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Indian FX/debt factors to watch - July 14
July 14, 2015 / 3:10 AM / 2 years ago

Indian FX/debt factors to watch - July 14

GLOBAL MARKETS ROUNDUP
    * Asian shares rose on Tuesday on hopes that Greece's
conditional bailout agreement would bring to an end that
country's debt crisis, though caution kept broad gains in check.
 
    * The dollar strengthened against the yen and euro on
Tuesday after Greece finally agreed to a debt deal with its
creditors and allowed the market focus to shift back towards
U.S. and European yield differentials. 
    * Oil prices dipped early on Tuesday as the market waited
for an announcement on a nuclear deal between Iran and six
global powers that could see an easing of sanctions against
Tehran and a gradual increase in its oil exports. 
    * U.S. Treasury yields rose on Monday after Greek and euro
zone leaders reached a deal that is likely to keep Greece in the
single currency and as a large corporate bond deal weighed on
the market. 
         
    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 27,961.19 (up 1.08 pct)
    * NSE index 8,459.65 (up 1.19 pct)
    * Rupee 63.51/52 per dollar (63.39/40)
    * 10-year bond yield 7.87 pct (7.80 pct)
    * 5-year OIS rate 7.20 pct (7.14 pct)
    * 1-year OIS rate 7.45 pct (7.41 pct)
    * Call money 7.00/7.05 pct (7.00/7.05 pct)
    
    KEY DEALS
    * India's Power Finance Corp plans to raise 3 billion rupees
selling tax-free bonds maturing in 10, 15 and 20 years, three
merchant bankers told Newsrise on Monday. The state-run company
will offer the 10-year bonds at an annual coupon of 7.16
percent, the 15-year bonds at 7.39 percent and the 20-year notes
at 7.45 percent, based on calculations of similar maturity
government bonds, bankers added. 
    
    OVERNIGHT NEWS
    * Higher food prices pushed India's retail inflation to an
eight-month high in June, government data showed on Monday,
dampening hopes of an interest rate cut by the central bank in
the near future. 
    
    FACTORS/EVENTS TO WATCH
    * India is likely to release trade data for June between
July 13-17. There is no fixed date or time for the data release.
    
    * India will release WPI data for June at noon (0630 GMT).
        
    Non-deliverable forwards Pvs Day
    For live prices see 
    Open        High         Low         Close
    63.75      63.86        63.74       63.70-73
        
    FII INVESTMENTS-EQUITIES (Net dollars) 
    July 13*                         $83.12 mln
    Month-to-date**                 $445.31 mln
    Year-to-date**                    $6.79 bln
    * Provisional NSE data         
    ** Source: Data as per latest custodial filing as on July 13
on NSDL's website. 
    
    FII INVESTMENTS-DEBT (Net Dollars) INFII INFII01*
    July 13                          -$33.85 mln
    Month-to-date                     $49.38 mln
    Year-to-date                       $8.05 bln
    Source: Data as per latest custodial filing as on July 13
on NSDL's website, debt utilisation status data, NewsRise
calculation 

    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)     
                                                           
                                           July 13 
    Foreign Banks                        -36.74 bln
    Public Sector Banks                   44.48 bln
    Private Sector Banks                  -4.94 bln
    Mutual Funds                           6.40 bln
    Others                                 8.84 bln
    Primary Dealers                      -18.04 bln
    Constituents                           0.10 bln
    
    INFLOWS
============================================================
Instrument               Payment    Date           Amount
                                               (mln rupees)
============================================================
SDL 06.65%, 2019         Interest   Jul 14            332.50
(TAMIL NADU)
SDL 06.70%, 2019         Interest   Jul 14            502.50
(KARNATAKA)
SDL 06.73%, 2019         Interest   Jul 14           1108.69
(MAHARASHTRA)
SDL 08.10%, 2025         Interest   Jul 14            405.00
(MADHYA PRADESH)
SDL 08.12%, 2025         Interest   Jul 14            446.60
(2 States)
SDL 08.13%, 2025         Interest   Jul 14           1626.00
(4 States)
SDL 08.14%, 2025         Interest   Jul 14           1261.70
(3 States)
SDL 08.15%, 2025         Interest   Jul 14            631.63
(2 States)
SDL 08.16%, 2025         Interest   Jul 14            938.40
(2 States)
SDL 08.62%, 2016         Interest   Jul 14             96.98
(RAJASTHAN)
SDL 08.65%, 2016         Interest   Jul 14            403.66
(5 States)
SDL 08.66%, 2016         Interest   Jul 14            129.90
(MADHYA PRADESH)
=============================================================
For the full table of June inflows, see: 
============================================================= 
    
    ISSUANCES
    PAPER               AMOUNT            DATE
OMO sale             100 bln rupees      July 14 
State loans        77.75 bln rupees      July 14
Treasury bills       140 bln rupees      July 15
Dated papers         150 bln rupees      July 17
    
    LIQUIDITY OPERATIONS ON JULY 13
    * India cbank says repo bids fall to 24.77 bln rupees
 
    * Indian banks' refinancing with RBI falls to 24.56 bln
rupees 
    * India cbank says banks' cash balances at 3.56 trln rupees
 

 (Compiled by Swati Bhat)

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