Indian FX/Debt Factors to Look for on Jan 15

  • Rate this Story
  • 0
  • 0

January 15, 2013 5:12 PM EST

GLOBAL MARKETS ROUNDUP

* With large deficits providing fiscal support through social transfers and subsidies, the economy has become

segmented, characterized by weak exports and investment on one hand but relatively strong imports and consumption
 on the other.

* The dollar languished at 11-month lows against the euro on Tuesday after comments from the head of the
 Federal Reserve suggested the central bank was in no hurry to withdraw monetary stimulus from
 the world's biggest economy.

* Brent crude oil rose by more than 1 percent toward $112 a barrel on Monday, boosted by a weak U.S. dollar,
 strength in gasoline and diesel markets, and as investors weighed a statement from Saudi Arabia disputing
 claims it has altered its output policy.

* U.S. government debt prices inched higher on Monday with benchmark yields near their lowest  levels in about
 1-1/2 weeks on the Federal Reserve's purchase of long-dated bonds and safe-haven bids due to weaker stock prices.

LOCAL MARKETS PREVIOUS CLOSE

* BSE index 19,906.41 (+1.23)

* NSE index 6,024.05 (+1.22 pct)

* Rupee 54.4950/5050 per dollar (54.7550/7650)

* 10-year bond yield 7.80 pct (7.87 pct)

* 5-year OIS rate 7.12 pct (7.18 pct)

* 1-year OIS rate 7.48 pct (7.53 pct)

* Call money 8.00/8.10 pct (7.90/7.95 pct)

OVERNIGHT NEWS

* The Reserve Bank of India said on Monday that newly appointed Deputy Governor Urjit Patel will look after the bank's

monetary policy department and financial markets among other functions.

* The Indian government has extended a 2 percent interest payment subsidy on rupee export credits to March 31, 2014 for

certain employment-oriented sectors, the central bank said in a statement on Monday.

* India's central bank has opened a special window to provide exporters with dollar credit by allowing banks to borrow

the greenback from the central bank under a swap facility.

KEY FACTORS/EVENTS TO WATCH

* Bankers meet RBI deputy governor ahead of the central bank's policy on Jan. 29. The meeting is closed door, starting

at 0930 GMT.

MAJOR DEALS/ACQUISITIONS

* Pfizer Inc is considering buying India's Agila Specialties, the injectable-medicines unit of Indian drug

supplier Strides Arcolab Ltd, for a possible price of $2 billion, Bloomberg reported on Monday.

* Gail (India) signed a US$300m six-year term loan with 10 banks last month. Nine lenders committed close to US$150m
 to the loan in general syndication and commitments were scaled back significantly. Sole mandated lead arranger
 and bookrunner Sumitomo Mitsui Banking Corp took a ticket of US$200m. (IFR)

USD/INR NDFs (NY closing prices)

* For up-to-date prices, double click

Close Open High Low Volume

54.75-78 54.87 54.83 54.74 High

FII INVESTMENTS-EQUITIES (Net dollars)

Jan. 14* $112.13 mln#

Month-to-date** $1.75 bln

Year-to-date** $1.75 bln

* Provisional NSE data

** Source: Data as per custodial filing as on Jan. 14 on SEBI website.

#(As per Reuters conversion, $1 = 54.50 rupees)

FII INVESTMENTS-DEBT (Net Dollars) *

Debt

Jan. 11 -$214.62 mln

Month-to-date -$260.37 mln

Year-to-date -$260.40 mln

* Source: Data as per custodial filing as on Jan. 14 on SEBI website.

GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)

Jan. 14

Foreign Banks 36.36 bln

Public Sector Banks -17.74 bln

Private Sector Banks -13.88 bln

Mutual Funds 12.80 bln

Others -3.42 bln

Primary Dealers -14.11 bln

Source: Clearing Corp of India Ltd

MONEY MARKET INFLOWS

Instrument Payment Date Amount

8.07% 2017 Interest Jan 15 27841.50

8.19% 2020 Interest Jan 16 30303.00

SDL 07.61%, 2016 Interest Jan 18 266.54

(8 States)

SDL 08.67%, 2017 Interest Jan 18 216.75

(KARNATAKA)

SDL 08.80%, 2022 Interest Jan 18 8.80

(ARUNACHAL PRADESH)

SDL 08.83%, 2022 Interest Jan 18 529.80

(GUJARAT)

SDL 08.84%, 2022 Interest Jan 18 1215.50

(3 States)

SDL 08.85%, 2022 Interest Jan 18 1508.93

(4 States)

SDL 08.88%, 2022 Interest Jan 18 444.00

(UTTAR PRADESH)

SDL 08.89%, 2022 Interest Jan 18 222.25

(JAMMU & KASHMIR)

SDL 08.91%, 2022 Interest Jan 18 668.25

(WEST BENGAL)

91 days T-Bill Redemption Jan 18 80210.00

182 days T-Bill Redemption Jan 18 50000.00

For the entire table click on:

ISSUANCES

PAPER AMOUNT DATE

Dated bonds 120 bln rupees Jan. 18

T bills 100 bln rupees Jan. 16

LIQUIDITY

* The Reserve Bank of India (RBI) said on Monday it accepted all 33 bids for 968.30 billion rupees at its one-day repo

auction, through which it injects cash into the banking system.

It also accepted the sole bid for 100 million rupees at its reverse repo auction, through which it absorbs cash from the

system.

* Indian banks' refinancing with RBI rises to 219.62 billion rupees.

* Indian banks' cash balances with RBI rises to 2.91 trillion rupees.

  • Rate this Story
  • 0
  • 0
Copyright 2012 Thomson Reuters. All rights reserved.

Join the Conversation

IBTimes TV
E-Newsletters

We value your privacy. Your email address will not be shared.