Indian FX/debt factors to watch - Jan 29

Tue Jan 29, 2013 8:40am IST

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A statue of Ganesh, the deity of prosperity, is carried in a taxi to a place of worship on the first day of the ten-day-long Ganesh Chaturthi festival in Mumbai August 29, 2014. REUTERS/Danish Siddiqui

Ganesh Chaturthi Festival

During Ganesh Chaturthi idols will be taken through the streets in a procession accompanied by dancing and singing, and will be immersed in a river or the sea in accordance with Hindu faith.  Slideshow 

GLOBAL MARKETS ROUNDUP
    *  Asian shares rose on Tuesday after solid U.S. data, but 
investors remained cautious ahead of more U.S. economic reports 
and a Federal Reserve policy decision later in the week that may
offer clues to the Fed's stimulus plans. 
    * Sterling took the spotlight on Tuesday, though for all the
wrong reasons, as a dour economic background and persistent
rumours of a possible credit downgrade dragged the British
currency to a 13-month trough on the euro and a five-month low
on the dollar. 
    * Oil prices rose on Monday, led by a 2 percent gain in U.S.
gasoline following news that Hess Corp will close a New
Jersey refinery, tightening supplies in the giant Northeast
gasoline market. 
    * U.S. Treasury yields rose for a third session on Monday
after a gauge of planned U.S. business spending rose in
December, fuelling some expectations economic growth may be
picking up enough that the Federal Reserve may mull pulling back
on economic stimulus. 
       
    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 20,103.35 (flat)
    * NSE index 6,074.80 (flat)
    * Rupee 53.91/92 per dollar (53.68/69)
    * 10-year bond yield 7.86 pct (7.88 pct) 
    * 5-year OIS rate 7.14 pct (7.14 pct) 
    * 1-year OIS rate 7.56 pct (7.56 pct) 
    * Call money 8.00/8.10 pct (8.00/8.05 pct)
    
    FACTORS TO WATCH
    * The Reserve Bank of India will release its third-quarter
review of the monetary policy at 0530 GMT. 
    
    OVERNIGHT NEWS
    * Indian private sector lender Axis Bank Ltd is
selling shares to raise as much as $1 billion, two sources with
direct knowledge of the matter said on Monday, in the biggest
equity deal in more than a month in Asia's third-largest
economy. 
    * India's central bank said a sustained commitment to
contain the fiscal and current account deficits was needed to
create room for monetary easing, a day before a policy review
that is widely expected to deliver the first interest rate cut
in nine months. 
           
    MAJOR DEALS/ACQUISITIONS
    * Reliance Industries continues with its self-appointed
mandate to innovate the capital markets for Indian issuers as it
announced on Monday the first ever senior dollar perpetual note
by a company from the subcontinent. (IFR)
    * SREI Equipment Finance is exploring the option to raise
funds in the Singapore dollar markets. ANZ, DBS and HSBC are
arranging a roadshow for the company on Jan. 30. (IFR)
      
    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    Jan. 28*                 $145.37 mln#
    Month-to-date**            $3.49 bln 
    Year-to-date**             $3.49 bln         
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on Jan. 28 on
SEBI website.
    #(As per Reuters conversion, $1 = 53.90 rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *  
                              Debt             
    Jan. 25               $152.08 mln
    Month-to-date         $478.14 mln
    Year-to-date          $478.10 mln                    
    * Source: Data as per custodial filing as on Jan. 28 on SEBI
website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                Jan. 28
    Foreign Banks                       11.16 bln
    Public Sector Banks                -21.00 bln
    Private Sector Banks                15.97 bln
    Mutual Funds                        -4.80 bln 
    Others                               1.12 bln
    Primary Dealers                     -2.45 bln
    Source: Clearing Corp of India Ltd
          
    MONEY MARKET INFLOWS                         (mln rupees)
Instrument               Payment    Date              Amount 
SDL 06.20%, 2013         Interest   Jan 30           2476.60 
(28 States) 
SDL 06.35%, 2013         Interest   Jan 30           1987.01 
(19 States) 
SDL 07.76%, 2019         Interest   Jan 30            388.00 
(KARNATAKA) 
SDL 07.77%, 2019         Interest   Jan 30            388.50 
(2 States) 
For the entire table click on: 
    
    ISSUANCES
Instrument          Amount               Date
T-bills           100 bln rupees       Jan.  30
    
    LIQUIDITY
    * The RBI said on Monday it accepted all 36 bids for 1.10
trillion rupees at its one-day repo auction, through which it
injects cash into the banking system. It also accepted the sole
bid for 150 million rupees at its reverse repo auction, through
which it absorbs cash from the system. 
    * Indian banks' refinancing with RBI falls to 202.79 billion
rupees. 
    * Indian banks' cash balances with RBI fall to 2.85 trillion
rupees. 

 (Compiled by Swati Bhat; Editing by Jijo Jacob)
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