Indian FX/debt factors to watch - Jan 30

Wed Jan 30, 2013 8:40am IST

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GLOBAL MARKETS ROUNDUP
    * Asian shares inched up on Wednesday, cautiously awaiting
local corporate earnings reports and the U.S. Federal Reserve's
monetary policy decision due later in the session, while taking
comfort from improving global economic prospects. 
    * Euro bulls were battling to break 14-month peaks versus
the dollar on Wednesday and trip option barriers at $1.3500,
while the yen stayed under pressure on the belief that true
reflation in Japan would require a much weaker currency. 
    * U.S. crude oil rose more than 1 percent on Tuesday,
exceeding gains in Brent crude, after strong U.S. housing market
data  bolstered confidence that economic growth and fuel demand
were accelerating. 
    * U.S. Treasury debt prices eased for a fourth day on
Tuesday as investors pushed to undermine prices amid sales of
$99 billion of U.S. government notes this week. 
       
    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 19,990.90 (-0.56)
    * NSE index 6,049.90 (-0.41)
    * Rupee 53.76/77 per dollar (53.91/92)
    * 10-year bond yield 7.85 pct (7.86 pct) 
    * 5-year OIS rate 7.17 pct (7.14 pct) 
    * 1-year OIS rate 7.57 pct (7.56 pct) 
    * Call money 7.95/8.05 pct (8.00/8.10 pct)
    
    FACTORS TO WATCH
    * The Reserve Bank of India will hold its post-policy
tele-conference with economists and analysts after cutting its
key repo rate for the first time in 9 months and also banks'
cash reserve ratio. Call to start at 0900 GMT. 
    
    OVERNIGHT NEWS
    * India's finance minister, Palaniappan Chidambaram, said he
is confident that a $2.6 billion tax dispute with Vodafone
 would be settled, telling the Financial Times that a
third round of talks will be held this week. 
    * Indian finance minister Palaniappan Chidambaram said on
Tuesday he saw no reason why companies that fulfil all central
bank criteria should be denied banking licenses as part of plans
to shake up the country's bank sector. 
           
    MAJOR DEALS/ACQUISITIONS
    * Reliance Industries, India's largest private sector
company, priced its senior perpetual bond non call five Reg
S/144a bond at 5.875 percent. Size was capped at $800 million
even though the order book was in excess of $3 billion, said
bankers close to the deal. (IFR) 
      
    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    Jan. 29*                 $167.25 mln#
    Month-to-date**            $3.64 bln 
    Year-to-date**             $3.64 bln         
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on Jan. 29 on
SEBI website.
    #(As per Reuters conversion, $1 = 53.80 rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *  
                              Debt             
    Jan. 28               $150.48 mln
    Month-to-date         $628.62 mln
    Year-to-date          $628.60 mln                    
    * Source: Data as per custodial filing as on Jan. 29 on SEBI
website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                Jan. 29
    Foreign Banks                       -8.16 bln
    Public Sector Banks                -16.92 bln
    Private Sector Banks                33.87 bln
    Mutual Funds                       -20.57 bln 
    Others                              -6.31 bln
    Primary Dealers                     18.10 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
Dated bonds       120 bln rupees       Feb. 1
    
    LIQUIDITY
    * The RBI said on Tuesday it accepted all 31 bids for 913.10
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 203.84 billion
rupees. 
    * Indian banks' cash balances with RBI rise to 3.11 trillion
rupees. 

 (Compiled by Swati Bhat)
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