Indian FX/debt factors to watch - Jan 7
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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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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The government made a push on Wednesday to bolster its strained finances, offering to sell a stake in miner Coal India and more mobile phone airwaves as it aimed to deliver on a promise to trim its fiscal deficit. Full Article