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Indian FX/debt factors to watch - August 5
August 5, 2013 / 3:02 AM / 4 years ago

Indian FX/debt factors to watch - August 5

GLOBAL MARKETS ROUNDUP
    *  Asian shares were soft in early trade as the U.S. dollar
was on the defensive after data showed U.S. employers slowed
their pace of hiring in July, while the NZ dollar dropped after
a food-safety scare affected exports of the country's largest
company. 
    *  The New Zealand dollar skidded nearly 2 U.S. cents to
one-year lows on Monday morning as investors feared the worst
after major dairy exporter, Fonterra, found botulism bacteria in
some of its products. 
    *  Oil futures fell on Friday as U.S. jobs data came in
below expectations, tempering economic optimism that had pushed
Brent crude during the session to its highest level in four
months, and prompting some investors to take profits. 
    *  U.S. Treasuries yields fell from two-year highs on Friday
after weaker-than-expected U.S. job growth in July added to
uncertainty over the timing of when the Federal Reserve is
likely to pare back its bond purchase program. 
                    
    LOCAL MARKETS PREVIOUS CLOSE
    * BSE index 19,164.02 (-0.79 pct)
    * NSE index 5,677.90 (-0.87 pct)
    * Rupee 61.10/11 per dollar (60.43/44) 
    * 10-year bond yield 8.28 pct (8.07 pct) 
    * 5-year OIS rate 8.44 pct (8.37 pct) 
    * 1-year OIS rate 9.37 pct (9.36 pct) 
    * Call money 7.5/7.6 pct (7.5/7.6 pct)
            
    KEY FACTORS/EVENTS TO WATCH
    * The monsoon session of India's parliament kicks off on
Monday. Parliament is expected to pass an ambitious bill to
provide cheap food to two thirds of the population, which was
passed by an executive order last month. (0230 GMT)
    * The Reserve Bank of India's Deputy Governor Anand Sinha
will be attending an industry event on financial inclusion.
(0430GMT)
    
    OVERNIGHT NEWS
    * India has relaxed restrictions on the export of cotton by
the state-run Cotton Corporation of India (CCI) in the current
season to end-September as the world's second-biggest cotton
grower expects a better crop in 2013/2014. 
    * Vodafone Group Plc may be forced to sell its 4.4
percent stake in India's top telecom services provider Bharti
Airtel Ltd - worth about $1 billion - after rules
published on Friday outlawed crossholdings in rival telecom
companies. 
     
    DEALS
    * The government plans to launch the $781 million Indian Oil
Corp offer for sale in September after the federal cabinet
approved the sale. 
    * Indian state-owned electricity distributor Power Grid Corp
plans to sell a 15 percent stake through a 71 billion rupees
follow-on offering. 
    * Idea Cellular will issue up to 30 billion rupees of shares
by way of qualified institutional placements, while another up
to 7.5 billion rupees worth shares will be issued as
preferential allotment to Malaysia's Axiata Group. 
    * Utkal Alumina International, a wholly-owned subsidiary of
Hindalco Industries, has refinanced a 47 billion rupees
syndicated loan with a bilateral loan to save costs and in a
sign that Indian issuers are getting more price-sensitive in
difficult times. 
        
    USD/INR NDFs (NY closing prices)    
    * For up-to-date prices, double click        
      Close      Open      High     Low      Volume        
    61.47-50    61.42      61.70    61.30     High 
        
    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    Aug  2*                   $46.45 mln#
    Month-to-date**           $28.98 mln
    Year-to-date**            $12.56 bln
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on Aug 2 on SEBI
website.
    #(As per Reuters conversion, $1 = 61.1 rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *   
                                 Debt             
    Aug 1                     -$23.87 mln
    Month-to-date             -$124.31 mln
    Year-to-date                -$3.33 bln
    * Source: Data as per custodial filing as on Aug 2 on SEBI
website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                  Aug 2
    Foreign Banks                        -22.73 bln
    Public Sector Banks                    8.65 bln
    Private Sector Banks                   0.21 bln
    Mutual Funds                          27.99 bln 
    Others                                12.91 bln
    Primary Dealers                      -27.03 bln
    Source: Clearing Corp of India Ltd

