Indian FX/debt factors to watch - April 18

Thu Apr 18, 2013 8:42am IST

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GLOBAL MARKETS ROUNDUP
    * Asian shares inched lower on Thursday, taking cues from an
overnight drop in U.S. and European equities on renewed concerns
about global growth, which also weighed on commodities.
 
    * The euro nursed heavy losses early in Asia on Thursday,
having suffered its biggest one-day fall in nearly a year on
talk of more easing by the European Central Bank, while
commodity currencies remained under pressure as risk sentiment
took a further dive. 
    * Brent crude futures slipped below $97 a barrel on Thursday
for the first time since July, as worries about global oil
demand persisted amid rising U.S. fuel supplies and a recent
slew of weaker-than-expected economic data. 
    * Prices of U.S. Treasuries rose on Wednesday as sinking
stock prices spooked investors into scooping up safe-haven
government debt. 
           
    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 18,731.16 (-0.07 pct)
    * NSE index 5,688.70 (0.0 pct)
    * Rupee 54.21/20 per dollar (54.15/16)
    * 10-year bond yield 7.80 pct (7.82 pct) 
    * 5-year OIS rate 7.00 pct (7.06 pct) 
    * 1-year OIS rate 7.27 pct (7.31 pct) 
    * Call money 7.60/7.65 pct (7.55/7.65 pct)
    
    FACTORS TO WATCH
    * India to report trade data for March and the full fiscal
year, and launch revised trade policy at 0630 GMT
    * POLL- India cbank monetary policy for 2013/14 at 0730 GMT
      
    MAJOR DEALS/ACQUISITIONS
    * India-based agricultural processing and trading company
REI Agro has picked Credit Suisse, DBS Bank and UBS as leads for
investor meetings in Singapore, Hong Kong and London. 
    * Bhushan Power & Steel, Bhushan Steel, Jindal Steel & Power
and Delhi International Airport are some other issuers mulling
high-yield offshore bonds. 
    * The $125 million seven-year term loan for Amtek Auto has
received two commitments from two Indian banks totalling $55
million. Bank of Baroda and Bank of India have committed $30
million and $25 million to the facility, respectively. 
                
    USD/INR NDFs (NY closing prices)  
    * For up-to-date prices, double click      
      Close      Open      High     Low      Volume      
    54.36-54.39  54.17     54.45    54.25      High
      
    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    April 17*                 $0.038 bln#
    Month-to-date**           $65.79 mln
    Year-to-date**            $10.38 bln
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on April 17 on
SEBI website. 
    #(As per Reuters conversion, $1 = 54.2 rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *   
                                 Debt             
    April 16                  $80.32 mln
    Month-to-date            -$859.95 mln
    Year-to-date               $1.5 bln
    * Source: Data as per custodial filing as on April 17 on
SEBI website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                               April 17
    Foreign Banks                       15.16 bln
    Public Sector Banks                -37.93 bln
    Private Sector Banks                 7.3  bln
    Mutual Funds                        19.71 bln 
    Others                              -7.47 bln
    Primary Dealers                      3.24 bln
    Source: Clearing Corp of India Ltd
   
    MONEY MARKET INFLOWS                         (mln rupees) 
Instrument               Payment    Date              Amount  
(WEST BENGAL) 
SDL 07.99%, 2016         Interest   Apr 18             61.22 
(KERALA) 
SDL 08.04%, 2016         Interest   Apr 18             19.34 
(ARUNACHAL PRADESH) 
SDL 08.80%, 2022         Interest   Apr 18             33.00 
(MANIPUR) 
91 days T-Bill           Redemption Apr 18          50124.10 
364 days T-Bill          Redemption Apr 18          50000.00 
SDL 08.30%, 2017         Interest   Apr 20            451.11 
(4 States) 
SDL 09.03%, 2021         Interest   Apr 20            225.75 
(HARYANA) 
SDL 09.04%, 2021         Interest   Apr 20            219.41 
(3 States) 
SDL 09.05%, 2021         Interest   Apr 20            678.75 
(2 States) 
SDL 09.06%, 2021         Interest   Apr 20            453.00 
(2 States) 
SDL 09.08%, 2021         Interest   Apr 20            681.00 
(WEST BENGAL) 
SDL 09.09%, 2021         Interest   Apr 20           1249.88 
(2 States) 
7.32% 2014               Interest   Apr 20           6588.00 
10.71% 2016              Interest   Apr 20           4819.50 
    
For full table: 
    
    ISSUANCES
Instrument               Date        Amount (in bln rupees)
Government Securities   April 18       150 bln
        
    LIQUIDITY
    * The Reserve Bank of India accepted all 22 bids worth
767.40 billion rupees at its one-day repo auction on Wednesday,
through which it injects liquidity into the banking system. It
also accepted all three bids for 600 million rupees at the
reverse repo auction, through which it absorbs excess liquidity
from the banking system. 
    * Indian banks' refinancing with RBI unchanged at 270.08
billion rupees. 
    * Indian banks' cash balances with RBI rises to 3.12
trillion rupees. 

 (Compiled by Archana Narayanan)
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