March 7, 2014 / 2:52 AM / 3 years ago

Indian FX/debt factors to watch - March 7

GLOBAL MARKETS ROUNDUP
*  Asian stocks edged up and the dollar index slumped on Friday,
as investors looked toward the U.S. nonfarm payrolls report
later in the session for confirmation that the U.S. employment
picture has improved. 
*  The euro hovered near a two-month high against the dollar
early on Friday following a relief rally when the European
Central Bank left its interest rates unchanged. 
*  U.S. oil rose on Thursday after falling to near three-week
lows as traders reconsidered the geopolitical risk posed by
worsening diplomatic relations over Russia's intervention in
Crimea. 
* U.S. Treasury debt prices fell on Thursday as fears over a war
in Ukraine abated, helping drive benchmark yields to their
highest levels in a week, and as traders prepared for Friday's
key nonfarm payrolls report. 
                    
    LOCAL MARKETS PREVIOUS CLOSE
    * BSE index 21,513.87 (up 1.11 pct)
    * NSE index 6,401.15 (up 1.15 pct)
    * Rupee 61.11/12 per dlr (61.75/76)
    * 10-year bond yield 8.79 pct (8.84 pct)  
    * 5-year OIS rate 8.51 pct (8.53 pct) 
    * 1-year OIS rate 8.67 pct (8.66 pct) 
    * Call money 7.05/7.10 pct (8.50/8.60 pct)
    
    OVERNIGHT NEWS
    * India cbank says to conduct 14-day term repo auction for
390 billion rupees ($6.32 billion) on Friday. 
             
    LOANS/DEALS
    * Reliance Globalcom, the international unit of India's
Reliance Communications Ltd, is no longer up for sale
and may raise debt or equity to fund its expansion plans,
Globalcom's newly installed chief executive said.
 
    * Two state-owned oil companies have agreed to take a 10
percent stake in Indian Oil Corp at a price almost 17 percent
below Thursday's closing price, according to a government
source. (IFR)
    * A chunk of Reliance Industries' five-year financing
maturing in July 2016 is on offer in the secondary market at
99.55 percent of par, sources said. The piece is offered at an
all-in of around 170bp via a margin of 150bp over Libor, sources
said.
(IFR)
    FACTORS TO WATCH
    *RBI governor Rajan to hold press meet in Delhi after board
meet. (1305 IST)
    * RBI to release forex reserves data.
                     
    USD/INR NDFs (NY closing prices) 
    For up-to-date prices, double click 
     Close      Open     High      Low     Volume        
     61.27-30  61.60    61.50     61.20    High
             
    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    March 6                     $207.84 mln
    Month-to-date**              $286.62 mln
    Year-to-date**               $640.20 mln
    * Provisional NSE data         
    ** Source: Data as per the latest custodial filing as on
March 6 on SEBI website.
    #(As per Reuters conversion, ($1 = 61.25 Indian rupees))
             
    FII INVESTMENTS-DEBT (Net Dollars)  *   
                                    Debt             
    March 5                        $36.47 mln
    Month-to-date                  $1.01 bln
    Year-to-date                   $4.90 bln
    * Source: Data as per latest custodial filing as on March 6
on SEBI website.
   
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees) 
                                          March 6
    Foreign Banks                         6.26 bln
    Public Sector Banks                  -4.24 bln
    Private Sector Banks                 15.42 bln
    Mutual Funds                         -3.55 bln
    Others                               -4.42 bln
    Primary Dealers                      -9.48 bln
    Source: Clearing Corp of India Ltd
    
