Indian FX/debt factors to watch - Jan 28

Mon Jan 28, 2013 8:46am IST

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GLOBAL MARKETS ROUNDUP
    * Japanese equities rose on Monday as the yen extended
losses to fresh lows, further improving earnings prospects for
exporters as Japan's corporate reporting season enters full
swing this week. 
    * The euro was buoyed near an 11-month high against the
dollar on Monday on mounting signs of recovering economic
confidence in Europe, while the yen slipped to a 2-1/2-year low
versus the dollar on expectations of more monetary easing in
Japan. 
    * Oil traders sold crude to book profits on Friday after
strong data from major economies increased optimism about the
state of the world economy and underpinned gains made during the
week. 
    * U.S. Treasuries yields surged to their highest in three
weeks on Friday after data showed European banks are repaying
more emergency loans than expected, suggesting the region is
healing and reducing demand for safe-haven debt. 
       
    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 20,103.53 (+0.90 pct)
    * NSE index 6,074.65 (+0.92 pct)
    * Rupee 53.68/69 per dollar (53.665/675)
    * 10-year bond yield 7.88 pct (7.86 pct) 
    * 5-year OIS rate 7.14 pct (7.14 pct) 
    * 1-year OIS rate 7.56 pct (7.55 pct) 
    * Call money 8.00/8.05 pct (8.00/8.10 pct)
    
    FACTORS TO WATCH
    * The Reserve Bank of India will release its macro-economic
review for Oct-Dec quarter a day before its quarterly monetary
policy review. The report serves as a curtain raiser to the
policy. Report due to be published at 1130 GMT. 
    
    OVERNIGHT NEWS
    * India's plan to raise about $2 billion selling a stake in
power producer NTPC Ltd will likely take place on Feb.
7, three sources with direct knowledge of the situation said on
Friday. 
    * The Reserve Bank of India tightened the rules of offering
differential interest rates on large size term deposits and also
said banks can stop large depositors from premature withdrawal
of their money. 
        
    MAJOR DEALS/ACQUISITIONS
    *  India's Coromandel International said it has
signed a definitive agreement to buy a controlling stake in
fertiliser maker Liberty Phosphate Ltd and two of its
affiliates for up to 3.75 billion rupees ($69.84 million) to
strengthen its soil nutrients business. 
    * Tata Communications launched its debut Singapore
dollar-denominated bond on Thursday. The S$250m three-year deal
is the second public issue by an Indian corporate in the
Singapore market but the fifth borrowing from an Indian issuer
so far. (IFR)
    
    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    Jan. 25*                 $109.29 mln#
    Month-to-date**            $3.17 bln 
    Year-to-date**             $3.17 bln         
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on Jan. 24 on
SEBI website.
    #(As per Reuters conversion, $1 = 53.70 rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *  
                              Debt             
    Jan. 23                $70.40 mln
    Month-to-date         $326.06 mln
    Year-to-date          $326.10 mln                    
    * Source: Data as per custodial filing as on Jan. 24 on SEBI
website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                Jan. 24
    Foreign Banks                       22.20 bln
    Public Sector Banks                 -2.01 bln
    Private Sector Banks               -18.11 bln
    Mutual Funds                         4.80 bln 
    Others                              -2.42 bln
    Primary Dealers                     -4.46 bln
    Source: Clearing Corp of India Ltd
          
    MONEY MARKET INFLOWS                         (mln rupees)
Instrument               Payment    Date              Amount 
SDL 07.84%, 2018         Interest   Jan 28            215.34 
(RAJASTHAN) 
SDL 07.85%, 2018         Interest   Jan 28            294.38 
(TAMIL NADU) 
SDL 07.86%, 2018         Interest   Jan 28            179.25 
(PUNJAB) 
SDL 07.87%, 2018         Interest   Jan 28           1042.78 
(3 States) 
SDL 07.89%, 2018         Interest   Jan 28            927.08 
(2 States) 
SDL 07.90%, 2018         Interest   Jan 28             69.92 
(PUDUCHERRY) 
SDL 07.92%, 2018         Interest   Jan 28            198.00 
(ANDHRA PRADESH) 
SDL 07.97%, 2018         Interest   Jan 28             98.03 
(ASSAM) 
SDL 07.98%, 2018         Interest   Jan 28             39.90 
(JAMMU & KASHMIR) 
SDL 08.60%, 2022         Interest   Jan 28            150.50 
(3 States) 
SDL 08.65%, 2022         Interest   Jan 28            540.63 
(KARNATAKA) 
SDL 08.66%, 2022         Interest   Jan 28           1818.60 
(3 States) 
SDL 08.67%, 2022         Interest   Jan 28            108.38 
(PUNJAB) 
SDL 08.70%, 2022         Interest   Jan 28            600.30 
(KERALA) 
SDL 08.71%, 2022         Interest   Jan 28            326.63 
(HARYANA) 
SDL 08.72%, 2022         Interest   Jan 28            558.52 
(BIHAR) 
SDL 08.73%, 2022         Interest   Jan 28            654.75 
(MADHYA PRADESH) 
7.17% FRB 2035           Interest   Jan 28            125.48 
SDL 08.00%, 2017         Interest   Jan 28            400.00 
(2 States) 
SDL 08.04%, 2017         Interest   Jan 28            107.39 
(2 States) 
SDL 8.25%, 2017          Interest   Jan 28             50.33 
(JAMMU & KASHMIR)
For the entire table click on: 
    
    ISSUANCES
Instrument          Amount             Date
T-bills           100 bln rupees     Jan.  30
    
    LIQUIDITY
    * The RBI said on Thursday it accepted all 36 bids for 644
billion rupees at its afternoon four-day repo auction, through
which it injects cash into the banking system. It also accepted
the 7bids for 1.8 billion rupees at its reverse repo auction,
through which it absorbs cash from the system. 
    * Indian banks' refinancing with RBI falls to 203.40 billion
rupees. 
    * Indian banks' cash balances with RBI fall to 2.89 trillion
rupees. 

 (Compiled by Swati Bhat; Editing by Sunil Nair)
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