February 5, 2015 / 3:02 AM / 3 years ago

Indian FX/debt factors to watch - Feb 5

GLOBAL MARKETS ROUNDUP
    * Asian stocks and the euro handed back gains and slipped on
Thursday after the European Central Bank took a hard line stance
on Greece's debt and dampened optimism towards a resolution to
the saga. 
    * The euro took a spill early on Thursday after the European
Central Bank said it will no longer accept Greek bonds as
collateral for its liquidity operations, dealing a blow to
Athens which is seeking debt relief from euro zone lenders.
 
    * U.S. crude edged up to near $49 a barrel in early Asian
trade on Thursday, rebounding slightly after losing 9 percent in
one of its biggest daily routs ever as inventories rose to a
record high. 
    * The European Central Bank's surprise move to stop
accepting Greek bonds as collateral to raise cash caused a late
safe haven rally in the U.S. Treasuries on Wednesday, erasing
initial losses tied to encouraging U.S. and European economic
data. 
         
    LOCAL MARKETS PREVIOUS CLOSE
    * BSE index 28,883.11 (down 0.40 pct)
    * NSE index 8,723.70 (down 0.38 pct)
    * Rupee 61.75/76 per dlr (61.6650/6750)
    * 10-year bond yield 7.72 pct (7.73 pct)
    * 5-year OIS rate 6.99 pct (6.97 pct)
    * 1-year OIS rate 7.66 pct (7.65 pct)
    * Call money 6.90/7.00 pct (8.00/8.05 pct)
    
    FACTORS TO WATCH
    * Earnings: Tata Motors, Allahabad Bank,
UCO Bank, Indian Overseas Bank, Arvind Ltd
, Ballarpur Industries, CEAT, Great
Eastern Shipping, Godrej Consumer Products,
Hindustan Copper, IRB Infrastructure Developers
, Jubilant FoodWorks, Petronet LNG,
PTC India, Ramco Cements 
                                 
    OVERNIGHT NEWS
    * French telecoms group Orange has explored
purchasing some assets in Africa including ones owned by India's
top mobile phone carrier Bharti Airtel, as the company
seeks to strengthen its business in Africa, Bloomberg reported,
citing people familiar with the matter. 
    * India's postal department and the billionaire founder of
Sun Pharmaceutical Industries are among 41 applicants
seeking permits to run a new category of banks planned to bring
basic banking services within the reach of millions.
 
    * Falling oil prices have been a major windfall for India:
Just weeks ago it faced failing to meet fiscal deficit targets,
but can now expect a budget that not only hits its targets, but
also provides extra cash to support reform. 
    * Subrata Roy, the boss of Indian conglomerate Sahara, is in
a New Delhi prison on contempt-of-court charges and needs to
post $1.6 billion in bail to get out. To help raise the money,
Sahara is in talks to refinance its overseas hotels, including
New York's Plaza. 
    * India's Bharti Airtel has posted a better than
expected quarterly profit, as India's biggest telecoms network
operator by users and revenue added more subscribers, boosting
data and voice call traffic. 
                                          
    KEY DEALS
    * HDFC Bank Ltd, India's largest lender by market
value, launched a share offer in the United States and India on
Wednesday to raise up to $1.6 billion. 
    * India's Canara Bank likely to raise up to 15 billion
rupees ($242.39 million) through issue of Basel III compliant
perpetual additional tier I bonds, three merchant bankers said
on Wednesday. 
                                       
    USD/INR NDFs (NY closing prices)
    For up-to-date prices, double click 
     Open     High      Low        Close      Volume
    62.06    62.22     62.07      62.19-22      NA 
     
    FII INVESTMENTS-EQUITIES (Net dollars)
    Feb. 4*                    -$13.57 mln 
    Month-to-date**              $0.74 bln 
    Year-to-date**               $2.84 bln 
    * Provisional NSE data         
    ** Source: Data as per latest custodial filing as on Feb. 4
on NSDL's website.

    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees) 
                                         Feb. 4
    Foreign Banks                      -22.21 bln
    Public Sector Banks                 41.74 bln
    Private Sector Banks               -20.78 bln
    Mutual Funds                        -4.70 bln
    Others                               8.81 bln
    Primary Dealers                     -2.86 bln
    
     INFLOWS
    ===========================================================
    Instrument               Payment    Date           Amount
                                                   (mln rupees)
    ===========================================================
    SDL 07.32%, 2015         Interest   Feb 05          91.50
    (KERALA)
    SDL 07.95%, 2017         Interest   Feb 05          79.50
    (JAMMU & KASHMIR)
    SDL 07.95%, 2019         Interest   Feb 05         596.25
    (2 States)
    SDL 07.99%, 2019         Interest   Feb 05         799.00
    (MAHARASHTRA)
    SDL 08.01%, 2019         Interest   Feb 05         190.00
    (JHARKHAND)
    SDL 08.02%, 2019         Interest   Feb 05         802.00
    (WEST BENGAL)
    SDL 08.03%, 2019         Interest   Feb 05         602.25
    (UTTAR PRADESH)
    364 days T-Bill          Redemption Feb 05       60000.00
    91 days T-Bill           Redemption Feb 06      145000.00
    SDL 07.24%, 2019         Interest   Feb 06         236.74
    (3 States)
    SDL 07.26%, 2019         Interest   Feb 06         435.60
    (TAMIL NADU)
    SDL 07.27%, 2019         Interest   Feb 06         834.23
    (2 States)
    SDL 07.29%, 2019         Interest   Feb 06         364.50
    (RAJASTHAN)
    SDL 08.66%, 2023         Interest   Feb 06         246.81
    (HARYANA)
    SDL 08.67%, 2023         Interest   Feb 06        1127.10
    (2 States)
    SDL 08.68%, 2023         Interest   Feb 06          434.00
    (GUJARAT)
    SDL 08.69%, 2023         Interest   Feb 06          217.25
    (BIHAR)
    SDL 08.71%, 2023         Interest   Feb 06          217.75
    (PUNJAB)
    SDL 08.72%, 2023         Interest   Feb 06         1090.00
    (ANDHRA PRADESH)
    11.43% 2015              Interest   Feb 07         4117.26
    ===========================================================
    For the monthly inflows see: 
    ===========================================================
    
    ISSUANCES
    Bonds auction                           130 billion rupees
    
    LIQUIDITY
    * The Reserve Bank of India said on Wednesday it accepted
all 12 bids for 37.05 billion rupees ($600.97 million) at its
one-day repo auction, through which it injects liquidity into
the banking system. 
    * Indian banks' refinancing with RBI falls to 32.97 billion
rupees. 
    * Indian banks' cash balances with RBI rise to 3.42 trillion
rupees. 
($1 = 61.8828 Indian rupees)

 (Compiled by Dipika Lalwani)

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