September 11, 2013 / 2:43 AM / 4 years ago

Indian FX/debt factors to watch - Sept 11

GLOBAL MARKETS ROUNDUP
    * Asian stocks rose on Wednesday, on track to post their
tenth straight day of gains, while investors gave the safe-haven
yen a wide berth as optimism on the Chinese economy grew and
worries about U.S. military strikes on Syria receded.
 
    * The yen eased to a seven-week low versus the dollar on
Wednesday after U.S. President Barack Obama said during a
televised address on Syria that he had deeply held a preference
for peaceful solutions and had seen encouraging signs in the
last few days. 
    *  Oil prices on both sides of the Atlantic fell by more
than $2 a barrel on Tuesday as Syria accepted a Russian proposal
to give up its chemical weapons, easing concerns about the
potential for U.S. military strikes against Damascus. 
    *  U.S. Treasuries yields climbed on Tuesday as upbeat
Chinese industrial output and retail sales data eased fears of
an economic slowdown, while ebbing concerns about a Western-led
attack on Syria also reduced demand for safe-haven U.S. debt. 
 
                    
    LOCAL MARKETS PREVIOUS CLOSE
    * BSE index 19,997.10 (+3.77 pct)
    * NSE index 5,896.75 (+3.81 pct)
    * Rupee 63.84/85 per dollar (65.24/25)
    * 10-year bond yield 8.47 pct (8.63 pct) 
    * 5-year OIS rate 8.27 pct (8.44 pct) 
    * 1-year OIS rate 9.09 pct (9.26 pct) 
    * Call money 10.20/10.25 pct (10.15/10.20 pct)
                                              
     OVERNIGHT NEWS
    * Jeffrey Gundlach, chief executive of DoubleLine Capital
LP, on Tuesday gave a strongly negative outlook for the Indian
stock market, saying it could be hit especially hard by outflows
of funds from emerging markets on expected changes in monetary
policy by major central banks. 
    * The Reserve Bank of India said on Tuesday banks can raise
funds overseas above 50 percent of their Tier I capital with a
minimum maturity of three years and swap these borrowings with
the central bank at a concessional rate for one to three years. 
 
    *  The Reserve Bank of India's net sales on the spot foreign
exchange market jumped to $5.98 billion in July from a June
figure of $2.25 billion, central bank data showed on Tuesday.
 
              
    USD/INR NDFs (NY closing prices)    
    * For up-to-date prices, double click        
      Close      Open      High     Low      Volume        
    64.40-50    64.80      64.94    64.20     High 
        
    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    Sept. 10*                $400.89 mln#
    Month-to-date**          $329.10 mln
    Year-to-date**            $11.91 bln
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on Sept. 10 on
SEBI website.
    #(As per Reuters conversion, $1 = 63.9575 rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *   
                                 Debt             
    Sept. 6                   -$101.71 mln
    Month-to-date              $154.74 mln
    Year-to-date                -$4.61 bln
    * Source: Data as per custodial filing as on Sept. 10 on
SEBI website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                  Sept. 10
    Foreign Banks                          4.60 bln
    Public Sector Banks                   34.50 mln
    Private Sector Banks                  -4.02 bln
    Mutual Funds                          -3.34 bln 
    Others                                 2.34 bln
    Primary Dealers                      376.50 bln
    Source: Clearing Corp of India Ltd

    MONEY MARKET INFLOWS
Instrument               Payment    Date           Amount 
                                               (mln rupees)
10.18% 2026              Interest   Sep 11           7635.00 
91 days T-Bill           Redemption Sep 12         167150.50 
182 days T-Bill          Redemption Sep 12          50025.30 
For a detailed table see: 
       
    ISSUANCES
INSTRUMENT          AMOUNT (in bln rupees)      DATE
T-Bills                     120               Sept. 11
    
    LIQUIDITY
    * The RBI accepted 65 bids for 401.22 billion rupees at its
one-day repo auction. It also accepted 4 bids for 480 million
rupees at its one-day reverse repo auction, through which it
absorbs excess liquidity from the banking system.Ÿ
 
    * Indian banks' refinancing with RBI rises to 435.94 billion
rupees. 
    * Indian banks' cash balances with RBI at 3.31 trillion
rupees. 

 (Compiled by Subhadip Sircar; Editing by Sunil Nair)

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