June 3, 2014 / 3:12 AM / 3 years ago

Indian FX/debt factors to watch - June 3

GLOBAL MARKETS ROUNDUP
    * Reassuring Chinese factory data and another record high
for Wall Street lifted world stocks and commodities on Monday,
as markets waited to see how far the European Central Bank will
go with policy easing plans this week. 
    * The dollar hovered near a four-month high against a basket
of major currencies early on Tuesday, bolstered by upbeat U.S.
data and taking advantage of a euro that is still in the
doldrums ahead of a much-anticipated European Central Bank
meeting later this week. 
    * Brent and U.S. crude oil futures fell in choppy trading on
Monday, weighed on by a stronger dollar and recent data showing
rising OPEC oil production. 
    * U.S. Treasuries yields rose on Monday, after falling to
one-year lows last week, as investors completed month-end bond
purchases and before a highly anticipated European Central Bank
meeting and U.S. employment report due later this week. 
                    
    LOCAL MARKETS PREVIOUS CLOSE
    * BSE index 24,684.85 (up 1.93 pct)
    * NSE index 7,362.50 (up 1.83 pct)
    * Rupee 59.1525/1625 per dlr (59.10/11)
    * 10-year bond yield 8.66 pct (8.64 pct)  
    * 5-year OIS rate 8.08 pct (8.09 pct) 
    * 1-year OIS rate 8.39 pct (8.38 pct) 
    * Call money 7.05/7.10 pct (7.30/7.40 pct)
    
    KEY EVENTS/FACTORS TO WATCH
    * India's central bank to release monetary policy decision
at 0530 GMT.
                         
    OVERNIGHT NEWS
    * Reserve Bank of India Governor Raghuram Rajan is expected
to keep the country's key lending rate unchanged and temper his
tough rhetoric on inflation in a conciliatory gesture to a new
government elected on a platform of reviving economic growth.
 

    USD/INR NDFs (NY closing prices)
    For up-to-date prices, double click PNDF
     Close      Open     High      Low     Volume
    59.46-49   59.50    59.52     59.38     N/A

    FII INVESTMENTS-EQUITIES (Net dollars)
    June 2*                        $39.68 mln
    Year-to-date**                  $8.12 bln
    * Provisional NSE data         
    ** Source: Data as per the latest custodial filing as on
June 2 on SEBI website.

    FII INVESTMENTS-DEBT (Net Dollars) INFIX INFII01* Debt
    May 30                        $151.48 mln 
    Year-to-date                    $7.74 bln
    * Source: Data as per latest custodial filing as on June 2
on SEBI website.
                              
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees) 
                                         June 2
    Foreign Banks                        3.98 bln
    Public Sector Banks                  0.84 bln
    Private Sector Banks                -4.39 bln
    Mutual Funds                         3.79 bln
    Others                               5.53 bln
    Primary Dealers                     -9.75 bln
    Source: Clearing Corp of India Ltd
    
===========================================================
Instrument               Payment    Date           Amount
                                               (mln rupees)
===========================================================   
SDL 08.45%, 2017         Interest   Jun 03             90.84
(RAJASTHAN)
SDL 08.47%, 2017         Interest   Jun 03            254.10
(TAMIL NADU)
SDL 08.48%, 2017         Interest   Jun 03            212.00
(ANDHRA PRADESH)
SDL 08.50%, 2017         Interest   Jun 03           1656.38
(3 States)
7.28% 2019               Interest   Jun 03          19292.00
SDL 09.32%, 2023         Interest   Jun 04            139.80
(HIMACHAL PRADESH)
SDL 09.33%, 2023         Interest   Jun 04            233.25
(RAJASTHAN)
SDL 09.35%, 2023         Interest   Jun 04            392.70
(3 States)
SDL 09.37%, 2023         Interest   Jun 04           2469.00
(6 States)
SDL 09.38%, 2023         Interest   Jun 04            703.50
(TAMIL NADU)
SDL 09.39%, 2023         Interest   Jun 04           1784.10
(2 States)
5.59% 2016               Interest   Jun 04           1677.00
6.13% 2028               Interest   Jun 04           3371.50
-------------------------------------------------------------   
    
    ISSUANCES
PAPER               DATE          AMOUNT (IN BLN RUPEES)
Tbills             June 4                140
Bonds              June 6                160
    
    LIQUIDITY
    * The Reserve Bank of India said on Monday it accepted all
41 bids for 141.55 billion rupees ($2.40 billion) at its one-day
repo auction, through which it injects liquidity into the
banking system. 
    * Indian banks' refinancing with RBI falls to 281.38 billion
rupees. 
    * Indian banks' cash balances with RBI rise to 3.30 trillion
rupees. 

 (Compiled by Swati Bhat)

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