Indian FX/debt factors to watch - Dec 24

Mon Dec 24, 2012 8:50am IST

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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)
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