Indian FX/Debt Factors to Look for on Jan. 31

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January 31, 2013 7:20 PM EST

GLOBAL MARKETS ROUNDUP

* Asian shares pulled back from recent rallies on Thursday but optimism about global growth supported sentiment as the

Federal Reserve kept its stimulus policy, while the euro steadied on signs the region was stabilising from the debt

crisis.

* The euro held near a 14-month peak against the dollar and a 2-1/2 year high versus the yen on Thursday, having risen

solidly as investors expect central banks in both the United States and Japan to keep an aggressive easing stance.

* Brent crude touched a three-month high on Wednesday after better-than-expected economic data out of Europe spurred

optimism about the global economy before oil pared gains with surprisingly weak U.S. growth numbers.

* U.S. Treasury debt prices traded little changed on Wednesday after the Federal Reserve said economic growth will

proceed at a moderate pace and unemployment will gradually decline under appropriate monetary policy.

LOCAL MARKETS PREVIOUS CLOSE

* BSE index 20,005.00 (+0.07)

* NSE index 6,055.75 (+0.10)

* Rupee 53.30/31 per dollar (53.76/77)

* 10-year bond yield 7.89 pct (7.85 pct)

* 5-year OIS rate 7.25 pct (7.17 pct)

* 1-year OIS rate 7.62 pct (7.57 pct)

* Call money 7.75/7.85 pct (7.95/8.05 pct)

FACTORS TO WATCH

* India will release fiscal deficit figures for April-December period around 3.00 IST (10.30 GMT).

* India is likely to release the infrastructure output data for December on Thursday or Friday for which no date or timing

is fixed. The data is usually released on the last working day.

* Parthasarathi Shome, who headed a panel to suggest recommendations in controversial tax issues and is currently an

advisor to Finance Minister P Chidambaram, will be at an industry event in New Delhi on Thursday. Events starts at 0730 GMT.

OVERNIGHT NEWS

* India's government does not currently plan additional taxes or curbs on imports of gold as it waits to see the impact

of recent tax hikes, a top finance ministry official told Reuters on Wednesday.

MAJOR DEALS/ACQUISITIONS

* State-owned NHPC will open its three-tranche issue of up to INR15bn (USD280m) today at 10am India time for bidding. The

company has invited 16 arrangers to bid for the sale which will close at 3pm India time on January 31.

* Indian conglomerate Reliance Industries (Baa2/BBB) last night printed the first US dollar senior perpetual bond out of

India and at a yield of 5.875 percent also achieved the lowest coupon for a rated US dollar perp in Asia to date. (IFR)

USD/INR NDFs (NY closing prices)

* For up-to-date prices, double click

Close Open High Low Volume

53.43-49 53.60 53.64 53.45 High

FII INVESTMENTS-EQUITIES (Net dollars)

Jan. 30* $170.05 mln#

Month-to-date** $3.83 bln

Year-to-date** $3.83 bln

* Provisional NSE data

** Source: Data as per custodial filing as on Jan. 30 on SEBI website.

#(As per Reuters conversion, $1 = 53.30 rupees)

FII INVESTMENTS-DEBT (Net Dollars) *

Debt

Jan. 29 -$19.56 mln

Month-to-date $609.06 mln

Year-to-date $609.10 mln

* Source: Data as per custodial filing as on Jan. 30 on SEBI website.

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

Jan. 30

Foreign Banks -24.89 bln

Public Sector Banks 26.25 bln

Private Sector Banks -16.94 bln

Mutual Funds 5.44 bln

Others 4.84 bln

Primary Dealers 5.40 bln

Source: Clearing Corp of India Ltd

MONEY MARKET INFLOWS (mln rupees)

Instrument Payment Date Amount

SDL 06.20%, 2013 Interest Jan 30 2476.60

(28 States)

SDL 06.35%, 2013 Interest Jan 30 1987.01

(19 States)

SDL 07.76%, 2019 Interest Jan 30 388.00

(KARNATAKA)

SDL 07.77%, 2019 Interest Jan 30 388.50

(2 States)

For the entire table click on:

ISSUANCES

Instrument Amount Date

Dated bonds 120 bln rupees Feb. 1

LIQUIDITY

* The RBI said on Wednesday it accepted all 42 bids for 1.04 trillion rupees at its one-day repo auction, through which it

injects cash into the banking system. It said it did not get any bids at its reverse repo auction, through which it absorbs cash

from the system.

* Indian banks' refinancing with RBI rises to 207.97 billion rupees.

* Indian banks' cash balances with RBI rise to 3.12 trillion rupees.

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