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Indian FX/debt factors to watch - Oct 18

Source : REUTERS
Last Updated: Thu, Oct 18, 2012 03:10 hrs

GLOBAL MARKETS ROUNDUP

* Asian shares rose to their highest in seven months on Thursday, buoyed by a surge in U.S. housing starts that has followed other positive economic data, helping to further ease worries about a slowdown in global growth.

* The euro and Australian dollar hovered near multi-week highs on Thursday, but could see a setback in their two-day rally if a slew of economic reports on China renew worries about the health of the world's second biggest economy.

* Brent crude prices fell on Wednesday as rising U.S. crude oil and gasoline stockpiles kept tepid global demand for petroleum in focus, while a weaker dollar and worries about supply disruptions limited losses.

* U.S. Treasury debt prices fell for a third consecutive day on Wednesday after stronger-than-expected housing data pointed to an improving economy and after Spain avoided a ratings downgrade, reducing demand for safe-haven U.S. debt.

LOCAL MARKETS CLOSE ON OCT. 17

* BSE index 18,610.77 points (+0.18 pct)

* NSE index 5,660.25 points (+0.22 pct)

* Rupee 52.87/88 per dollar (52.87/88)

* 10-year bond yield 8.15 pct (8.15 pct)

* 5-year OIS rate 6.99 pct (6.99 pct)

* 1-year OIS rate 7.60 pct (7.61 pct)

* Call money 8.05/8.10 pct (8.05/8.10 pct)

OVERNIGHT NEWS

* The Australian and Indian prime ministers held talks on Wednesday that could pave the way for Australia to sell uranium to energy-hungry India, after Canberra lifted a long-standing export ban that had strained bilateral relations.

* Indian banks' advances rose at a much slower pace in the first half of the current fiscal year compared with the same period last year as the economy slowed, with bankers doubting the loan growth could miss the central bank's full year projection.

KEY FACTORS/EVENTS TO WATCH

* TMT Finance and Investment India 2012 conference in Mumbai starting at 0430 GMT. The event, organised by TMT Finance publication, has bankers from Citigroup, Stanchart, BofA Merrill, ANZ Banking Group and DBS Group among speakers.

MAJOR DEALS/EXTERNAL COMMERCIAL BORROWINGS

* Tata Steel's jumbo project financing of 259 billion rupees ($4.7 billion) funding a 6 mtpa greenfield steel plant is likely to be launched into syndication next month. The launch will follow a formal nod from the company's board, which might also take a final decision on whether the financing should be launched in one go or in two phases. (IFR)

* Power Grid Corp of India priced its new bonds at 8.85 percent, 10 bps inside the upper cap of 8.95 percent. (IFR)

* Damodar Valley Corp may be hitting the market with its 26 billion rupees 15-year sale only in November or December, according to bankers. The company, whose bonds are guaranteed by the government, had asked banks last week to indicate price for its potential sale. (IFR)

* L&T Shipbuilding invited bids for its 25-billion-rupees dual-tranche sale on Thursday. Banks were asked to bid for a five-year tranche having a call after three and four years. The second tranche has staggered redemptions from 11th year onward until year 15 and is callable after 10 years. (IFR)

USD/INR NDFs (NY closing prices)

* For up-to-date prices, double click

Close Open High Low Volume

53.01-05 53.14 53.14 53.04 Moderate

FII INVESTMENTS-EQUITIES (Net dollars)

Oct. 17* $6.72 mln#

Month-to-date** $2.09 bln

Year-to-date** $17.95 bln

* Provisional NSE data

** Source: Data as per custodial filing as on Oct. 17 on SEBI website.

#(As per Reuters conversion, $1 = 52.9 rupees)

FII INVESTMENTS-DEBT (Net Dollars) *

Debt

Oct. 16 $32.66 mln

Month-to-date $309.76 mln

Year-to-date $5.11 bln

* Source: Data as per custodial filing as on Oct. 17 on SEBI website.

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

Oct. 17

Foreign Banks 8.69 bln

Public Sector Banks -5.65 bln

Private Sector Banks -14.32 bln

Mutual Funds 8.04 bln

Others 2.16 bln

Primary Dealers 1.09 bln

Source: Clearing Corp of India Ltd

WEEKLY GOVERNMENT BOND AUCTIONS (In rupees) MATURITIES DATE AMOUNT Bond Sale Oct. 19 130 bln

INFLOWS SDL 07.99%, 2016 Interest Oct. 18 61.22 (KERALA) SDL 08.04%, 2016 Interest Oct. 18 19.34 (ARUNACHAL PRADESH) SDL 08.80%, 2022 Interest Oct. 18 33.00 (MANIPUR) SDL 09.03%, 2021 Interest Oct. 19 225.75 (HARYANA) SDL 09.04%, 2021 Interest Oct. 19 219.41 (3 States) SDL 09.05%, 2021 Interest Oct. 19 678.75 (2 States) SDL 09.06%, 2021 Interest Oct. 19 453.00 (2 States) SDL 09.08%, 2021 Interest Oct. 19 681.00 (WEST BENGAL) SDL 09.09%, 2021 Interest Oct. 19 1249.88 (2 States) 10.71% 2016 Interest Oct. 19 4819.50 91 days T-Bill Redemption Oct. 19 80110.00 364 days T-Bill Redemption Oct. 19 40050.00 7.32% 2014 Interest Oct 20 6588.00 For detailed table, see:

LIQUIDITY, as of Oct. 17

* The Reserve Bank of India (RBI) accepted on Wednesday all 30 bids for 862.60 billion rupees at its one-day repo auction, through which it injects liquidity into the banking system. It said it did not get any bids at its reverse repo auction, through which it absorbs excess liquidity from the banking system.

* Indian banks' refinancing with RBI falls to 168.17 billion rupees.

* Indian banks' cash balances with RBI fall to 3.06 trillion rupees. (Compiled by Swati Bhat)




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