Indian FX/debt factors to watch - Feb 25

Mon Feb 25, 2013 8:36am IST

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GLOBAL MARKETS ROUNDUP
    * Asian shares edged higher on Monday, with investors still
picking up shares battered by last week's steep plunge, while
the yen fell to fresh lows on news a reflationary advocate could
head the Bank of Japan next month. 
    * The yen skidded to a 33-month low on Monday on reports
that an advocate of aggressive monetary easing could soon head
the Bank of Japan, while sterling was broadly lower following
Moody's downgrade of Britain's prized triple-A sovereign rating.
 
    * Oil prices rose on Friday as German business sentiment
improved, but crude futures still fell by the largest weekly
margin of 2013 after a sell-off in commodities markets earlier
this week. 
    * U.S. Treasuries prices edged higher on Friday in the
absence of key U.S. economic data, as investors prepared for
testimony next week from Federal Reserve Chairman Ben Bernanke,
which will be scoured for clues of when the central bank may
slow or stop buying bonds. 
       
    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 19,317.01 (-0.04 pct)
    * NSE index 5,850.30 (-0.03 pct)
    * Rupee 54.1750/1850 per dollar (54.47/48)
    * 10-year bond yield 7.80 pct (7.81 pct) 
    * 5-year OIS rate 7.22 pct (7.24 pct) 
    * 1-year OIS rate 7.61 pct (7.62 pct) 
    * Call money 7.75/7.80 pct (7.90/8.00 pct)
                               
    OVERNIGHT NEWS
    * India's central bank governor Duvvuri Subbarao endorsed
the unanimous recommendation of all external members of the bank
to cut its policy interest rate last month - the first cut in 9
months - minutes of the quarterly meeting released on Saturday
showed. 
    * Indian companies from any business sector will be allowed
to seek entry to the country's the banking industry as the
government looks to bring banking services to the large
proportion of the population without bank accounts.
 
    
    MAJOR DEALS/ACQUISITIONS
    * India's Bharti Airtel Ltd is planning to meet
global investors for what could potentially be its debut dollar
bond sale nearly two years after failing to pull the trigger on
a similar exercise. 
    * NTPC, India's largest power producer, is
planning to raise 3 billion rupees ($55.05 million) via 10-year
bonds, according to a termsheet seen by Reuters. 
    * 
    
    USD/INR NDFs (NY closing prices)    
    * For up-to-date prices, double click   
      Close      Open      High     Low      Volume   
    54.56-59    54.60      54.67    54.55     High
     
    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    Feb. 22*                  $51.72 mln#
    Month-to-date**            $4.32 bln 
    Year-to-date**             $8.37 bln         
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on Feb. 22 on
SEBI website.
    #(As per Reuters conversion, $1 = 54.20 rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *  
                              Debt             
    Feb. 21               $198.43 mln
    Month-to-date         $414.88 mln
    Year-to-date          $965.90 mln                    
    * Source: Data as per custodial filing as on Feb. 22 on SEBI
website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                Feb. 22
    Foreign Banks                       18.62 bln
    Public Sector Banks                -14.81 bln
    Private Sector Banks                11.22 bln
    Mutual Funds                       -14.98 bln 
    Others                              -1.29 bln
    Primary Dealers                      1.24 bln
    Source: Clearing Corp of India Ltd
   
    MONEY MARKET INFLOWS                         (mln rupees) 
Instrument               Payment    Date              Amount  
SDL 06.20%, 2015         Interest   Feb 25           2479.54 
(28 States) 
SDL 07.10%, 2014         Interest   Feb 25             95.85 
(TAMIL NADU) 
SDL 07.15%, 2014         Interest   Feb 25             92.59 
(WEST BENGAL) 
SDL 07.17%, 2017         Interest   Feb 25           1086.69 
(16 States) 
SDL 07.25%, 2014         Interest   Feb 25            128.93 
(KERALA) 
SDL 08.12%, 2018         Interest   Feb 25            423.23 
(2 States) 
SDL 08.14%, 2018         Interest   Feb 25            407.00 
(GUJARAT) 
SDL 08.25%, 2018         Interest   Feb 25            806.92 
(3 States) 
SDL 08.42%, 2020         Interest   Feb 25           1171.79 
(3 States) 
SDL 08.44%, 2020         Interest   Feb 25            422.00 
(2 States) 
SDL 08.48%, 2018         Interest   Feb 25            413.82 
(JAMMU & KASHMIR) 
SDL 08.48%, 2020         Interest   Feb 25            848.00 
(2 States) 
SDL 08.49%, 2020         Interest   Feb 25            187.74 
(3 States) 
SDL 08.53%, 2020         Interest   Feb 25            404.00 
(ASSAM) 
SDL 08.58%, 2020         Interest   Feb 25            232.96 
(JAMMU & KASHMIR) 
SDL 08.59%, 2021         Interest   Feb 25            751.63 
(3 States) 
SDL 08.60%, 2021         Interest   Feb 25           1075.00 
(2 States) 
SDL 08.61%, 2021         Interest   Feb 25            473.55 
(2 States) 
SDL 06.95%, 2013         Redemption Feb 25          86880.88 
(27 States) 
6.72% 2014               Interest   Feb 25           5131.93 
SDL 08.19%, 2019         Interest   Feb 26            819.00 
(ANDHRA PRADESH) 
SDL 08.20%, 2019         Interest   Feb 26            410.00 
(2 States) 
SDL 08.21%, 2019         Interest   Feb 26            697.85 
(GUJARAT) 
SDL 08.24%, 2019         Interest   Feb 26             82.40 
(GOA) 
SDL 09.30%, 2018         Interest   Feb 27            930.00 
(2 States) 
SDL 09.44%, 2018         Interest   Feb 27             11.61 
For full table: 
  
    LIQUIDITY
    * The RBI said on Friday it accepted all 37 bids for 742.20
billion rupees at its evening three-day repo auction, through
which it injects cash into the banking system. It also accepted
all 6 bids for 3.65 billion rupees at its reverse repo auction,
through which it absorbs cash from the system. 
    * Indian banks' refinancing with RBI falls to 220.73 billion
rupees. 
    * Indian banks' cash balances with RBI fall to 2.84 trillion
rupees. 

 (Compiled by Swati Bhat; Editing by Jijo Jacob)
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