Indian FX/debt factors to watch - Feb 7

Thu Feb 7, 2013 8:15am IST

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GLOBAL MARKETS ROUNDUP
    * Asian shares and the euro paused on Thursday, marking time
ahead of a European Central Bank policy decision and remarks
from ECB President Mario Draghi on prospects for the euro zone
economy. 
    * The euro drifted lower on Thursday, while sterling
wallowed at multi-month lows as cautious investors waited for
the outcomes of central bank policy meetings in Europe and
Britain. 
    * Brent crude oil futures posted a modest rise on Wednesday
on economic optimism, while U.S. crude prices slipped after data
showed an unexpected rise in U.S. crude oil inventories. 
    * U.S. Treasuries prices rose on Wednesday as weaker U.S.
and European stock prices and political tension in the euro zone
boosted demand for safe-haven government debt. 
       
    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 19,639.72 (-0.10 pct)
    * NSE index 5,959.20 (0.04 pct)
    * Rupee 53.155/165 per dollar (53.135/145)
    * 10-year bond yield 7.91 pct (7.92 pct) 
    * 5-year OIS rate 7.28 pct (7.27 pct) 
    * 1-year OIS rate 7.64 pct (7.63 pct) 
    * Call money 7.90/8.00 pct (7.75/7.80 pct)
    
    FACTORS TO WATCH

    * India to release advance GDP estimates for 2012/13.
(0530GMT)
    * RBI Governor to address press after cbank board meet.
(0715GMT)
    * India's government's share sale in NTPC.
    
    OVERNIGHT NEWS
    * Southeast Asian central banks are in talks to overhaul the
way reference rates for offshore currency derivatives are set
following investigations by banks in Singapore that found
traders in the city-state tried to manipulate the market, the
president of Indonesia's foreign exchange industry group said. 
 
    * The United States said it had sanctioned Iran's main
agency in charge of broadcasting for helping the government
censor Western reports, part of a broader effort by Washington
to pressure Tehran's nuclear program.  
    * India's central bank could limit gold imports by banks in
"extreme circumstances," it said on Wednesday, as it put forward
measures to help the world's biggest consumer of gold rein in
purchases and battle a record-high current account deficit.
 

    MAJOR DEALS/ACQUISITIONS
    * Numaligarh Refinery (NRL), a unit of a leading Indian
state-owned oil refiner, has sent out requests for proposals for
a $90m project financing, sources said. Proceeds will fund the
setting up of a wax plant at Numaligarh in the North-Eastern
Indian state of Assam. (IFR)

    USD/INR NDFs (NY closing prices)    
    * For up-to-date prices, double click   
      Close      Open      High     Low      Volume   
    53.27-33    53.45      53.50    53.28     High
     
    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    Feb. 6*                  $213.79 mln#
    Month-to-date**            $1.79 bln 
    Year-to-date**             $5.85 bln         
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on Feb. 6 on SEBI
website.
    #(As per Reuters conversion, $1 = 53.23 rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *  
                              Debt             
    Feb. 5                 $12.36 mln
    Month-to-date         $227.02 mln
    Year-to-date          $778.10 mln                    
    * Source: Data as per custodial filing as on Feb. 6 on SEBI
website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                Feb. 6
    Foreign Banks                       12.61 bln
    Public Sector Banks                -15.98 bln
    Private Sector Banks                10.17 bln
    Mutual Funds                        -6.60 bln 
    Others                              -0.98 bln
    Primary Dealers                      0.78 bln
    Source: Clearing Corp of India Ltd
    
    MONEY MARKET INFLOWS                         (mln rupees) 
Instrument               Payment    Date              Amount  
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
Bond Sale         120   bln rupees      Feb. 8       
    LIQUIDITY
    * The RBI said on Wednesday it accepted all 24 bids for
576.15 billion rupees at its one-day repo auction, through which
it injects cash into the banking system. It received two bids
for 15 billion rupees at its reverse repo auction, through which
it absorbs cash from the system. 
    * Indian banks' refinancing with RBI falls to 135.61 billion
rupees. 
    * Indian banks' cash balances with RBI rise to 3.26 trillion
rupees. 

 (Compiled by Subhadip Sircar)
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