August 13, 2014 / 3:03 AM / 3 years ago

Indian FX/debt factors to watch - Aug 13

GLOBAL MARKETS ROUNDUP
    * Asian shares struggled on Wednesday after Wall Street
snapped a two-day rally with the crisis in Ukraine sapping
investor confidence as it threatens a fragile economic recovery
in Europe. 
    * The euro nursed only modest losses early on Wednesday,
having regained quite a bit of ground as markets got over a
closely watched report that showed a slump in German economic
sentiment. 
    * Brent crude oil fell to a 13-month low on Tuesday as
increased OPEC production helped dampen concerns over potential
supply disruptions in Iraq and Libya. 
    * U.S. Treasury debt yields rose on Tuesday as traders sold
some bond holdings in advance of a combined $40 billion in
longer-dated supply, which some traders worry might not lure
strong demand due to their low yields. 
                    
    LOCAL MARKETS PREVIOUS CLOSE
    * BSE index 25880.77(up 1.42 pct)
    * NSE index 7727.05(up 1.33 pct)
    * Rupee 61.08/09 per dlr (61.19/20)
    * 10-year bond yield 8.85 pct (8.82 pct)
    * New 10-year bond yield 8.62 pct (8.59 pct) 
    * 5-year OIS rate 8.14 pct (8.12 pct)
    * 1-year OIS rate 8.50 pct (8.48 pct) 
    * Call money 8.00/8.10 pct (8.60/70 pct)
    
    FACTORS TO WATCH
    * Mon-Thu: Q1 External debt and July imports/ exports/trade
             deficit (there is no fixed date)
    
 
    OVERNIGHT NEWS
    * India's industrial output slowed in June, though expanding
for a third straight month, its best run since last September,
boosting Asia's third-largest economy as it struggles to emerge
from the longest spell of sub-par growth in a
quarter-century. 
    * India's consumer price inflation accelerated
to a two-month high of 7.96 percent in July, driven up by
surging prices for vegetables, fruit and milk, government data
showed on Tuesday. 
    
      
    KEY DEALS
    * India is preparing legislation to promote Islamic banking
as a way to make its financial markets more inclusive and
provide new capital-raising opportunities to companies. 
     
    USD/INR NDFs (NY closing prices)
For up-to-date prices, double click 
     Open     High     Low       Close      Volume
      61.50  61.67    61.48     61.56-58     N/A
    
    FII INVESTMENTS-EQUITIES (Net dollars)
    Aug 12*                         $60.71 mln
    Month-to-date**              -$84.14 mln
    Year-to-date**                $12.07 bln
    * Provisional NSE data         
    ** Source: Data as per the latest custodial filing as on
Aug 12 on SEBI website.

    FII INVESTMENTS-DEBT (Net Dollars) INFIX INFII01* Debt
    Aug 11                       -$171.20 mln
    Month-to-date                -$966.62 bln
    Year-to-date                  $13.28 bln
    * Source: Data as per latest custodial filing as on Aug 12
on SEBI website.
                              
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees) 
                                           Aug 11
    Foreign Banks                        -17.42 bln
    Public Sector Banks                   16.20 bln
    Private Sector Banks                  -4.14 bln
    Mutual Funds                           4.16 bln
    Others                                 4.20 bln
    Primary Dealers                          -3 bln
    Source: Clearing Corp of India Ltd
    
    INFLOWS 
===========================================================
Instrument               Payment    Date           Amount
                                               (mln rupees)
===========================================================
SDL 09.60%, 2023         Interest   Aug 14            667.63
(MAHARASHTRA)
SDL 09.65%, 2023         Interest   Aug 14            482.50
(KARNATAKA)
SDL 09.71%, 2023         Interest   Aug 14            873.90
(ANDHRA PRADESH)
SDL 09.82%, 2023         Interest   Aug 14            245.50
(RAJASTHAN)
SDL 09.87%, 2023         Interest   Aug 14            246.75
(PUNJAB)
SDL 09.89%, 2023         Interest   Aug 14            247.25
(HARYANA)
91 days T-Bill           Redemption Aug 14          94000.00
182 days T-Bill          Redemption Aug 14          60000.00
===========================================================
 For the full table of inflows, see: 
===========================================================
    
    ISSUANCES
 DEBT/PAPER             AMOUNT                 DATE
Treasury Bills       150 bln rupees            Aug. 13
Long dated bonds     80 bln rupees             Aug. 14
             
    LIQUIDITY
    * The Reserve Bank of India (RBI) on Tuesday said it will
conduct a seven-day term repo variable rate auction for 150
billion Indian rupees(2.46 billion US dollar) on
Wednesday. 
    * Indian banks' refinancing with RBI rises to 285.5 billion
rupees. 
    * Indian banks' cash balances with RBI falls to 3.22 trln
rupees. 

(1 US dollar = 61.0800 Indian rupee)

 (Compiled by Gaurav Pai)

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