    MONEY MARKET INFLOWS 
Instrument               Payment    Date             Amount  
SDL 07.32%, 2015         Interest   Aug 05             91.50 
(KERALA) 
SDL 07.95%, 2017         Interest   Aug 05             79.50 
(JAMMU & KASHMIR) 
SDL 07.95%, 2019         Interest   Aug 05            596.25 
(2 States) 
SDL 07.99%, 2019         Interest   Aug 05            799.00 
(MAHARASHTRA) 
SDL 08.01%, 2019         Interest   Aug 05            190.00 
(JHARKHAND) 
SDL 08.02%, 2019         Interest   Aug 05            802.00 
(WEST BENGAL) 
SDL 08.03%, 2019         Interest   Aug 05            602.25 
(UTTAR PRADESH) 
SDL 08.32%, 2020         Interest   Aug 05           1014.00 
(3 States) 
SDL 08.37%, 2020         Interest   Aug 05            502.20 
(UTTAR PRADESH) 
SDL 08.42%, 2020         Interest   Aug 05            210.50 
(JAMMU & KASHMIR) 
SDL 07.24%, 2019         Interest   Aug 06            236.74 
(3 States) 
SDL 07.26%, 2019         Interest   Aug 06            435.60 
(TAMIL NADU) 
SDL 07.27%, 2019         Interest   Aug 06            834.23 
(2 States) 
SDL 07.29%, 2019         Interest   Aug 06            364.50 
(RAJASTHAN) 
SDL 08.66%, 2023         Interest   Aug 06            246.81 
(HARYANA) 
SDL 08.67%, 2023         Interest   Aug 06           1127.10 
(2 States) 
SDL 08.68%, 2023         Interest   Aug 06            434.00 
(GUJARAT) 
SDL 08.69%, 2023         Interest   Aug 06            217.25 
(BIHAR) 
SDL 08.71%, 2023         Interest   Aug 06            217.75 
(PUNJAB) 
SDL 08.72%, 2023         Interest   Aug 06           1090.00 
(ANDHRA PRADESH) 
11.43% 2015              Interest   Aug 07           6858.00 
SDL 08.68%, 2022         Interest   Aug 08            108.50 
(PUNJAB) 
SDL 08.69%, 2022         Interest   Aug 08           1520.75 
(3 States) 
SDL 08.71%, 2022         Interest   Aug 08           1088.75 
(2 States) 
SDL 08.73%, 2022         Interest   Aug 08             69.84 
(HIMACHAL PRADESH) 
SDL 08.90%, 2022         Interest   Aug 08            333.75 
(ANDHRA PRADESH) 
SDL 08.91%, 2022         Interest   Aug 08            245.03 
(HARYANA) 
SDL 08.92%, 2022         Interest   Aug 08           2809.80 
(6 States) 
SDL 08.93%, 2022         Interest   Aug 08            580.45 
(2 States) 
SDL 08.97%, 2022         Interest   Aug 08            112.13 
(NAGALAND) 
91 days T-Bill           Redemption Aug 08         205177.00 
364 days T-Bill          Redemption Aug 08          50072.50 
SDL 08.51%, 2021         Interest   Aug 10            212.75 
(PUNJAB) 
SDL 08.52%, 2021         Interest   Aug 10            213.00 
(JHARKHAND) 
SDL 08.53%, 2021         Interest   Aug 10            426.50 
(GUJARAT) 
SDL 08.55%, 2021         Interest   Aug 10            427.50 
(WEST BENGAL) 
SDL 08.56%, 2021         Interest   Aug 10           1498.00 
(2 States) 
SDL 08.58%, 2021         Interest   Aug 10            429.00 
(UTTAR PRADESH) 
8.51% FRB 2015           Interest   Aug 10           2553.00 
10.03% 2019              Interest   Aug 10           3009.00 
7.50% 2034               Interest   Aug 10          22500.00 
For the full table on inflows see: 

    ISSUANCES
INSTRUMENT          AMOUNT (in bln rupees)      DATE
Tbills                     120                 Aug 7
CMB                         30                 Aug 5            
                 
    LIQUIDITY
    * The RBI accepted all 60 repo bids for 372.64 billion
rupees at its three-day repo auction, through which it injects
liquidity into the banking system. It also accepted all 4 bids
for 1.10 billion rupees at its reverse repo auction, through
which it absorbs excess liquidity from the banking system.Ÿ
 
    * Indian banks' refinancing with RBI falls to 417.42 
billion rupees. 
    * Indian banks' cash balances with RBI falls to 3.22
trillion rupees. 

 (Compiled by Archana Narayanan; Editing by Jijo Jacob)

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