Indian FX/debt factors to watch - Jan 17

Thu Jan 17, 2013 8:27am IST

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GLOBAL MARKETS ROUNDUP
    * Asian shares consolidated on Thursday as
better-than-expected U.S. earnings lifted sentiment, but
concerns over the global economic outlook and U.S. fiscal
problem capped markets. 
    * The euro struggled to regain its momentum on Thursday even
after a top European central banker sounded relaxed about its
recent run higher, while the yen hovered at one-week highs,
still underpinned by a wave of short-covering. 
    * Oil prices rose on Wednesday after an Algerian gas field
came under attack from Islamist militants and as data showed
crude stocks fell in the United States last week. 
    * U.S. Treasury debt prices rose on Wednesday, prompted by
bets the Federal Reserve will stick to its bond purchase
program, which aims to cut unemployment, as long as inflation
remains muted. 
       
    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 19,817.63 (-0.85)
    * NSE index 6,001.85 (-0.90 pct)
    * Rupee 54.69/70 per dollar (54.6150/6250)
    * 10-year bond yield 7.88 pct (7.83 pct) 
    * 5-year OIS rate 7.15 pct (7.10 pct) 
    * 1-year OIS rate 7.57 pct (7.49 pct) 
    * Call money 8.10/8.20 pct (8.05/8.10 pct)
       
    KEY FACTORS/EVENTS TO WATCH
    * The Prime Minister's Economic Advisory Council Chairman C.
Rangarajan will inaugurate a trade show on banking and will give
a speech. RBI Deputy Governor K.C. Chakrabarty will be attending
the event starting at 1000 GMT.
    * Reuters to publish poll on expectations from Indian
central bank's monetary policy on Jan. 29.
    
    OVERNIGHT NEWS
    * The amount of sovereign and corporate credit on the cusp
of being downgraded to junk status more than quadrupled in 2012,
due primarily to an erosion in the credit quality of the world's
banking sector, Standard & Poor's data showed on Wednesday.
 
    
    MAJOR DEALS/ACQUISITIONS
    * Telecom equipment maker Alcatel-Lucent SA has
won an eight-year contract valued at more than $1 billion to
manage Reliance Communications Ltd's mobile and fixed
networks in the east and south of India. 
    * A company of Mukesh Ambani's Reliance Group is scouting
for a 10 billion rupees ($182 mln) bond sale. The deal is at a
preliminary stage as still price levels are being sounded to
potential arrangers. (IFR)
    
    USD/INR NDFs (NY closing prices)   
    * For up-to-date prices, double click  
      Close      Open      High     Low      Volume  
    54.99-03    55.10     55.22    54.98      High
    
    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    Jan. 16*                 $187.90 mln#
    Month-to-date**            $2.13 bln 
    Year-to-date**             $2.13 bln         
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on Jan. 16 on
SEBI website.
    #(As per Reuters conversion, $1 = 54.70 rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *  
                              Debt             
    Jan. 15                $151.65 mln
    Month-to-date         -$116.22 mln
    Year-to-date          -$116.20 mln                    
    * Source: Data as per custodial filing as on Jan. 16 on SEBI
website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                Jan. 16
    Foreign Banks                       -4.02 bln
    Public Sector Banks                 21.25 bln
    Private Sector Banks                 0.46 bln
    Mutual Funds                       -17.25 bln 
    Others                               6.31 bln
    Primary Dealers                     -6.76 bln
    Source: Clearing Corp of India Ltd
          
    MONEY MARKET INFLOWS
Instrument               Payment    Date              Amount 
SDL 07.61%, 2016         Interest   Jan 18            266.54 
(8 States) 
SDL 08.67%, 2017         Interest   Jan 18            216.75 
(KARNATAKA) 
SDL 08.80%, 2022         Interest   Jan 18              8.80 
(ARUNACHAL PRADESH) 
SDL 08.83%, 2022         Interest   Jan 18            529.80 
(GUJARAT) 
SDL 08.84%, 2022         Interest   Jan 18           1215.50 
(3 States) 
SDL 08.85%, 2022         Interest   Jan 18           1508.93 
(4 States) 
SDL 08.88%, 2022         Interest   Jan 18            444.00 
(UTTAR PRADESH) 
SDL 08.89%, 2022         Interest   Jan 18            222.25 
(JAMMU & KASHMIR) 
SDL 08.91%, 2022         Interest   Jan 18            668.25 
(WEST BENGAL) 
91 days T-Bill           Redemption Jan 18          80210.00 
182 days T-Bill          Redemption Jan 18          50000.00
SDL 07.96%, 2017         Interest   Jan 19            199.00 
(TAMIL NADU) 
SDL 07.99%, 2017         Interest   Jan 19            285.48 
(3 States) 
SDL 08.52%, 2021         Interest   Jan 19            213.00 
(GUJARAT) 
SDL 08.53%, 2021         Interest   Jan 19            426.50 
(ANDHRA PRADESH) 
SDL 08.54%, 2021         Interest   Jan 19            800.63 
(MAHARASHTRA) 
SDL 08.55%, 2021         Interest   Jan 19            633.35 
(4 States) 
SDL 08.56%, 2021         Interest   Jan 19            214.00 
(UTTAR PRADESH) 
6.83% 2039               Interest   Jan 19           4439.50
For the entire table click on: 
    
    ISSUANCES
PAPER             AMOUNT           DATE
Dated bonds      120 bln rupees  Jan. 18

    LIQUIDITY
    * The Reserve Bank of India (RBI) said on Wednesday it
accepted all 33 bids for 842.20 billion rupees at its one-day
repo auction, through which it injects cash into the banking
system. It also accepted the sole bid for 50 million rupees at
its reverse repo auction, through which it absorbs cash from the
system. 
    * Indian banks' refinancing with RBI rises to 236.31 billion
rupees. 
    * Indian banks' cash balances with RBI rises to 2.99
trillion rupees. 

 (Compiled by Swati Bhat)
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