Indian FX/debt factors to watch - Jan 2

Wed Jan 2, 2013 8:30am IST

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GLOBAL MARKETS ROUNDUP
    * Asian stocks started new year trading with tentative gains
as investors anxiously wait to see if the U.S. Congress can
strike a last-minute compromise and avert the harsh "fiscal
cliff" tax rises and spending cuts that are technically already
in force. 
    * The safe haven dollar fell on Wednesday as the U.S. House
of Representatives seemed to take a step closer to striking a
last-minute deal to avoid triggering a fiscal crunch that could
threaten the global economy. 
    * Brent crude rose on Monday, closing 2012 up for the fourth
straight year after geopolitical threats to production offset
worries about flagging oil demand. 
    * U.S. Treasury debt prices eased on Monday with long,
30-year bonds falling over a point in price as lawmakers in
Washington came closer to reaching an agreement to avert the
"fiscal cliff." 

    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 19,580.81 (0.79 pct)
    * NSE index 5,950.85 (0.77 pct)
    * Rupee 54.68/69 per dollar (54.99/55.00)
    * 10-year bond yield 7.99 pct (8.05 pct) 
    * 5-year OIS rate 7.10 pct (7.12 pct) 
    * 1-year OIS rate 7.59 pct (7.60 pct) 
    * Call money 8.00/8.05 pct (8.90/9.00 pct)
    
    OVERNIGHT NEWS
    * India's central bank said on Tuesday the monetary policy
department would directly report to Governor Duvvuri Subbarao
till further orders, with Subir Gokarn's term as a deputy
governor coming to a close. 
       
    USD/INR NDFs (NY closing prices)   
    * For up-to-date prices, double click  
      Close      Open      High     Low      Volume  
    54.92-97    55.07     55.29    54.93    Moderate
    
    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    Jan. 1*                  $121.58 mln#
    Month-to-date (Dec)**      $4.75 bln 
    Year-to-date (2012)**     $24.55 bln         
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on Jan. 1 on SEBI
website.
    #(As per Reuters conversion, $1 = 54.70 rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *  
                              Debt             
    Dec. 31                 $66.58 mln
    Month-to-date (Dec)    $379.75 mln
    Year-to-date (2012)      $6.86 bln                    
    * Source: Data as per custodial filing as on Jan. 1 on SEBI
website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                Jan. 1
    Foreign Banks                        6.63 bln
    Public Sector Banks                 -2.75 bln
    Private Sector Banks               -18.65 bln
    Mutual Funds                        12.40 bln 
    Others                               8.50 bln
    Primary Dealers                     -6.14 bln
    Source: Clearing Corp of India Ltd
       
    ISSUANCES
ASSET                 DATE         AMOUNT (IN RUPEES)
T-Bills               Jan 2        100 bln              
    
    MONEY MARKET INFLOWS
Instrument               Payment    Date           Amount 
                                               (mln rupees)
8.24% FRB 2015           Interest   Jan 02           2472.00 
12.30% 2016              Interest   Jan 02           8074.86 
8.38% FRB 2017           Interest   Jan 02           1257.00 
6.25% 2018               Interest   Jan 02           5277.13 
5.64% 2019               Interest   Jan 02           2820.00 
6.35% 2020               Interest   Jan 02          19367.50 
8.30% 2040               Interest   Jan 02          29880.00 
8.07% JUL 2017           Interest   Jan 03          17754.00 
SDL 08.89%, 2022         Interest   Jan 04            222.25 
(RAJASTHAN) 
SDL 08.90%, 2022         Interest   Jan 04            578.50 
(2 States) 
SDL 08.91%, 2022         Interest   Jan 04            637.07 
(2 States) 
SDL 08.92%, 2022         Interest   Jan 04             22.30 
(MEGHALAYA) 
91 days T-Bill           Redemption Jan 04          80000.00 
182 days T-Bill          Redemption Jan 04          50000.00 
        
    LIQUIDITY
    * The Reserve Bank of India (RBI) said on Tuesday it
accepted all 48 bids for 1.50 trillion rupees at its one-day
repo auction, through which it injects cash into the banking
system. It also accepted all 3 bids for 24.30 billion rupees at
its reverse repo auction, through which it absorbs cash from the
system. 
    * Indian banks' refinancing with RBI rises to 241.64 billion
rupees. 
    * Indian banks' cash balances with RBI falls to 2.69
trillion rupees. 

 (Compiled by Swati Bhat)
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