Weekahead - Debt/FX investors to parse economic data

Sun Nov 24, 2013 12:14pm IST

A street side restaurant owner holds a bundle of rupee notes as he sits outside his restaurant in New Delhi November 22, 2013. REUTERS/Adnan Abidi/Files

A street side restaurant owner holds a bundle of rupee notes as he sits outside his restaurant in New Delhi November 22, 2013.

Credit: Reuters/Adnan Abidi/Files

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Reuters Market Eye - The health of India's economy will come into shape with July-September GDP data, while fiscal deficit should give further clues about the country's finances ahead of general elections next year.

Bond traders are also hoping for open market operations of bond purchases by the Reserve Bank of India to cool down yields, after the central bank bought 61.6 billion rupees of bonds on November 18.

The yield on new 10-year benchmark bond, first issued at an auction on November 22, is expected to remain in an 8.70-8.80 percent range.

The rupee is expected to trade in a narrow range of 62.80-63.50 levels to the U.S. dollar, dealers said.

Foreign flows will be key for currency markets after foreign institutional investors sold shares worth of 598 million rupees on Thursday to snap their 32-day buying streak totalling 238.84 billion rupees.

Sat: Pfizer Ltd (PFIZ.NS) and Wyeth Ltd (WLED.NS) boards meet to discuss merger

Mon: Elections to be held in Madhya Pradesh

Tues: Cairn India Ltd (CAIL.NS) board to meet buyback proposal

Wed: India's money supply data Thurs: Expiry of November equity derivatives contracts

Fri: July-September GDP data (around 1200 GMT)

April-October fiscal deficit

(Reporting by Abhishek Vishnoi)

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