Indian FX/debt factors to watch - Jan 31

Thu Jan 31, 2013 8:29am IST

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GLOBAL MARKETS ROUNDUP
    * Asian shares pulled back from recent rallies on Thursday
but optimism about global growth supported sentiment as the
Federal Reserve kept its stimulus policy, while the euro
steadied on signs the region was stabilising from the debt
crisis. 
    * The euro held near a 14-month peak against the dollar and
a 2-1/2 year high versus the yen on Thursday, having risen
solidly as investors expect central banks in both the United
States and Japan to keep an aggressive easing stance. 
    * Brent crude touched a three-month high on Wednesday after
better-than-expected economic data out of Europe spurred
optimism about the global economy before oil pared gains with
surprisingly weak U.S. growth numbers. 
    * U.S. Treasury debt prices traded little changed on
Wednesday after the Federal Reserve said economic growth will
proceed at a moderate pace and unemployment will gradually
decline under appropriate monetary policy. 
       
    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 20,005.00 (+0.07)
    * NSE index 6,055.75 (+0.10)
    * Rupee 53.30/31 per dollar (53.76/77)
    * 10-year bond yield 7.89 pct (7.85 pct) 
    * 5-year OIS rate 7.25 pct (7.17 pct) 
    * 1-year OIS rate 7.62 pct (7.57 pct) 
    * Call money 7.75/7.85 pct (7.95/8.05 pct)
    
    FACTORS TO WATCH
    * India will release fiscal deficit figures for
April-December period around 3.00 IST (10.30 GMT).
    * India is likely to release the infrastructure output data
for December on Thursday or Friday for which no date or timing
is fixed. The data is usually released on the last working day.
    * Parthasarathi Shome, who headed a panel to suggest
recommendations in controversial tax issues and is currently an
advisor to Finance Minister P Chidambaram, will be at an
industry event in New Delhi on Thursday. Events starts at 0730
GMT.
    
    OVERNIGHT NEWS
    * India's government does not currently plan additional
taxes or curbs on imports of gold as it waits to see the impact
of recent tax hikes, a top finance ministry official told
Reuters on Wednesday. 
             
    MAJOR DEALS/ACQUISITIONS
    * State-owned NHPC will open its three-tranche issue of up
to INR15bn (USD280m) today at 10am India time for bidding. The
company has invited 16 arrangers to bid for the sale which will
close at 3pm India time on January 31. 
    * Indian conglomerate Reliance Industries (Baa2/BBB) last
night printed the first US dollar senior perpetual bond out of
India and at a yield of 5.875 percent also achieved the lowest
coupon for a rated US dollar perp in Asia to date. (IFR)
    
    USD/INR NDFs (NY closing prices)    
    * For up-to-date prices, double click   
      Close      Open      High     Low      Volume   
    53.43-49    53.60     53.64    53.45      High
     
    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    Jan. 30*                 $170.05 mln#
    Month-to-date**            $3.83 bln 
    Year-to-date**             $3.83 bln         
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on Jan. 30 on
SEBI website.
    #(As per Reuters conversion, $1 = 53.30 rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *  
                              Debt             
    Jan. 29               -$19.56 mln
    Month-to-date         $609.06 mln
    Year-to-date          $609.10 mln                    
    * Source: Data as per custodial filing as on Jan. 30 on SEBI
website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                Jan. 30
    Foreign Banks                      -24.89 bln
    Public Sector Banks                 26.25 bln
    Private Sector Banks               -16.94 bln
    Mutual Funds                         5.44 bln 
    Others                               4.84 bln
    Primary Dealers                      5.40 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
Dated bonds       120 bln rupees       Feb. 1
    
    LIQUIDITY
    * The RBI said on Wednesday it accepted all 42 bids for 1.04
trillion rupees at its one-day repo auction, through which it
injects cash into the banking system. It said it did not get any
bids at its reverse repo auction, through which it absorbs cash
from the system. 
    * Indian banks' refinancing with RBI rises to 207.97 billion
rupees. 
    * Indian banks' cash balances with RBI rise to 3.12 trillion
rupees. 

 (Compiled by Swati Bhat)
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