Indian FX/debt factors to watch - April 26

Fri Apr 26, 2013 8:07am IST

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GLOBAL MARKETS ROUNDUP
    *  Asian shares steadied on Friday, tracking global equities
higher after upbeat U.S. labour market data, with investors
turning their attention toward corporate earnings to assess the
outlook for growth. 
    *  The dollar traded near a four-year high against the yen
and kept an upper hand against the euro on Friday after an
unexpectedly big slide in U.S. jobless claims alleviated some
concerns about a slowdown in the world's biggest economy. 
    *  Oil prices rose as much as $2 on Thursday as new reports
over Syria's possible use of chemical weapons stirred concerns
over stability in the Gulf region, while a wider rally in
commodity and equity markets fuelled buying. 
    * U.S. Treasuries prices slipped on Thursday, with benchmark
yields lingering close to their four-plus month lows, as
better-than-expected labour market data and gains in the stock
market nicked the safe haven bid in bonds. 
           
    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 19,406.85 (up 1.19 pct)
    * NSE index 5,916.30 (up 1.36 pct)
    * Rupee 54.21/22 per dollar (54.38/39)
    * 10-year bond yield 7.77 pct (7.73 pct) 
    * 5-year OIS rate 6.97 pct (6.94 pct) 
    * 1-year OIS rate 7.22 pct (7.22 pct) 
    * Call money 7.60/7.70 pct (7.70/7.80 pct)
    
    FACTORS TO WATCH
    * The India Meteorological Department releases maiden
forecast for the four-month long monsoon season from June.
    * RBI to release forex, bank loan data.
        
    MAJOR DEALS/ACQUISITIONS
    * Basmati rice processor REI Agro is yet to update investors
on the progress of its planned US dollar bond after opening
books at initial price talk of around 12 pct Thursday
morning.(IFR)
    * Tata Steel finally showed up after a day's silence with
its Singapore dollar 10-year Reg S debut at an initial guidance
of 5.25 percent area which was revised to 4.95 percent. (IFR)
    * Welspun Solar Madhya Pradesh raised a 8.85 bln rupees
(US$163m) loan to part finance development of a 130MW solar
power project in central India. (IFR)
    * Trident Corp raised a 2.75 bln rupees nine-year loan for
setting up a coal based 60MW power plant at Budni in Madhya
Pradesh. Signed on April 1, the loan pays an interest of 255bp
over the 9.70 percent base rate of State Bank of India. (IFR)
    * SBI Caps also arranged a 900 mln rupee loan for Orange
Renewable Power. The 14-year loan will be used to construct a
19.5MW wind power plant in Rajasthan. (IFR)

     USD/INR NDFs (NY closing prices)  
    * For up-to-date prices, double click      
      Close      Open      High     Low      Volume      
    54.33-54.36  54.40     54.39   54.31      High
      
    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    April 25*                $267.39 mln#
    Month-to-date**          $537.24 mln
    Year-to-date**            $10.96 bln
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on April 25 on
SEBI website. 
    #(As per Reuters conversion, $1 = 54.19 rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *   
                                 Debt             
    April 23                  $411.31 mln
    Month-to-date            -$225.58 mln
    Year-to-date                $1.64 bln
    * Source: Data as per custodial filing as on April 25 on
SEBI website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                               April 25
    Foreign Banks                       20.65 bln
    Public Sector Banks                 52.68 bln
    Private Sector Banks               -70.74 bln
    Mutual Funds                         2.05 bln 
    Others                               6.37 bln
    Primary Dealers                     -11.0 bln
    Source: Clearing Corp of India Ltd
   
    MONEY MARKET INFLOWS                         (mln rupees) 
Instrument               Payment    Date              Amount  
91 days T-Bill           Redemption Apr 26          90451.50 
182 days T-Bill          Redemption Apr 26          50000.00 
SDL 08.45%, 2021         Interest   Apr 27             63.38 
(MIZORAM) 
SDL 08.47%, 2021         Interest   Apr 27            762.30 
(2 States) 
SDL 08.48%, 2020         Interest   Apr 27             42.40 
(GOA) 
SDL 08.50%, 2020         Interest   Apr 27            233.75 
(2 States) 
SDL 08.51%, 2020         Interest   Apr 27           1191.40 
(4 States) 
SDL 08.52%, 2020         Interest   Apr 27            213.00 
(ANDHRA PRADESH) 
SDL 08.53%, 2020         Interest   Apr 27           1344.24 
(2 States) 
SDL 08.55%, 2020         Interest   Apr 27            641.25 
(UTTAR PRADESH) 

For full table: 
    
        
    LIQUIDITY
    * The Reserve Bank of India accepted all 33 bids worth
989.95 billion rupees at its one-day reverse repo auction on
Thursday, through which it injects liquidity into the banking
system. It also accepted both bids for 500 million rupees at the
reverse repo auction, through which it absorbs excess liquidity
from the banking system. 
    * Indian banks' refinancing with RBI rises to 306.7 billion
rupees. 
    * Indian banks' cash balances with RBI rise to 2.84 trillion
rupees. 

 (Compiled by Subhadip Sircar)
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