June 20, 2013 / 2:32 AM / 4 years ago

Indian FX/debt factors to watch - June 20

GLOBAL MARKETS ROUNDUP
    * Asian shares deepened losses on Thursday after U.S.
Federal Reserve Chairman Ben Bernanke confirmed market fears
that the Fed would begin reducing its stimulus later this year
as the economy improved. 
    *  The U.S. dollar held firm in Asia on Thursday, having
posted its best one-day gain in over a month after the Federal
Reserve confirmed that it would begin to dial down stimulus this
year if the economy continued to recover as it expected. 
    *  Oil prices were pressured on Wednesday after U.S. Federal
Reserve Chairman Ben Bernanke said the Fed might reduce the
amount of money it pumps into the economy later this year, while
higher crude stocks in the United States also hurt prices. 
    * Benchmark U.S. Treasury yields surged to their highest
levels in 15 months on Wednesday as Federal Reserve Chairman Ben
Bernanke suggested the U.S. central bank was prepared to reduce
bond purchases if its economic outlook proves correct, even
though the U.S. economy remained stuck at a sluggish pace. 
           
    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 19,245.70 (0.12 pct)
    * NSE index 5,822.25 (0.15 pct)
    * Rupee 58.71/72 per dollar (58.77/78)
    * 10-year bond yield 7.26 pct (7.28 pct) 
    * 5-year OIS rate 6.95 pct (6.97 pct) 
    * 1-year OIS rate 7.20 pct (7.21 pct) 
    * Call money 7.25/7.30 pct (7.20/7.30 pct)
                 
     OVERNIGHT NEWS
    * The Reserve Bank of India will sell 10 billion rupees
($170.17 million) of 1.44 percent 2023 inflation-indexed
government bonds on June 25 via uniform price method, it said on
Wednesday. 

    FACTORS TO WATCH
    * India to auction $7.15 bln in debt quotas for foreign
investors.
     
     MAJOR DEALS/ACQUISITIONS
    *  ICICI Bank plans to offer bonds totalling up to 50
billion yen ($525 million) to Japanese institutional investors
in a rare test of Japanese appetite for an Indian credit. (IFR)

     USD/INR NDFs (NY closing prices)   
    * For up-to-date prices, double click       
      Close      Open      High     Low      Volume       
    59.95-00    59.24     59.83     59.10      High
                   
    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    June 19*                  -$92.78 mln#
    Month-to-date**          -$412.24 mln
    Year-to-date**             $14.94 bln
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on June 19 on
SEBI website. 
    #(As per Reuters conversion, $1 = 58.74 rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *   
                                 Debt             
    June 18                  -$99.89 mln
    Month-to-date             -$3.60 bln
    Year-to-date             $880.50 mln
    * Source: Data as per custodial filing as on June 19 on SEBI
website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                June 19 
    Foreign Banks                      -40.99 bln
    Public Sector Banks                  6.75 bln
    Private Sector Banks                24.33 bln
    Mutual Funds                         3.75 bln 
    Others                            -950.63 mln
    Primary Dealers                     7.12  bln
    Source: Clearing Corp of India Ltd
      
    MONEY MARKET INFLOWS
Instrument               Payment    Date             Amount 
                                                  (mln rupees)
SDL 08.45%, 2017         Interest   Jun 20            380.25 
(2 States) 
SDL 08.46%, 2017         Interest   Jun 20            211.50 
(RAJASTHAN) 
SDL 08.48%, 2017         Interest   Jun 20            440.79 
(3 States) 
SDL 08.49%, 2017         Interest   Jun 20            265.31 
(MADHYA PRADESH) 
SDL 08.52%, 2017         Interest   Jun 20            170.83 
(ASSAM) 
SDL 08.57%, 2017         Interest   Jun 20             42.85 
(JAMMU & KASHMIR) 
SDL 08.89%, 2022         Interest   Jun 20            711.20 
(2 States) 
SDL 08.90%, 2022         Interest   Jun 20             89.00 
(JHARKHAND) 
SDL 08.91%, 2022         Interest   Jun 20            356.40 
(HARYANA) 
SDL 08.92%, 2022         Interest   Jun 20            669.00 
(UTTAR PRADESH) 
SDL 08.95%, 2022         Interest   Jun 20            223.75 
(WEST BENGAL) 
SDL 08.78%, 2021         Interest   Jun 21            676.06 
(2 States) 
SDL 08.79%, 2021         Interest   Jun 21            879.00 
(MAHARASHTRA) 
SDL 08.80%, 2021         Interest   Jun 21           1284.36 
(3 States) 
SDL 08.81%, 2021         Interest   Jun 21            572.65 
(WEST BENGAL) 
SDL 08.83%, 2021         Interest   Jun 21            176.60 
(2 States) 
SDL 08.88%, 2021         Interest   Jun 21            222.00 
(RAJASTHAN) 
SDL 08.90%, 2021         Interest   Jun 21             66.75 
(NAGALAND) 
8.15% FRB 2020           Interest   Jun 21           5297.50 
91 days T-Bill           Redemption Jun 21          87059.00 
182 days T-Bill          Redemption Jun 21          50000.00 

For the full table on inflows see: 
    
    LIQUIDITY
    * The RBI accepted all 24 bids for 603.40 billion rupees at
its one-day repo auction, through which it injects liquidity
into the banking system. It also accepted both bids received for
3.05 billion rupees at its reverse repo auction, through which
it absorbs excess liquidity from the banking system.Ÿ
 
    * Indian banks' refinancing with RBI marginally lower at
229.14 billion rupees. 
    * Indian banks' cash balances with RBI rise to 3.22 trillion
rupees. 

 (Compiled by Subhadip Sircar; Editing by Sunil Nair)

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