Indian FX/debt factors to watch - Dec 27
GLOBAL MARKETS ROUNDUP * Asian shares were capped on Thursday on investor edginess about the chances of U.S. lawmakers striking a deal to avoid a fiscal crunch by Dec. 31, while the yen stayed under pressure on the prospect of drastic monetary easing and massive fiscal spending. * The yen hit a two-year low against the dollar on Thursday, reflecting expectations that the new government of Prime Minister Shinzo Abe will push to weaken Japan's currency and implement aggressive stimulus. * U.S. oil futures rose to their highest in more than nine weeks on Wednesday on hopes that renewed talks will prevent a U.S. fiscal crisis, and as cold weather and technical buying added to the upward momentum. * U.S. Treasuries gained in price on Wednesday in light, post-Christmas trading, on chances of new volatility over fears about tax increases and spending cuts due to kick in as early as next week. LOCAL MARKETS PREVIOUS CLOSE * BSE index 19,417.46 (0.84 pct) * NSE index 5,905.60 (0.85 pct) * Rupee 54.8350/8450 per dollar (54.95/96) * 10-year bond yield 8.11 pct (8.13 pct) * 5-year OIS rate 7.16 pct (7.17 pct) * 1-year OIS rate 7.63 pct (7.63 pct) * Call money 8.10/8.15 pct (8.05/8.15 pct) KEY FACTORS/EVENTS TO WATCH * Indian Prime Minister to finalise economic targets for five years to 2017 at a meeting of the National Development Council. MAJOR DEALS/ACQUISITIONS * * India has rejected a proposal by autos-to-software conglomerate Mahindra & Mahindra Ltd to set up a joint venture with Israel's Rafael Advanced Defense Systems Ltd, a government statement said on Wednesday. * India's cabinet approved selling a further stake in state-run Rashtriya Chemicals & Fertilizers Ltd, a minister said on Wednesday. USD/INR NDFs (NY closing prices) * For up-to-date prices, double click Close Open High Low Volume 55.03.08 55.17 55.18 55.03 Moderate FII INVESTMENTS-EQUITIES (Net dollars) Dec. 26* $135.63 mln# Month-to-date** $4.27 bln Year-to-date** $24.05 bln * Provisional NSE data ** Source: Data as per custodial filing as on Dec. 26 on SEBI website. #(As per Reuters conversion, $1 = 54.8550 rupees) FII INVESTMENTS-DEBT (Net Dollars) * Debt Dec. 24 $141.44 mln Month-to-date $393.82 mln Year-to-date $6.72 bln * Source: Data as per custodial filing as on Dec. 26 on SEBI website. GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees) Dec. 26 Foreign Banks 2.51 bln Public Sector Banks -21.50 bln Private Sector Banks 8.94 bln Mutual Funds 6.89 bln Others -2.91 bln Primary Dealers 6.07 bln Source: Clearing Corp of India Ltd MONEY MARKET INFLOWS INSTRUMENT PAYMENT DATE AMT (IN MLN RUPEES) 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) Bond Sale Dec. 28 120 bln OMOs Dec. 28 80 bln LIQUIDITY * The Reserve Bank of India (RBI) said on Wednesday it accepted all 42 bids for 1.36 trillion rupees at its one-day repo auction, through which it injects cash into the banking system. It accepted both bids for 1.55 billion rupees at its one-day reverse repo auction. * Indian banks' refinancing with RBI falls to 222.62 billion rupees. * Indian banks' cash balances with RBI rise to 3.03 trillion rupees. (Compiled by Subhadip Sircar)
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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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