August 27, 2013 / 3:07 AM / 4 years ago

Indian FX/debt factors to watch - Aug 27

GLOBAL MARKETS ROUNDUP
    *  Asian stocks slipped on Tuesday, while Brent crude held
near a five-month high after the United States signalled
possible military action against the Syrian government over a
suspected chemical weapons attack. 
    * The dollar was marking time against the majors on Tuesday
after disappointing U.S. data dragged Treasury yields lower but
failed to budge bets the Federal Reserve will start tapering
stimulus next month. 
    *  Brent crude oil prices hit a five-month high above $111 a
barrel on Monday as the United States signalled it was edging
toward a possible military response to last week's suspected
chemical attack in Syria, but prices settled slighty lower in
choppy trade as weak U.S. economic data weighed. 
    * Prices of U.S. Treasuries rose for a second straight
session on Monday as weaker-than-expected economic data fuelled
views the U.S. Federal Reserve might not trim its massive bond
purchase program until later in the year. 
                    
    LOCAL MARKETS PREVIOUS CLOSE
    * BSE index 18,558.13 (0.21 pct)
    * NSE index 5,476.50 (0.09 pct)
    * Rupee 64.30/31 per dollar (63.20/21)
    * 10-year bond yield 8.34 pct (8.26 pct) 
    * 5-year OIS rate 8.42 pct (8.41 pct) 
    * 1-year OIS rate 9.50 pct (9.45 pct) 
    * Call money 10.20/10.25 pct (10.20/10.25 pct)
           
    FACTORS TO WATCH
    *  Finance Minister P Chidambaram is likely to brief the
media.
                         
    OVERNIGHT NEWS
    *  Sonia Gandhi, the president of India's ruling Congress
party who is widely seen as the country's most powerful
politician, was taken to hospital on Monday after feeling unwell
during a marathon parliament debate on a major new food welfare
scheme. 
    *  India's lower house of parliament approved a plan worth
nearly $20 billion on Monday to provide cheap grain to the poor,
a key part of the ruling Congress party's strategy to win
re-election. 
               
    DEALS
    * Three state-owned entities are in the market with tax-free
bonds. Power Finance Corp (PFC), Rural Electrification Corp
(REC) and Housing and Urban Development Corp (HUDCO) have called
for bids for sales that will together raise a minimum 3.5 bln
rupees. 

                
    USD/INR NDFs (NY closing prices)    
    * For up-to-date prices, double click        
      Close      Open      High     Low      Volume        
    65.44-48    64.90      65.47    65.02     High 
        
    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    Aug 26*                  -$94.47 mln#
    Month-to-date**         -$464.39 mln
    Year-to-date**            $12.02 bln
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on Aug. 26 on
SEBI website.
    #(As per Reuters conversion, $1 = 64.3 rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *   
                                 Debt             
    Aug 25                    -$419.54 mln
    Month-to-date               -$1.42 bln
    Year-to-date                -$4.63 bln
    * Source: Data as per custodial filing as on Aug 26 on SEBI
website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                  Aug 26
    Foreign Banks                         -1.08 bln
    Public Sector Banks                    0.24 bln
    Private Sector Banks                  -6.64 bln
    Mutual Funds                          13.41 bln 
    Others                                -2.36 bln
    Primary Dealers                       -3.58 bln
    Source: Clearing Corp of India Ltd

    MONEY MARKET INFLOWS 
Instrument               Payment    Date             Amount 
SDL 09.30%, 2018         Interest   Aug 27            930.00 
(2 States) 
SDL 09.44%, 2018         Interest   Aug 27             11.61 
(2 States) 
SDL 07.65%, 2016         Interest   Aug 28            363.38 
(4 States) 
SDL 07.67%, 2016         Interest   Aug 28            237.50 
(PUNJAB) 
SDL 07.68%, 2016         Interest   Aug 28            230.40 
(TAMIL NADU) 
SDL 07.70%, 2016         Interest   Aug 28            241.62 
(4 States) 
SDL 07.75%, 2016         Interest   Aug 28            127.10 
(KERALA) 
SDL 07.85%, 2016         Interest   Aug 28            198.14 
(UTTAR PRADESH) 
SDL 08.11%, 2016         Interest   Aug 28            425.78 
(4 States) 
7.46% 2017               Interest   Aug 28          21591.78 
5.87% 2022               Interest   Aug 28           3228.50 
7.95% 2032               Interest   Aug 28          23452.50 
91 days T-Bill           Redemption Aug 29         179715.00 
182 days T-Bill          Redemption Aug 29          41924.50 
SDL 08.60%, 2021         Interest   Aug 30            107.50 
(PUNJAB) 
SDL 08.64%, 2021         Interest   Aug 30            432.00 
(WEST BENGAL)      
For the full table on inflows see: 

    ISSUANCES
INSTRUMENT          AMOUNT (in bln rupees)      DATE
CMB                      220                   Aug 27 
Tbill                    120                   Aug 28
OMO                       80                   Aug 30           
                  
    LIQUIDITY
    * The RBI accepted all 64 bids for 397.79 billion rupees at
its one-day repo auction. It accepted the sole bid for 100
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 falls to 355.34 billion
rupees. 
    * Indian banks' cash balances with RBI stay at 3.18 trillion
rupees. 

 (Compiled by Archana Narayanan)

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