December 31, 2013 / 2:37 AM / 4 years ago

Indian FX/debt factors to watch - Dec 31

GLOBAL MARKETS ROUNDUP
    * Global stocks are closing out 2013 sitting on sizable
gains courtesy of super-easy monetary policies and an improving
economic outlook, though some emerging markets have less to crow
about as funds return to rich-world assets. 
    * The dollar hovered within sight of a five-year high versus
the yen on Tuesday and was on track for its biggest yearly
percentage gain versus the Japanese currency in 34 years, having
risen nearly 21 percent in 2013. 
    * Crude oil futures tumbled on both sides of the Atlantic on
Monday on early signals that oil output in Libya may be starting
to recover and concerns over a buildup in local government debt
in China, the world's second-largest oil consumer.    
    * Benchmark U.S. Treasury debt yields slipped but held near
two-year highs on Monday as year-end buying boosted prices,
though volumes were light as the New Year's Day holiday
approaches. 
                    
    LOCAL MARKETS PREVIOUS CLOSE
    * BSE index 21,143.01 (down 0.24 pct)
    * NSE index 6,291.10 (down 0.36 pct)
    * Rupee 61.91/92 per dlr (61.85/86)
    * 10-year bond yield 8.86 pct (8.96 pct)  
    * 5-year OIS rate 8.44 pct (8.45 pct) 
    * 1-year OIS rate 8.49 pct (8.49 pct) 
    * Call money 8.70/8.75 pct (8.70/8.75 pct)

    KEY FACTORS/EVENTS TO WATCH
    * India April-November federal fiscal deficit data.
    * India infrastructure data for Nov. (likely)
    
    DEALS/LOANS
    * U.S.-based Cooper Tire & Rubber Co said it was
terminating a proposed $2.5 billion sale to Apollo Tyres Ltd
, with both sides threatening legal action over a deal
plagued by obstacles from the start. 
    * India's GMR Group has agreed to sell its entire 40 percent
stake in Istanbul's Sabiha Gokcen airport for 225 million euros
($310 million) to Malaysia Airports Holdings Bhd, the
Indian company said on Monday. 

    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    Dec. 30                   $18.72 mln
    Month-to-date**            $2.58 bln
    Year-to-date**            $20.08 bln
    * Provisional NSE data         
    ** Source: Data as per the latest custodial filing as on
Dec. 30 on SEBI website.
    #(As per Reuters conversion, $1 = 61.95 rupees) 
             
    FII INVESTMENTS-DEBT (Net Dollars)  *   
                                    Debt             
    Dec. 27                        $64.6 mln
    Month-to-date                $936.90 mln
    Year-to-date                  -$7.89 bln
    * Source: Data as per latest custodial filing as on Dec. 30
on SEBI website.
       
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                               Dec. 30  
    Foreign Banks                     -107.55 mln
    Public Sector Banks                 -8.81 bln
    Private Sector Banks                 3.59 bln
    Mutual Funds                        -2.45 bln
    Others                               8.58 bln
    Primary Dealers                   -812.18 mln
    Source: Clearing Corp of India Ltd
    
    MONEY MARKET INFLOWS
================================================================
Instrument               Payment    Date            Amount 
                                                 (mln rupees) 
==============================================================
(UTTAR PRADESH) 
8.30% 2042               Interest   Dec 31          20335.00 
================================================================
 For the full table for December inflows, see: 
================================================================
        
    ISSUANCES
PAPER                  AMOUNT (in bln rupees)          DATE
Inflation-linked bonds        5                       Dec 31    
Bonds                         150                     Jan 3    
    LIQUIDITY
    * The Reserve Bank of India said on Monday it accepted all
60 bids for 411.68 billion rupees at its one-day repo auction,
through which it injects liquidity into the banking system. It
also accepted both bids for 0.17 billion rupees at its one-day
reverse repo auction, through which it absorbs excess cash from
the banking system. 
    * Indian banks' refinancing with RBI rises to 448.28 billion
rupees. 
    * Indian banks' cash balances with RBI fall to 3.12 trillion
rupees. 

 (Compiled by Subhadip Sircar)

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