December 8, 2014 / 3:22 AM / 3 years ago

Indian FX/debt factors to watch - Dec 8

GLOBAL MARKETS ROUNDUP
    * Asian stocks eked out gains on Monday in wake of much
stronger-than-expected U.S. employment numbers, although
sobering data highlighted the sluggishness in the region's key
economies and tempered gains. 
    * The dollar started trade on Monday at its highest in over
five years against a basket of major currencies, having rallied
hard late last week on the back of a surprisingly robust U.S.
employment report. 
    * Oil prices fell by more than a dollar on Monday to near
their lowest levels since 2009 after Morgan Stanley cut its
price forecast for Brent, saying oversupply will likely peak
next year with OPEC deciding not to cut output. 
    * U.S. Treasuries prices dropped on Friday after data showed
U.S. employers hired more workers in November than during any
month in nearly three years, boosting expectations for the U.S.
Federal Reserve to raise interest rates by mid-2015. 
                    
    LOCAL MARKETS PREVIOUS CLOSE
    * BSE index 28,458.10 (down 0.37 pct)
    * NSE index 8,538.30 (down 0.30 pct)
    * Rupee 61.77/78 per dlr (61.9250/9350)
    * 10-year bond yield 7.94 pct (7.97 pct)
    * 5-year OIS rate 7.13 pct (7.17 pct)
    * 1-year OIS rate 7.78 pct (7.80 pct)
    * Call money 8.00/8.05 pct (7.40/7.50 pct)
    
    KEY FACTORS/EVENTS TO WATCH
    * India will release its July-September balance of payments
and current account data. There is no fixed date/time for
release of this data.
    
    KEY DEALS
    * State-owned lender Andhra Bank is selling Basel
III-compliant Additional Tier 1 perpetual non-call 10-year
offering, a month after scrapping the fundraising. Bids for the
10 billion rupees ($161.7 million) AT1 sale have to be submitted
on Monday. (IFR)
    * Tata Motors on Friday priced a 4 billion rupees offering
of seven-year bonds via sole arranger Axis Bank. The bonds pay a
coupon of 9.02 percent and will settle on Dec. 11. The unsecured
offering is split into a base size of 3 billion rupees and a
greenshoe of 1 billion rupees.
                     
    USD/INR NDFs (NY closing prices) 
    For up-to-date prices, double click 
     Open     High      Low        Close      Volume
    62.13    62.30     62.13      62.25-31      N/A
 
    FII INVESTMENTS-EQUITIES (Net dollars)
    Dec 5*                      -$17.71 mln 
    Month-to-date**             $650.80 mln
    Year-to-date**               $16.58 bln
    * Provisional NSE data         
    ** Source: Data as per latest custodial filing as on Dec. 5
on NSDL's website.

    FII INVESTMENTS-DEBT (Net Dollars)  Debt
    Dec. 4                      $275.43 mln                 
    Month-to-date                 $1.16 bln
    Year-to-date                 $25.60 bln
    * Source: Data as per latest custodial filing as on Dec. 5
on NSDL's website.
                              
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees) 
                                         Dec. 5 
    Foreign Banks                        5.61 bln
    Public Sector Banks                -11.07 bln
    Private Sector Banks                17.09 bln
    Mutual Funds                         6.86 bln
    Others                              -1.25 bln
    Primary Dealers                    -17.25 bln
    
    INFLOWS
===========================================================
Instrument               Payment    Date           Amount
                                               (mln rupees)
===========================================================
SDL 08.43%, 2020         Interest   Dec 08            421.50
(KARNATAKA)
SDL 08.44%, 2020         Interest   Dec 08            833.45
(3 States)
SDL 08.59%, 2021         Interest   Dec 08            429.50
(TAMIL NADU)
SDL 08.60%, 2021         Interest   Dec 08           1354.50
(3 States)
SDL 08.61%, 2021         Interest   Dec 08            301.35
(JAMMU & KASHMIR)
SDL 09.02%, 2021         Interest   Dec 08            721.60
(3 States)
SDL 09.03%, 2021         Interest   Dec 08            361.20
(KERALA)
SDL 09.04%, 2021         Interest   Dec 08            565.00
(WEST BENGAL)
SDL 09.05%, 2021         Interest   Dec 08             67.88
(UTTARAKHAND)
SDL 09.06%, 2021         Interest   Dec 08            226.50
(JAMMU & KASHMIR)
6.49% 2015               Interest   Dec 08          11716.09
8.33% 2036               Interest   Dec 08          35819.00
SDL 08.09%, 2020         Interest   Dec 09            734.11
(2 States)
SDL 08.10%, 2020         Interest   Dec 09             40.50
(TRIPURA)
SDL 08.11%, 2020         Interest   Dec 09            608.25
(2 States)
SDL 08.26%, 2019         Interest   Dec 09            949.90
(5 States)
SDL 08.27%, 2019         Interest   Dec 09            413.50
(HARYANA)
SDL 08.30%, 2019         Interest   Dec 09            207.50
(PUDUCHERRY)
SDL 08.32%, 2019         Interest   Dec 09            648.96
(MADHYA PRADESH)
SDL 08.35%, 2019         Interest   Dec 09            253.50
(BIHAR)
8.27% 2020               Interest   Dec 09          16540.00
===========================================================
For the monthly inflows see:
 =================================================
==========
    
    ISSUANCES
State loans            At least 81.8 bln rupees    Dec. 9
Tbills                   130 bln rupees            Dec. 10
    
    LIQUIDITY
    * The Reserve Bank of India said on Friday it accepted all
nine bids for 22.01 billion rupees ($355.83 million) at its
three-day repo auction, through which it injects liquidity into
the banking system. 
    * Indian banks' refinancing with RBI falls to 23.77 billion
rupees. 
    * Indian banks' cash balances with RBI fall to 3.38 trillion
rupees. 

 (Complied by Swati Bhat)

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