Indian FX/debt factors to watch - Jan 9

Wed Jan 9, 2013 8:12am IST

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GLOBAL MARKETS ROUNDUP
    * Asian shares inched up on Wednesday but the upside was
limited as investors waited warily for corporate earnings season
to kick off in full force, preferring in the meantime to book
profits from a sharp rally at the start of the year. 
    * The yen continued to rise against the dollar and the euro
in early Asian trading on Wednesday despite expectations of
further easing steps from the Bank of Japan, as investors locked
in gains. 
    * Brent crude rose in heavy trading on Tuesday and U.S.
crude dipped as the beginning of the annual rebalancing of a key
commodities index widened the spread between the two contracts. 
 
    * Prices for U.S. Treasuries advanced on Tuesday as higher
yields drew in buyers and the year's first sale of
coupon-bearing Treasury debt saw strong non-dealer bidding.
 
    
    EVENTS TO WATCH   
    * India cbank deputy governor H.R. Khan at capital market
seminar. (1130GMT)
    * Indian market regulator, exchange CEOs to attend capital
markets event.
    
    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 19,742.52 (0.26 pct)
    * NSE index 6,001.70 (0.22 pct)
    * Rupee 54.99/00 per dollar (55.23/24)
    * 10-year bond yield 7.91 pct (7.90 pct) 
    * 5-year OIS rate 7.18 pct (7.16 pct) 
    * 1-year OIS rate 7.57 pct (7.59 pct) 
    * Call money 8.00/8.10 pct (8.00/8.05 pct)
    
     MAJOR DEALS/ACQUISITIONS
    * ICICI Bank (Baa2/BB-) has made a beeline for the Singapore
dollar market even while Asian issuers are pushing out deals in
the U.S. dollar space. (IFR)
    * General syndication of the $1 billion loan backing GVK
Power & Infrastructure acquisition of assets from Australia's
Hancock Group closed last month. (IFR)
    * The overseas road shows for state-owned Oil India's
60.1m-share U$500m OFS have started. The road shows are being
held in Singapore, UAE and US. The domestic road shows were
completed last week. (IFR)

    USD/INR NDFs (NY closing prices)   
    * For up-to-date prices, double click  
      Close      Open      High     Low      Volume  
    55.30-33    55.45     55.44    55.25      High
    
    FIG INVESTMENTS-EQUITIES (Net dollars)                      
                        
    Jan. 8*                  $161.07 mln#
    Month-to-date**            $1.24 bln 
    Year-to-date**             $1.24 bln         
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on Jan. 8 on SEMI
website.
    #(As per Reuters conversion, $1 = 55.07 rupees)     
             
    FIG INVESTMENTS-DEBT (Net Dollars)  *  
                              Debt             
    Jan. 7                -$149.08 mln
    Month-to-date          $155.03 mln
    Year-to-date           $155.00 mln                    
    * Source: Data as per custodial filing as on Jan. 8 on SEMI
website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                Jan. 8
    Foreign Banks                      -11.65 bln
    Public Sector Banks                 -3.59 bln
    Private Sector Banks                 5.94 bln
    Mutual Funds                         7.40 bln 
    Others                               5.33 bln
    Primary Dealers                     -3.44 bln
    Source: Clearing Corp of India Ltd
          
    MONEY MARKET INFLOWS
Instrument               Payment    Date           Amount 
7.99% 2017               Interest   Jan 09          28364.50 
8.33% 2026               Interest   Jan 09          22491.00 
SDL 08.57%, 2022         Interest   Jan 11            149.98 
(PUNJAB) 
SDL 08.58%, 2022         Interest   Jan 11             21.45 
(MEGHALAYA) 
SDL 08.62%, 2022         Interest   Jan 11             43.10 
(UTTARAKHAND) 
SDL 08.69%, 2022         Interest   Jan 11            543.13 
(KARNATAKA) 
SDL 08.72%, 2022         Interest   Jan 11           2180.00 
(3 States) 
SDL 08.74%, 2022         Interest   Jan 11            269.63 
(RAJASTHAN) 
SDL 08.75%, 2022         Interest   Jan 11            787.50 
(2 States) 
SDL 09.81%, 2018         Interest   Jan 11            245.25 
(PUNJAB) 
91 days T-Bill           Redemption Jan 11          85500.00 
364 days T-Bill          Redemption Jan 11          40000.00 
For the entire table click on: 
    ISSUANCES 
ASSET                 DATE         AMOUNT (IN RUPEES) 
T-Bills               Jan 9        100 bln    

    LIQUIDITY
    * The Reserve Bank of India (RBI) said on Tuesday it
accepted all 25 bids for 808.65 billion rupees at its one-day
repo auction, through which it injects cash into the banking
system. It accepted a sole bid for 50 million rupees at its
reverse repo auction, through which it absorbs cash from the
system. 
    * Indian banks' refinancing with RBI falls to 209.99 billion
rupees. 
    * Indian banks' cash balances with RBI fall to 2.85 trillion
rupees. 

 (Compiled by Subhadip Sircar)
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