTN programme by as much as $2 billion, taking the size of the
programme to $3.5 billion. The previous programme was first
established on November 14 in 2007.

FII INVESTMENTS-EQUITIES (Net dollars)

Dec. 21* $107.62 mln#
Month-to-date** $3.37 bln
Year-to-date** $23.15 bln
* Provisional NSE data
** Source: Data as per custodial filing as on Dec. 24 on
SEBI website.
#(As per Reuters conversion, $1 = 55.1050 rupees)

FII INVESTMENTS-DEBT (Net Dollars) *
Debt
Dec. 21 $39.59 mln
Month-to-date $93.66 mln
Year-to-date $6.43 bln
* Source: Data as per custodial filing as on Dec. 24 on SEBI
website.

GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
Dec. 20
Foreign Banks 1.60 bln
Public Sector Banks -15.47 bln
Private Sector Banks -2.35 bln
Mutual Funds 9.31 bln
Others 7.44 bln
Primary Dealers -0.52 bln
Source: Clearing Corp of India Ltd

MONEY MARKET INFLOWS
INSTRUMENT PAYMENT DATE AMT (IN MLN RUPEES)
SDL 06.34%, 2018 Interest Dec 24 61.96
(JHARKHAND)
SDL 06.38%, 2018 Interest Dec 24 255.20
(KERALA)
SDL 06.40%, 2018 Interest Dec 24 320.00
(TAMIL NADU)
SDL 06.41%, 2018 Interest Dec 24 372.42
(RAJASTHAN)
SDL 06.43%, 2018 Interest Dec 24 285.40
(WEST BENGAL)
SDL 06.45%, 2018 Interest Dec 24 241.88
(BIHAR)
SDL 07.80%, 2019 Interest Dec 24 19.50
(MEGHALAYA)
SDL 07.82%, 2019 Interest Dec 24 195.50
(PUNJAB)
SDL 07.83%, 2019 Interest Dec 24 1526.85
(6 States)
SDL 07.84%, 2019 Interest Dec 24 196.00
(UTTAR PRADESH)
SDL 07.89%, 2019 Interest Dec 24 394.50
(BIHAR)
SDL 08.09%, 2020 Interest Dec 24 202.25
(RAJASTHAN)
SDL 08.11%, 2020 Interest Dec 24 405.50
(ANDHRA PRADESH)
SDL 08.13%, 2020 Interest Dec 24 325.20
(UTTAR PRADESH)
SDL 08.35%, 2019 Interest Dec 24 417.50
(2 States)
SDL 08.36%, 2019 Interest Dec 24 418.00
(TAMIL NADU)
SDL 08.37%, 2019 Interest Dec 24 194.60
(PUNJAB)
SDL 08.40%, 2019 Interest Dec 24 84.00
(2 States)
SDL 08.42%, 2019 Interest Dec 24 421.00
(WEST BENGAL)
SDL 08.44%, 2019 Interest Dec 24 633.00
(UTTAR PRADESH)
11.60% 2020 Interest Dec 27 2900.00
91 days T-Bill Redemption Dec 28 77597.90
364 days T-Bill Redemption Dec 28 40020.00
For full table:

ISSUANCES
ASSET DATE AMOUNT (IN RUPEES)
Tbills Dec. 26 100 bln

LIQUIDITY
* The Reserve Bank of India (RBI) said on Friday it accepted
all 49 bids for 1.6 trillion rupees ($29.6 billion) at its
three-day repo auction, through which it injects cash into the
banking system. It said it accepted the sole bid for 500 million
rupees ($9.07 million) at its three-day reverse repo auction.

* Indian banks' refinancing with RBI rises to 254.99 billion
rupees.
* Indian banks' cash balances with RBI rose to 2.91 trillion
rupees.

(Compiled by Archana Narayanan)