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Indian FX/debt factors to watch - March 7
March 7, 2013 / 3:12 AM / in 5 years

Indian FX/debt factors to watch - March 7

GLOBAL MARKETS ROUNDUP
    * Asian shares fell after two strong days of gains on
Thursday, as  investors focused on meetings of the central banks
of Japan, Britain and the euro zone for signs of more policy
stimulus, while solid U.S. economic data underpinned the dollar.
 
    * The yen, euro and sterling all struggled on Thursday with
the pound hitting a 2-1/2 year trough as markets positioned for
more stimulus from the Bank of England, and waited for the
outcomes of the Bank of Japan and European Central Bank
meetings. 
    * Brent crude futures eased to trade just under $111 per
barrel on Thursday as traders eyed central bank meetings and
economic data this week to give a better picture on the
prospects for oil demand in the world's top consumers. 
    * U.S. Treasuries prices fell for a third consecutive
session on Wednesday as better-than-expected jobs data
undermined the safe-haven allure of U.S. government debt, and as
investors set up for new debt supply next week. 
       
    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 19,252.61 (+0.57 pct)
    * NSE index 5,818.60 (+0.59 pct)
    * Rupee 54.7150/7250 per dollar (54.92/93)
    * 10-year bond yield 7.86 pct (7.87 pct) 
    * 5-year OIS rate 7.20 pct (7.19 pct) 
    * 1-year OIS rate 7.56 pct (7.57 pct) 
    * Call money 7.85/7.90 pct (7.70/7.75 pct)
                               
    OVERNIGHT NEWS
    * Indian banks' advances were sluggish at the end of 10
months in the ongoing financial year to March, provisional data
from the Reserve Bank of India showed on Wednesday.
 
                          
    MAJOR DEALS/ACQUISITIONS
    * India's Hindustan Petroleum Corp is planning to
raise at least 2 billion rupees ($36.47 million) through 5-year
bonds, two sources with knowledge of the deal said.
 
    * Housing Development Finance Corp, India's
biggest mortgage lender, plans to raise 5 billion rupees ($91.17
million) through five-year bonds at 9.25 percent, two sources
with direct knowledge of the deal said on Wednesday.
 
           
    USD/INR NDFs (NY closing prices)    
    * For up-to-date prices, double click   
      Close      Open      High     Low      Volume   
    55.19-21    55.16     55.25    55.10      High
     
    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    March 6*                  $95.80 mln#
    Month-to-date**            $8.57 mln 
    Year-to-date**             $8.64 bln         
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on March 6 on
SEBI website.
    #(As per Reuters conversion, $1 = 54.70 rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *  
                              Debt             
    March 5                $98.04 mln
    Month-to-date         $382.43 mln
    Year-to-date            $1.68 bln                    
    * Source: Data as per custodial filing as on March 6 on SEBI
website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                March 6
    Foreign Banks                       -0.93 bln
    Public Sector Banks                  2.49 bln
    Private Sector Banks                -5.08 bln
    Mutual Funds                         2.74 bln 
    Others                              -1.66 bln
    Primary Dealers                      2.44 bln
    Source: Clearing Corp of India Ltd
   
    MONEY MARKET INFLOWS                         (mln rupees) 
Instrument               Payment    Date              Amount  
SDL 08.62%, 2021         Interest   Mar 07           1055.95 
(4 States) 
SDL 08.63%, 2021         Interest   Mar 07            863.00 
(ANDHRA PRADESH) 
SDL 08.92%, 2022         Interest   Mar 07           1248.80 
(2 States) 
SDL 08.93%, 2022         Interest   Mar 07            223.25 
(HARYANA) 
SDL 08.94%, 2022         Interest   Mar 07            670.50 
(GUJARAT) 
SDL 08.95%, 2022         Interest   Mar 07           1118.75 
(MAHARASHTRA) 
SDL 08.96%, 2022         Interest   Mar 07            254.02 
(PUNJAB) 
SDL 08.97%, 2022         Interest   Mar 07            448.50 
(ANDHRA PRADESH) 
SDL 08.99%, 2022         Interest   Mar 07            899.00 
(2 States) 
SDL 09.01%, 2022         Interest   Mar 07             90.10 
(JAMMU & KASHMIR) 
SDL 08.39%, 2020         Interest   Mar 08           1572.31 
(3 States) 
SDL 08.40%, 2020         Interest   Mar 08            336.00 
(PUNJAB) 
SDL 08.41%, 2020         Interest   Mar 08            420.50 
(UTTAR PRADESH) 
91 days T-Bill           Redemption Mar 08         110213.00 
364 days T-Bill          Redemption Mar 08          40000.00 
For full table: 
  
    LIQUIDITY
    * The RBI said on Wednesday it accepted all 17 bids for
379.70 billion rupees at its one-day repo auction, through which
it injects cash into the banking system. It also accepted both
bids for 900 million rupees at its reverse repo auction, through
which it absorbs cash from the system. 
    * Indian banks' refinancing with RBI rises to 172.22 billion
rupees. 
    * Indian banks' cash balances with RBI rise to 2.97 trillion
rupees. 

 (Compiled by Swati Bhat)

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