December 10, 2012 / 9:23 AM / 5 years ago

MARKET EYE-India cash rates steady; advance tax outflows key

* India's overnight-day cash steady at 7.90/8.00
percent versus 7.95/8.00 percent Friday close.
* Cash situation will be watched with outflows expected in the
latter half of the week on advance tax outflows from corporates
by banks.
* The central bank will buy up to 120 billion rupees of bonds on
Tuesday through open market operations, which will ease cash.
 
* Absence of a federal bond auction this week will keep the cash
strain in check.
* Repo bids marginally lower at 907.90 billion rupees. 
 
* The total volume in the call money market stands at 104.15
billion rupees at a weighted average rate of 8.09 percent, while
that in the CBLO market stands at 607.62 billion rupees at a
weighted average rate of 7.97 percent.

 (subhadip.sircar@thomsonreuters.com/;
subhadip.sircar.thomsonreuters.com@reuters.net)

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