Indian FX/debt factors to watch - Feb 11

Mon Feb 11, 2013 8:40am IST

Related Topics

GLOBAL MARKETS ROUNDUP
    * Oil and equities dawdled on Monday near multi-month highs
scaled after robust Chinese trade data last week, while the euro
slipped to a two-week low as uncertainty surrounded a political
scandal in Spain and a looming election in Italy. 
    * The euro dipped to a two-week low in Asia on Monday,
continuing to pull back from 15-month highs following what
markets perceived as slightly dovish comments from the European
Central Bank and political uncertainty in Italy and Spain. 
    * Brent oil futures hit a nine-month high near $119 a barrel
on Friday after data showed strong growth in Chinese oil
imports, rounding out four straight weeks of gains for the
contract and taking its premium over U.S. crude to more than
$23. 
    * U.S. Treasuries ended near flat on Friday after dipping
during the session when stocks resumed their climb and traders
got ready for $72 billion in new government debt supply next
week. 
       
    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 19,484.77 (-0.49 pct)
    * NSE index 5,903.50 (-0.59 pct)
    * Rupee 53.50/51 per dollar (53.22/23)
    * 10-year bond yield 7.84 pct (7.88 pct) 
    * 5-year OIS rate 7.23 pct (7.25 pct) 
    * 1-year OIS rate 7.60 pct (7.62 pct) 
    * Call money 7.80/7.85 pct (7.45/7.55 pct)
    
    FACTORS TO WATCH
    * India is due to release the country's merchandise trade
data for January at 0630 GMT. 
    * India's central bank Governor Duvvuri Subbarao will confer
degrees to students at a convocation ceremony of the central
bank sponsored Indira Gandhi Institute of Development Research
at 0530 GMT.
    
    OVERNIGHT NEWS
    * India's economy will grow by 5.5 percent this fiscal year
and 6-7 percent in the next fiscal year, as Asia's third-largest
economy shows signs of reviving, Finance Minister P. Chidambaram
said on Saturday. 
    * India plans to cut its fertiliser subsidy bill by at least
15 percent for the fiscal year 2013-14, four sources told
Reuters, a move that takes advantage of a fall in international
prices to help narrow the country's fiscal deficit.
 

    MAJOR DEALS/ACQUISITIONS
    * India's Sun Pharmaceutical Industries Ltd, which
has been on a buying spree, ended its agreement to gain full
control over its Israeli unit Taro Pharmaceutical Industries Ltd
. 
    
    USD/INR NDFs (NY closing prices)    
    * For up-to-date prices, double click   
      Close      Open      High     Low      Volume   
    54.00-03    53.90      54.05    53.85     High
     
    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    Feb. 8*                  $278.66 mln#
    Month-to-date**            $3.23 bln 
    Year-to-date**             $7.29 bln         
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on Feb. 8 on SEBI
website.
    #(As per Reuters conversion, $1 = 53.50 rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *  
                              Debt             
    Feb. 7                 -$8.04 mln
    Month-to-date         $233.88 mln
    Year-to-date          $784.90 mln                    
    * Source: Data as per custodial filing as on Feb. 8 on SEBI
website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                Feb. 8
    Foreign Banks                        9.57 bln
    Public Sector Banks                -34.98 bln
    Private Sector Banks                20.62 bln
    Mutual Funds                        17.39 bln 
    Others                               4.18 bln
    Primary Dealers                    -16.78 bln
    Source: Clearing Corp of India Ltd
    
    MONEY MARKET INFLOWS                         (mln rupees) 
Instrument               Payment    Date              Amount  
SDL 08.51%, 2021         Interest   Feb 11            212.75 
(PUNJAB) 
SDL 08.52%, 2021         Interest   Feb 11            213.00 
(JHARKHAND) 
SDL 08.53%, 2021         Interest   Feb 11            426.50 
(GUJARAT) 
SDL 08.55%, 2021         Interest   Feb 11            427.50 
(WEST BENGAL) 
SDL 08.56%, 2021         Interest   Feb 11           1498.00 
(2 States) 
SDL 08.58%, 2021         Interest   Feb 11            429.00 
(UTTAR PRADESH) 
8.51% FRB 2015           Interest   Feb 11           2553.00 
7.50% 2034               Interest   Feb 11          22500.00 
10.47% 2015              Interest   Feb 12           3366.11
For full table: 

    ISSUANCES
Instrument          Amount              Date
Tbills            100  bln rupees      Feb. 13  
    
    LIQUIDITY
    * The RBI said on Friday it accepted all 65 bids for a
combined total of 1.08 trillion rupees at its twin three-day
repo auctions, through which it injects cash into the banking
system. It also accepted all 5 bids for 10.95 billion rupees at
its reverse repo auction, through which it absorbs cash from the
system. 
    * Indian banks' refinancing with RBI falls to 191.07 billion
rupees. 
    * Indian banks' cash balances with RBI fall to 2.70 trillion
rupees. 

 (Compiled by Swati Bhat)
FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Press Event

Press Event

Modi takes tea, but no questions, in first press event as PM.  Full Article 

School Shooting

School Shooting

Two killed, four wounded in Washington state school shooting.  Full Article 

Sundar Pichai Elevated

Sundar Pichai Elevated

Google's Pichai to oversee major products and services.  Full Article 

Need For Reforms

Need For Reforms

Euro zone risks "relapse into recession" without structural reforms - Draghi.  Full Article 

Diwali Sales

Diwali Sales

Gold sales jump about 20 pct for Diwali - trade body  Full Article 

World Bank Rival

World Bank Rival

Three major nations absent as China launches W.Bank rival in Asia  Full Article 

Wal-Mart India

Wal-Mart India

Murali Lanka appointed as Wal-Mart India operations chief  Full Article 

Health Of Lenders

Health Of Lenders

25 European banks set to fail health checks - sources.  Full Article 

India Insight

India Insight

Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw”  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage