Indian FX/debt factors to watch - Nov 13

Tue Nov 12, 2013 9:33pm EST

GLOBAL MARKETS ROUNDUP
    * Asian shares sagged and the dollar wobbled on Wednesday as
investors pondered mixed signals from U.S. Federal Reserve
officials about when the U.S. central bank would start to pare
its asset-buying stimulus. 
    * The dollar held firm on Wednesday, staying near a
two-month high against the yen as investors bet that the U.S.
Federal Reserve is on course to start reducing its stimulus as
early as December. 
    * U.S. oil futures fell more than $2 a barrel on Tuesday,
posting a fresh four-and-a-half-month low, amid speculation the
U.S. Federal Reserve may ease up on its monetary stimulus
program. 
    * U.S. Treasury debt prices fell on Tuesday after a sale of
3-year notes in the aftermath of a surprisingly strong reading
on job growth in October. 
                    
    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 20,281.91 (-1.02 pct)
    * NSE index 6,018.05 (-1.00 pct)
    * Rupee 63.71/72 per dlr (63.24/25 per dlr)
    * 10-year bond yield 9.05 pct (8.95 pct) 
    * 5-year OIS rate 8.54 pct (8.43 pct) 
    * 1-year OIS rate 8.68 pct (8.58 pct) 
    * Call money 8.70/8.75 pct (8.75/8.80 pct)
     
    OVERNIGHT NEWS
    * Credit ratings organisations from five countries are
launching a new global agency, touting it as an alternative to
the Big Three agencies which they say no longer meet the needs
of the new globalised world. ARC Ratings said the agency would
launch in London as a joint venture between CPR of Portugal,
CARE Rating of India, GCR of South Africa, MARC of Malaysia, and
Brazil's SR Rating. 
    * India's central bank will move forward to Thursday from
Friday an auction of 150 billion rupees ($2.37 billion) of
government bonds, it said on Tuesday. 
    * India's industrial production growth picked up
to 2 percent year on year in September, from a revised reading
of 0.4 percent in August, driven by an uptick in export and
domestic orders, government data showed on Tuesday.
 
    * India's annual consumer price inflation 
quickened more than expected to 10.09 percent in October from
9.84 percent in September, driven by food and fuel prices,
government data showed on Tuesday. 
    
    EVENTS/FACTORS TO WATCH
    * Finance Minister to attend an industry event.
    * India money supply data.
   
    MAJOR DEBT SALES/LOANS/MERGERS
    * Ten banks have been mandated on the $1 billion 12-month
bridge loan for Oil India, which is also raising another $300
million through a bilateral loan. 
    * Both bridge loans for ONGC Videsh and Oil India will be
closed as club deals, sources said. ONGC Videsh is teaming up
with Oil India to buy a 10 percent stake in a Mozambique gas
field from Videocon Industries. 
       
    USD/INR NDFs (NY closing prices)    
     For up-to-date prices, double click        
      Close      Open     High      Low     Volume        
     64.65-70    64.45    64.85     64.50    High
        
    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    Nov. 12*                   $54.68 mln
    Month-to-date**           $585.34 mln
    Year-to-date**            $16.78 bln
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on Nov. 12 on
SEBI website.
    #(As per Reuters conversion, $1 = 63.6375 Indian rupees)    
             
    FII INVESTMENTS-DEBT (Net Dollars)  *   
                                    Debt             
    Nov. 11                      -$95.63 mln
    Month-to-date               -$576.77 mln
    Year-to-date                -$8.45 bln
    * Source: Data as per custodial filing as on Nov. 12 on SEBI
website.
    
    MONEY MARKET INFLOWS
===========================================================
Instrument               Payment    Date           Amount
                                               (mln rupees)
===========================================================
SDL 08.39%, 2017         Interest   Nov 15            209.75 
(TAMIL NADU) 
SDL 08.40%, 2017         Interest   Nov 15            378.00 
(2 States) 
SDL 08.48%, 2017         Interest   Nov 15            890.40 
(WEST BENGAL) 
SDL 08.55%, 2017         Interest   Nov 15            427.50 
(UTTAR PRADESH) 
SDL 08.69%, 2017         Interest   Nov 15            347.60 
(KERALA) 
6.07% 2014               Interest   Nov 15          12140.00 
8.35% 2022               Interest   Nov 15          18370.00 
9.15% 2024               Interest   Nov 15          42090.00 
91 days T-Bill           Redemption Nov 15         170907.50 
364 days T-Bill          Redemption Nov 15          50000.00
For the full table see: 
   
    
    ISSUANCES
    * The Reserve Bank of India will sell 120 billion rupees
($1.92 billion) of treasury bills on Nov. 13, which includes 60
billion rupees each of 91-day and 364-day t-bills, it said in a
release on Friday. 
    * The Reserve Bank of India will sell 150 billion rupees of
government bonds on Nov. 14. 

        
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                Nov. 12  
    Foreign Banks                        -6.98 bln
    Public Sector Banks                  11.18 bln
    Private Sector Banks                 5.6 bln
    Mutual Funds                         -4.14 bln 
    Others                               2.2 bln
    Primary Dealers                      -7.88 bln
    Source: Clearing Corp of India Ltd
    
       LIQUIDITY
    * The Reserve Bank of India said on Tuesday it accepted the
sole bid for 10 million rupees at its one-day reverse repo
auction, through which it absorbs excess liquidity from the
banking system. 
    * Indian banks' refinancing with RBI rises to 433.8 billion
rupees. 
    * Indian banks' cash balances with RBI fall to 3.15 trillion
rupees. 

 (Compiled by Neha Dasgupta; Editing by Sunil Nair)
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