Indian FX/debt factors to watch - Feb 8

Fri Feb 8, 2013 8:04am IST

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GLOBAL MARKETS ROUNDUP
    * Asian shares were capped on Friday after European Central
Bank President Mario Draghi noted risks still facing the euro
zone economy, turning investor sentiment more cautious ahead of
Chinese trade data for January due out during the session.
 
    * The euro hovered near two-week low on Friday after the
European Central Bank chief said on Thursday he would monitor
the impact of the currency's strength, making more
straightforward remarks on the exchange rate than many had
expected. 
    * Brent crude oil rose to a near five-month high above $117
a barrel on Thursday after Iran rejected calls for direct talks
with the United States, while U.S. crude prices fell amid
pressure from growing domestic stockpiles in the Midwest. 
    * Prices for U.S. Treasuries rose on Thursday as investors
bought safe-haven U.S. debt after the head of the European
Central Bank noted the risks facing the euro zone economy,
cooling investors' fervor for riskier assets. 
       
    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 19,580.32 (-0.3 pct)
    * NSE index 5,938.80 (-0.34 pct)
    * Rupee 53.22/23 per dollar (53.155/165)
    * 10-year bond yield 7.88 pct (7.91 pct) 
    * 5-year OIS rate 7.25 pct (7.28 pct) 
    * 1-year OIS rate 7.62 pct (7.64 pct) 
    * Call money 7.45/7.55 pct (7.90/8.0 pct)
    
    FACTORS TO WATCH
    * RBI to auction 120 billion rupees of government bonds.
    * RBI deputy governor Anand Sinha at event (0530GMT).
    * RBI to release forex reserves, bank lending data.
(1130GMT)
    
    OVERNIGHT NEWS
    *  The worst is probably over for flagging Indian factories
but production was likely subdued in December as global demand
remained weak, a Reuters poll showed. 

    MAJOR DEALS/ACQUISITIONS
    * India has raised $2.15 billion by selling shares in
state-run power utility NTPC, putting the government
on track to meet its fundraising target to reduce the budget
deficit. 
    * Europe's Airbus wants to sell its C295 transport
aircraft to India, an Airbus Military executive said on
Thursday, adding that the company was awaiting a request for
proposals from the government. 
    * A chunky 149.77 billion rupees ($2.8 billion) project
finance loan for ONGC Petro-additions (Opal) has been tied up.
Sponsors for Opal are Oil and Natural Gas Corp, Gujarat State
Petroleum Corp and Gas Authority of India. (IFR)
    * ANZ has won the mandate for Indian Oil Corp's $120 million
five-year loan. As previously reported, Mizuho Corporate Bank,
State Bank of India and Sumitomo Mitsui Banking Corp also
submitted sole bids for the deal last week. Price talk is at
less than 200bp all-in, according to sources. (IFR)

    USD/INR NDFs (NY closing prices)    
    * For up-to-date prices, double click   
      Close      Open      High     Low      Volume   
    53.80-85    53.53      53.72    53.50     High
     
    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    Feb. 7*                  $155.20 mln#
    Month-to-date**            $2.04 bln 
    Year-to-date**             $6.10 bln         
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on Feb. 7 on SEBI
website.
    #(As per Reuters conversion, $1 = 53.285 rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *  
                              Debt             
    Feb. 6                 $14.90 mln
    Month-to-date         $241.92 mln
    Year-to-date          $793.00 mln                    
    * Source: Data as per custodial filing as on Feb. 7 on SEBI
website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                Feb. 7
    Foreign Banks                       15.49 bln
    Public Sector Banks                -31.50 bln
    Private Sector Banks                12.07 bln
    Mutual Funds                         5.05 bln 
    Others                              -4.89 bln
    Primary Dealers                      3.78 bln
    Source: Clearing Corp of India Ltd
    
    MONEY MARKET INFLOWS                         (mln rupees) 
Instrument               Payment    Date              Amount  
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 Thursday it accepted all 41 bids for 1.17
trillion rupees at its one-day repo auction, through which it
injects cash into the banking system. It received four bids for
32.10 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; Editing by Jijo Jacob)
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