Indian FX/debt factors to watch - Jan 7

Mon Jan 7, 2013 8:19am IST

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GLOBAL MARKETS ROUNDUP
    *  Asian shares outside Japan edged up on Monday, supported
by data showing the U.S. economy continuing on a path of slow
but steady recovery that had pushed Wall Street stocks to a
five-year high. 
    * The dollar traded close to 2 1/2-year highs against the
yen on Monday, while the euro began the week slightly weaker
against its major counterparts as investors pondered the
possible outcomes of more monetary stimulus this year from Japan
and less from the U.S. Federal Reserve. 
    * Brent crude fell on Friday as a U.S. government report
showing weak demand for fuel by the world's top consumer
outweighed a jobs report that showed employers kept the pace of
hiring steady in December. 
    * Yields on benchmark U.S. Treasuries hovered around
eight-month highs on Friday on worries the Federal Reserve could
pare asset purchases by the end of the year if the economy
improves enough. 

    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 19,784.08 (+0.1 pct)
    * NSE index 6,016.15 (+0.11 pct)
    * Rupee 55.07/08 per dollar (54.49/50)
    * 10-year bond yield 7.93 pct (7.97 pct) 
    * 5-year OIS rate 7.14 pct (7.12 pct) 
    * 1-year OIS rate 7.58 pct (7.59 pct) 
    * Call money 8.00/8.10 pct Fri close (7.95/8.05
pct)
    
    KEY FACTORS/EVENTS TO WATCH
    * An Indian ministerial panel will meet again at 0430 GMT on
Monday to discuss the government's plan for the next airwave
auction. (0430 GMT)
    * Reserve Bank of India's Deputy Governor K.C. Chakrabarty
and finance ministry officials will be at a pre-budget
discussion with bankers and representatives of financial
institutions in Delhi. (0630 GMT)
    * Reserve Bank of India Deputy Governor Anand Sinha at a
discussion session on issues and concerns in the non-banking
finance sector. (1030 GMT)
    
    OVERNIGHT NEWS
    * Nine Indian states will raise at least 59.08 billion
rupees ($1.07 billion) through state development loans on Jan.
8, the Reserve Bank of India said on Friday. 
     
    MAJOR DEALS/ACQUISITIONS
    *  India has short-listed six banks, including Goldman Sachs
, Citigroup and Morgan Stanley, for a
selldown of state shares worth $2.3 billion in power producer
NTPC Ltd,  three sources with direct knowledge of the sale said.
 
    *  British telecommunications carrier Vodafone Group Plc
 said on Saturday it has received a reminder from Indian
tax authorities on disputed tax dues over its 2007 acquisition
of Indian mobile assets. 
    *  Export-Import Bank of India became the first Indian
issuer to tap the market in 2013 as it offers a 10-year bond at
an initial price talk of T+260bp area. (IFR) 
    * State-run central transmission utility Power Grid Corp of
India (PGCIL) has become the first Indian issuer to hold
investor meetings for a potential US dollar bond in 2013. (IFR)
    * Western UP Power Transmission Company, a SPV of Gomti
Power Infrastructure (85 percent) and Megha Engineering &
Infrastructures (15 percent), has raised an about 37.7 billion
rupees ($687 million) 15-year loan. (IFR)

    USD/INR NDFs (NY closing prices)   
    * For up-to-date prices, double click  
      Close      Open      High     Low      Volume  
    55.09-14    55.38     55.48    55.09     High
    
    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    Jan. 4*                  $211.19 mln#
    Month-to-date**          $828.67 mln 
    Year-to-date**           $828.70 mln         
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on Jan. 4 on SEBI
website.
    #(As per Reuters conversion, $1 = 55.115 rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *  
                              Debt             
    Jan. 3                 $232.28 mln
    Month-to-date          $386.65 mln
    Year-to-date           $386.70 mln                    
    * Source: Data as per custodial filing as on Jan. 4 on SEBI
website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                Jan. 4
    Foreign Banks                      -10.98 bln
    Public Sector Banks                 22.48 bln
    Private Sector Banks                 5.62 bln
    Mutual Funds                        -2.81 bln 
    Others                              -0.33 bln
    Primary Dealers                    -13.92 bln
    Source: Clearing Corp of India Ltd
          
    MONEY MARKET INFLOWS
Instrument               Payment    Date           Amount 
                                               (mln rupees)
SDL 05.80%, 2019         Interest   Jan 07            290.00 
(ANDHRA PRADESH) 
SDL 06.00%, 2019         Interest   Jan 07            270.00 
(MADHYA PRADESH) 
SDL 06.05%, 2019         Interest   Jan 07            567.19 
(GUJARAT) 
SDL 06.10%, 2019         Interest   Jan 07            587.77 
(4 States) 
SDL 08.12%, 2020         Interest   Jan 07             81.20 
(UTTARAKHAND) 
SDL 08.15%, 2020         Interest   Jan 07            509.38 
(2 States) 
SDL 08.16%, 2020         Interest   Jan 07            382.50 
(TAMIL NADU) 
SDL 08.17%, 2020         Interest   Jan 07            408.50 
(WEST BENGAL) 
SDL 08.19%, 2020         Interest   Jan 07            409.50 
(UTTAR PRADESH) 
SDL 08.22%, 2020         Interest   Jan 07             41.10 
(HIMACHAL PRADESH) 
SDL 08.23%, 2020         Interest   Jan 07             82.30 
(PUNJAB) 
SDL 08.26%, 2020         Interest   Jan 07            206.50 
(JAMMU & KASHMIR) 
SDL 08.30%, 2020         Interest   Jan 07            622.50 
(2 States) 
SDL 08.32%, 2020         Interest   Jan 07           1062.05 
(2 States) 
SDL 08.33%, 2020         Interest   Jan 07            624.75 
(GUJARAT) 
SDL 08.64%, 2021         Interest   Jan 07            324.00 
(TAMIL NADU) 
SDL 08.65%, 2021         Interest   Jan 07            519.00 
(2 States) 
SDL 08.66%, 2021         Interest   Jan 07            779.40 
(ANDHRA PRADESH) 
SDL 08.69%, 2021         Interest   Jan 07            651.75 
(UTTAR PRADESH) 
For the entire table click on: 
    
    LIQUIDITY
    * The Reserve Bank of India (RBI) said on Friday it accepted
all 22 bids for 608.60 billion rupees at its three-day repo
auction, through which it injects cash into the banking system.
It also accepted all 2 bids received for 9.05 billion rupees at
its reverse repo auction, through which it absorbs cash from the
system. 
    * Indian banks' refinancing with RBI falls to 206.36 billion
rupees. 
   * Indian banks' cash balances with RBI rise to 3.29 trillion
rupees. 
   * Indian banks borrowed 17.70 billion rupees ($322.99
million) through the central bank's marginal standing facility
(MSF) on Jan. 3.  

 (Compiled by Subhadip Sircar)
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