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)
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
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U.S. President Barack Obama ended a landmark day in India on Monday with a pledge of $4 billion in investments and loans, seeking to release what he called the "untapped potential" of a business and strategic partnership between the world's largest democracies. Full Article | Slideshow