Indian FX/debt factors to watch - Feb 13

Wed Feb 13, 2013 8:33am IST

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GLOBAL MARKETS ROUNDUP
    * Asian shares inched higher on Wednesday while the yen was
firmer amid conflicting interpretations of G7 comments about the
yen's recent weakness. 
    * The yen held firm on Wednesday, having swung higher in
dramatic style as investors cut bearish positions after an
official from the Group of Seven said there were concerns about
excessive movements in Japan's currency. 
    * Oil prices rose on Tuesday after the U.S. Energy
Information Administration (EIA) said world oil demand would
increase faster than previously expected in 2013 and OPEC raised
its outlook for the amount of crude it will need to pump this
year. 
    * U.S. Treasuries prices slipped on Tuesday as investors
looked ahead to retail sales data to shed light on consumer
habits after a lacklustre debt sale, the first for a total of
$72 billion in supply this week. 
       
    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 19,561.04 (+0.52 pct)
    * NSE index 5,922.50 (+0.42 pct)
    * Rupee 53.85/86 per dollar (53.8450/8550)
    * 10-year bond yield 7.87 pct (7.86 pct) 
    * 5-year OIS rate 7.27 pct (7.26 pct) 
    * 1-year OIS rate 7.64 pct (7.63 pct) 
    * Call money 7.75/7.85 pct (7.80/7.85 pct)
    
    FACTORS TO WATCH
    * India is due to release the country's merchandise trade
data for January around 11:15 a.m. 
    * India's commerce and industry minister will deliver the
key-note address at an information technology seminar at 0400
GMT.
      
    OVERNIGHT NEWS
    * India's central bank will buy up to 100 billion rupees
($1.9 billion) of bonds on Feb. 15 through open market
operations using the multiple price method. 
    
    MAJOR DEALS/ACQUISITIONS
    * India's HPCL plans to raise up to $500 million
through external commercial borrowings by March to fund its
various projects, its executive director for finance said.
 
      
    USD/INR NDFs (NY closing prices)    
    * For up-to-date prices, double click   
      Close      Open      High     Low      Volume   
    54.04-07    54.16     54.37    54.04      High
     
    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    Feb. 12*                 $112.09 mln#
    Month-to-date**            $3.70 bln 
    Year-to-date**             $7.76 bln         
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on Feb. 12 on
SEBI website.
    #(As per Reuters conversion, $1 = 53.90 rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *  
                              Debt             
    Feb. 11                $71.36 mln
    Month-to-date          $24.65 mln
    Year-to-date          $575.70 mln                    
    * Source: Data as per custodial filing as on Feb. 12 on SEBI
website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                Feb. 12
    Foreign Banks                      -20.96 bln
    Public Sector Banks                 18.93 bln
    Private Sector Banks                -5.68 bln
    Mutual Funds                         7.70 bln 
    Others                               3.67 bln
    Primary Dealers                     -3.66 bln
    Source: Clearing Corp of India Ltd
   
    MONEY MARKET INFLOWS                         (mln rupees) 
Instrument               Payment    Date              Amount  
SDL 06.00%, 2013         Interest   Feb 14            150.00 
(2 States) 
SDL 06.02%, 2013         Interest   Feb 14             75.25 
(KERALA) 
SDL 06.03%, 2013         Interest   Feb 14            150.75 
(ANDHRA PRADESH) 
8.20% 2022               Interest   Feb 15          23629.26 
8.24% 2027               Interest   Feb 15          23644.08 
8.28% 2032               Interest   Feb 15          32576.46 
91 days T-Bill           Redemption Feb 15         112228.80 
182 days T-Bill          Redemption Feb 15          50000.00 
For full table: 

    ISSUANCES
Instrument          Amount              Date
Tbills            100 bln rupees      Feb. 13  
Dated bonds       120 bln rupees      Feb. 15    
    
    LIQUIDITY
    * The RBI said on Tuesday it accepted all 38 bids for 1.24
trillion rupees at its one-day repo auction, through which it
injects cash into the banking system. It also accepted the sole
bid for 150 million rupees at its reverse repo auction, through
which it absorbs cash from the system. 
    * Indian banks' refinancing with RBI rises to 205.93 billion
rupees. 
    * Indian banks' cash balances with RBI fall to 2.84 trillion
rupees. 

 (Compiled by Swati Bhat)
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