Indian FX/debt factors to watch - Feb 6

Wed Feb 6, 2013 8:25am IST

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GLOBAL MARKETS ROUNDUP
    *  Asian shares recovered on Wednesday as solid euro zone
data calmed nerves jarred by potential political turmoil
derailing the region's efforts to resolve its debt crisis, while
the prospect of a dovish new governor for the Bank of Japan
weakened the yen. 
    * The yen resumed its decline on Wednesday as investors
piled back into the easy one-way trade as the market bet that a
more dovish Bank of Japan governor will soon be installed to
push through aggressive easing measures. 
    * Brent crude rose on Tuesday, hitting a 20-week high as
positive economic data and strong corporate earnings reports
lifted Wall Street stocks and other financial markets.  
    * U.S. Treasuries prices fell on Tuesday as a rebound in
Wall Street stocks and data on European business activity that
indicated improvement in the region's economy cut the appetite
for safe-haven government debt, pushing benchmark yields back
above 2 percent. 
       
    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 19,659.82 (-0.46 pct)
    * NSE index 5,956.90 (-0.51 pct)
    * Rupee 53.14/15 per dollar (53.285/295)
    * 10-year bond yield 7.92 pct (7.94 pct) 
    * 5-year OIS rate 7.27 pct (7.29 pct) 
    * 1-year OIS rate 7.63 pct (7.64 pct) 
    * Call money 7.75/7.80 pct (7.75/7.85 pct)
    
    FACTORS TO WATCH
    * India Money Supply data (0930GMT)
    * India Finance Minister at event. (1200GMT)
    * India central bank officials in Guwahati for board meet.
    
    OVERNIGHT NEWS
    *  Housing Development Finance Corporation (HDFC),
India's biggest housing finance company, will reduce its prime
lending rate by 10 basis points starting Feb. 6, it said on
Tuesday. 
    

    MAJOR DEALS/ACQUISITIONS
    * The Indian government expects to raise around 120 billion
rupees ($2.25 billion) by selling a 9.5 percent stake in state
power utility NTPC Ltd in a share auction on Feb. 7,
Disinvestment Secretary Ravi Mathur said. 
   * GlaxoSmithKline Plc has lifted its stake in its
publicly-listed Indian consumer healthcare subsidiary to 72.5
percent from 43.2 percent, deepening its footprint in emerging
markets and non-prescription products. 
 
    USD/INR NDFs (NY closing prices)    
    * For up-to-date prices, double click   
      Close      Open      High     Low      Volume   
    53.22-27    53.43      53.43    53.28     High
     
    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    Feb. 5*                   $92.05 mln#
    Month-to-date**          $844.28 mln 
    Year-to-date**             $4.90 bln         
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on Feb. 5 on SEBI
website.
    #(As per Reuters conversion, $1 = 53.1250 rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *  
                              Debt             
    Feb. 4                -$68.47 mln
    Month-to-date         $214.66 mln
    Year-to-date          $765.70 mln                    
    * Source: Data as per custodial filing as on Feb. 5 on SEBI
website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                Feb. 5
    Foreign Banks                       -3.90 bln
    Public Sector Banks                 -4.09 bln
    Private Sector Banks                10.17 bln
    Mutual Funds                        -7.65 bln 
    Others                              -2.48 bln
    Primary Dealers                      7.95 bln
    Source: Clearing Corp of India Ltd
    
    MONEY MARKET INFLOWS                         (mln rupees) 
Instrument               Payment    Date              Amount  
SDL 07.24%, 2019         Interest   Feb 06            236.74 
(3 States) 
SDL 07.26%, 2019         Interest   Feb 06            435.60 
(TAMIL NADU) 
SDL 07.27%, 2019         Interest   Feb 06            834.23 
(2 States) 
SDL 07.29%, 2019         Interest   Feb 06            364.50 
(RAJASTHAN) 
11.43% 2015              Interest   Feb 07           6858.00 
SDL 08.67%, 2017         Interest   Feb 08            216.75 
(KARNATAKA) 
SDL 08.68%, 2022         Interest   Feb 08            108.50 
(PUNJAB) 
SDL 08.69%, 2022         Interest   Feb 08           1520.75 
(3 States) 
SDL 08.71%, 2022         Interest   Feb 08           1088.75 
(2 States) 
SDL 08.73%, 2022         Interest   Feb 08             69.84 
(HIMACHAL PRADESH) 
SDL 08.90%, 2022         Interest   Feb 08            333.75 
(ANDHRA PRADESH) 
SDL 08.91%, 2022          Interest   Feb 08            333.75 
(ANDHRA PRADESH) 
SDL 08.91%, 2022         Interest   Feb 08            245.03 
(HARYANA) 
SDL 08.92%, 2022         Interest   Feb 08           2809.80 
(6 States) 
SDL 08.93%, 2022         Interest   Feb 08            580.45 
(2 States) 
SDL 08.97%, 2022         Interest   Feb 08            112.13 
(NAGALAND) 
91 days T-Bill           Redemption Feb 08         100000.00 
364 days T-Bill          Redemption Feb 08          40000.00
10.03% 2019              Interest   Feb 09           3009.00 
For full table: 

  ISSUANCES
Instrument          Amount              Date
T-Bills           100   bln rupees      Feb. 6     
Bond Sale         120   bln rupees      Feb. 8       
    LIQUIDITY
    * The RBI said on Tuesday it accepted all 31 bids for 583.20
trillion rupees at its one-day repo auction, through which it
injects cash into the banking system. It said it did not receive
any bids at its reverse repo auction, through which it absorbs
cash from the system. 
    * Indian banks' refinancing with RBI rises to 180.61 billion
rupees. 
    * Indian banks' cash balances with RBI rise to 3.20 trillion
rupees. 

 (Compiled by Subhadip Sircar)
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