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Indian FX/debt factors to watch - May 30
May 30, 2013 / 3:02 AM / 5 years ago

Indian FX/debt factors to watch - May 30

GLOBAL MARKETS ROUNDUP
    * Asian shares and the dollar were pressured on Thursday,
undermined by an overnight pullback in global equities as
investors assessed the implications of a potential softening of
the Federal Reserve's massive monetary stimulus programme.
 
    * The dollar remained under pressure in early Asian trading
on Thursday, after tumbling more than one percent against the
yen in the previous session, on growing expectations that the
U.S. Federal Reserve will maintain its stimulus for the time
being. 
    * Oil futures slid nearly 2 percent on Wednesday, as U.S.
equity markets slid lower and investors worried about an
uncertain demand outlook for the global economy following weak
growth forecasts for China. 
    *  U.S. Treasury debt prices gained on Wednesday after
expectations that the Federal Reserve could pare back its
massive stimulus pushed yields to 13-month highs in early
trading. 
           
    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 20,147.64 (-0.07 pct)
    * NSE index 6,104.30 (-0.11 pct)
    * Rupee 56.17/18 per dollar (55.9550/9650)
    * 10-year bond yield 7.39 pct (7.36 pct) 
    * 5-year OIS rate 6.87 pct (6.83 pct) 
    * 1-year OIS rate 7.13 pct (7.12 pct) 
    * Call money 7.25/7.30 pct (7.20/7.30 pct)
            
     FACTORS TO WATCH
    * Reserve Bank of India Governor Duvvuri Subbarao is
scheduled to deliver a lecture in the western city of Ahmedabad
at 1130 GMT. 
                        
    MAJOR DEALS/ACQUISITIONS
    * The $125 mln seven-year term loan for Amtek Auto is likely
to be wrapped up soon with the drawdown of the facility
tentatively planned for June 6. 
    * A 160 mln share offer for sale in Jaypee Infratech is set
to raise 5.6 bln rupees ($100 mln) at the indicative price of
35.05 rupees. 

      
      USD/INR NDFs (NY closing prices)   
    * For up-to-date prices, double click       
      Close      Open      High     Low      Volume       
    56.58-60    56.62     56.68    56.50      High
                   
    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    May 29*                   $114.6 mln#
    Month-to-date**             $3.61 bln
    Year-to-date**             $14.92 bln
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on May 29 on SEBI
website. 
    #(As per Reuters conversion, $1 = 56.2 rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *   
                                 Debt             
    May 28                    -$6.6 mln
    Month-to-date              $1.58 bln
    Year-to-date               $4.93 bln
    * Source: Data as per custodial filing as on May 29 on SEBI
website.
        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                 May 29 
    Foreign Banks                      -48.70 bln
    Public Sector Banks                 61.24 bln
    Private Sector Banks                37.26 bln
    Mutual Funds                        -1.55 bln 
    Others                              -7.16 bln
    Primary Dealers                    -41.09 bln
    Source: Clearing Corp of India Ltd
   
    MONEY MARKET INFLOWS                         (mln rupees) 
Instrument               Payment    Date              Amount  
10.00% 2014              Interest   May 30           1166.63 
10.25% 2021              Interest   May 30          13434.33 
9.81% 2013               Redemption May 30         115395.50 
91 days T-Bill           Redemption May 30          84327.75 
364 days T-Bill          Redemption May 31          50000.00 
    For full table: 
    
    ISSUANCE
SECURITY             AMOUNT (IN BLN RUPEES)       DATE
Bonds                   150                       May 31
Inflation indexed        10                       June 4
Federal debt              
    
    LIQUIDITY
    * The Reserve Bank of India accepted all 26 bids for 848.60
billion rupees at its one-day repo auction, through which it
injects liquidity into the banking system. It did not receive
any bids at its one-day reverse repo auction, through which it
absorbs excess liquidity from the banking
system.Ÿ 
    * Indian banks' refinancing with RBI rises to 246.4 billion
rupees. 
    * Indian banks' cash balances with RBI rise to 2.91 trillion
rupees. 

 (Compiled by Archana Narayanan)

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