    
    MONEY MARKET INFLOWS
===============================================================
Instrument               Payment    Date            Amount 
                                                 (mln rupees) 
==============================================================
SDL 08.62%, 2021         Interest   Mar 07           1055.95
(4 States)
SDL 08.63%, 2021         Interest   Mar 07            863.00
(ANDHRA PRADESH)
SDL 08.92%, 2022         Interest   Mar 07           1248.80
(2 States)
SDL 08.93%, 2022         Interest   Mar 07            223.25
(HARYANA)
SDL 08.94%, 2022         Interest   Mar 07            670.50
(GUJARAT)
SDL 08.95%, 2022         Interest   Mar 07           1118.75
(MAHARASHTRA)
SDL 08.96%, 2022         Interest   Mar 07            254.02
(PUNJAB)
SDL 08.97%, 2022         Interest   Mar 07            448.50
(ANDHRA PRADESH)
SDL 08.99%, 2022         Interest   Mar 07            899.00
(2 States)
SDL 09.01%, 2022         Interest   Mar 07             90.10
(JAMMU & KASHMIR)
SDL 08.39%, 2020         Interest   Mar 08           1572.31
(3 States)
SDL 08.40%, 2020         Interest   Mar 08            336.00
(PUNJAB)
SDL 08.41%, 2020         Interest   Mar 08            420.50
(UTTAR PRADESH)
SDL 08.16%, 2019         Interest   Mar 10             10.46
(MEGHALAYA)
SDL 08.25%, 2019         Interest   Mar 10            515.63
(2 States)
SDL 08.28%, 2018         Interest   Mar 10            316.78
(PUNJAB)
SDL 08.28%, 2019         Interest   Mar 10            621.00
(TAMIL NADU)
SDL 08.30%, 2018         Interest   Mar 10            391.76
(WEST BENGAL)
SDL 08.30%, 2019         Interest   Mar 10            518.75
(MAHARASHTRA)
SDL 08.31%, 2019         Interest   Mar 10           1271.43
(2 States)
SDL 08.32%, 2019         Interest   Mar 10            624.00
(UTTAR PRADESH)
SDL 08.37%, 2019         Interest   Mar 10            251.05
(JHARKHAND)
SDL 08.40%, 2019         Interest   Mar 10             84.00
(HIMACHAL PRADESH)
SDL 08.43%, 2018         Interest   Mar 10            480.51
(GUJARAT)
SDL 08.43%, 2019         Interest   Mar 10            829.13
(WEST BENGAL)
SDL 08.45%, 2018         Interest   Mar 10            633.75
(ANDHRA PRADESH)
SDL 08.46%, 2019         Interest   Mar 10           1649.20
(MAHARASHTRA)
SDL 08.47%, 2019         Interest   Mar 10             87.66
(JAMMU & KASHMIR)
SDL 08.48%, 2019         Interest   Mar 10            515.92
(TAMIL NADU)
SDL 08.51%, 2020         Interest   Mar 10             42.55
(GOA)
SDL 08.52%, 2020         Interest   Mar 10           1256.26
(3 States)
SDL 08.53%, 2020         Interest   Mar 10            426.50
(MAHARASHTRA)
SDL 08.54%, 2020         Interest   Mar 10            789.10
(2 States)
SDL 08.57%, 2019         Interest   Mar 10           1285.50
(UTTAR PRADESH)
SDL 08.75%, 2019         Interest   Mar 10            234.06
(JHARKHAND)
SDL 08.78%, 2019         Interest   Mar 10            498.27
(BIHAR)
SDL 08.80%, 2018         Interest   Mar 10            792.00
(WEST BENGAL)
SDL 08.89%, 2019         Interest   Mar 10            849.00
(ASSAM)
7.40% 2035               Interest   Mar 10          19240.00
===============================================================
 For the full table for March inflows, see: (ID:nL3N0M0163)
===============================================================
    LIQUIDITY
    * The Reserve Bank of India said on Thursday it accepted all
33 bids for 224.60 billion rupees at its one-day repo auction,
through which it injects liquidity into the banking system.
 
    * Indian banks' refinancing with RBI rises to 298.12 billion
rupees. 
        * Indian banks' cash balances with RBI at 3.30 trillion
rupees. 

 (Compiled by Abhishek Vishnoi)

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