"Handshake across the Himalayas"
India and China will study new ways to ease tensions along their ill-defined border, Chinese Premier Li Keqiang said on Monday in his first foreign trip since taking office, which comes just weeks after a military stand-off between the Asian giants in the Himalayas. Full Article | Slideshow
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Indian FX/debt factors to watch - Jan 4
GLOBAL MARKETS ROUNDUP * Asian shares fell on Friday, tracking overnight weakness in global equities, but the dollar gained as U.S. debt yields rose after several Federal Reserve officials expressed concerns about continuing to expand stimulative bond buying. * The dollar rose to its highest against the yen in nearly 2 1/2 years on Friday, while the euro also firmed against the yen on expectations that this year will bring more monetary stimulus by the Bank of Japan. * Brent crude fell below $112 a barrel on Friday as growing doubts within the U.S. Federal Reserve about the side effects of its stimulus programme and the prospect of more budget battles in Washington curbed investor appetite for riskier assets. * Yields on benchmark U.S. government debt hit a near eight-month high on Thursday on signs of growing doubts within the Federal Reserve on its bond-buying programme and after stronger-than-expected private jobs data lifted hopes for Friday's labour figures. LOCAL MARKETS PREVIOUS CLOSE * BSE index 19,764.78 (+0.26 pct) * NSE index 6,009.50 (+0.27 pct) * Rupee 54.49/50 per dollar (54.35/36) * 10-year bond yield 7.97 pct (7.99 pct) * 5-year OIS rate 7.12 pct (7.11 pct) * 1-year OIS rate 7.59 pct (7.58 pct) * Call money 7.95/8.05 pct (8.00/8.05 pct) KEY FACTORS/EVENTS TO WATCH * India-Services PMI for December to be published at 10:30 IST (0530 GMT) * India foreign exchange reserves data to be published by the central bank at 1130 GMT. OVERNIGHT NEWS * The Reserve Bank of India Governor Duvvuri Subbarao said on Thursday central banks need to be independent to make monetary policy decisions during a speech at a memorial event for the country's first Indian central bank governor. MAJOR DEALS/ACQUISITIONS * Jet Airways said it was in talks with Abu Dhabi's Etihad Airways for a potential stake sale in the Indian carrier, although terms have not been finalised yet. The statement was the first confirmation of a potential deal by either side, a day after an Indian government source said the Gulf carrier could pay up to $330 million for a 24 percent stake in Jet. USD/INR NDFs (NY closing prices) * For up-to-date prices, double click Close Open High Low Volume 54.87-92 54.65 54.82 54.72 Moderate FII INVESTMENTS-EQUITIES (Net dollars) Jan. 3* $256.40 mln# Month-to-date** $564.13 mln Year-to-date** $564.10 mln * Provisional NSE data ** Source: Data as per custodial filing as on Jan. 3 on SEBI website. #(As per Reuters conversion, $1 = 54.50 rupees) FII INVESTMENTS-DEBT (Net Dollars) * Debt Jan. 2 $39.09 mln Month-to-date $154.37 mln Year-to-date $154.40 mln * Source: Data as per custodial filing as on Jan. 3 on SEBI website. GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees) Jan. 3 Foreign Banks -3.12 bln Public Sector Banks 2.69 bln Private Sector Banks 11.98 bln Mutual Funds -4.10 bln Others 3.24 bln Primary Dealers -10.68 bln Source: Clearing Corp of India Ltd MONEY MARKET INFLOWS Instrument Payment Date Amount (mln rupees) 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 SDL 08.38%, 2021 Interest Jan 05 209.50 (GUJARAT) SDL 08.39%, 2020 Interest Jan 05 262.19 (TAMIL NADU) SDL 08.39%, 2021 Interest Jan 05 587.30 (2 States) SDL 08.42%, 2021 Interest Jan 05 201.70 (JAMMU & KASHMIR) For the entire table click on: LIQUIDITY * The Reserve Bank of India (RBI) said on Thursday it accepted all 31 bids for 972.65 billion rupees at its one-day repo auction, through which it injects cash into the banking system. It also accepted all 3 bids received for 24.05 billion rupees at its reverse repo auction, through which it absorbs cash from the system. * Indian banks' refinancing with RBI falls to 206.76 billion rupees. * Indian banks' cash balances with RBI rise to 3.24 trillion rupees. (Compiled by Swati Bhat)
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