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Indian FX/debt factors to watch - Nov 20
November 20, 2013 / 3:10 AM / 4 years ago

Indian FX/debt factors to watch - Nov 20

GLOBAL MARKETS ROUNDUP
    * The dollar was under pressure but global shares found
support on Wednesday after Federal Reserve Chairman Ben Bernanke
reiterated the Fed's commitment to easy policy, cementing
expectations its stimulus will stay for the rest of year.
 
    * Pressure on the yen showed no signs of letting up on
Wednesday, with the euro climbing to a four-year peak and the
dollar holding onto overnight gains even after more dovish
comments from top Federal Reserve officials. 
    * Brent futures tumbled by more than $1 a barrel on Tuesday
as talks this week between world powers and Iran could lead to
an easing of sanctions against the oil-rich country.Ÿ 
    * U.S. Treasuries prices fell on Tuesday as investors pared
their bond holdings on weakness in European bonds and
competition from corporate bond supply. 
                    
    LOCAL MARKETS PREVIOUS CLOSE 
    * BSE index 20,890.82 (up 0.19 pct)
    * NSE index 6,203.35 (up 0.23 pct)
    * Rupee 62.36/37 per dlr (62.41/42 per dlr)
    * Benchmark bond yield 9.01 pct (9.02 pct) 
    * 5-year OIS rate 8.42 pct (8.45 pct) 
    * 1-year OIS rate 8.55 pct (8.57 pct) 
    * Call money 8.75/8.80 pct (8.65/8.75 pct)
     
    OVERNIGHT NEWS
    * IntercontinentalExchange Group said on Tuesday it
would buy the Singapore Mercantile Exchange (SMX) in a $150
million deal that gives it a foothold in trading and clearing in
Asia, the main engine of growth for the commodities market.
 
    * India has decided to cancel a scandal-tainted helicopter
deal with Anglo-Italian firm AgustaWestland, three sources said,
drawing a line under a dispute that has embarrassed a government
heading into elections due next year. 
        
    EVENTS/FACTORS TO WATCH
    * Asian Development Bank chief Rajat Nag plans to speak on
challenges facing India,  including the recent pullback in
growth, currency weakness, and capital outflows
       
    MAJOR DEBT SALES/LOANS/MERGERS
    * State-owned Power Grid Corp of India plans to launch a
follow-on offering of 76 bln rupees ($1.2 bln) in the first week
of December. 
    * ICICI Bank (Baa2/BBB -) India's largest private sector
lender, last night priced its $750 mln 144A/ Reg S 5.5-year
bonds flat to its own curve. 
    * The International Finance Corp the financing arm of the
World Bank, has revised pricing guidance for its upcoming
euroclearable three-year rupee-denominated bonds to a yield in
the 7.75% area from initial price talk of a 7.875 pct -8.000 pct
yield. 
    * Mortgage lender, HDFC priced a 5 bln one-year via HSBC at
9.96 pct. 
    * LIC Housing Finance also priced a 2 bln rupees zero coupon
five-year bond sale with a put after 18 months via Axis Bank and
I-Sec PD. 
    * Export-Import Bank of India priced a 5 bln rupees
five-year, with arrangers including ICICI Bank, ING Vysya, HDFC
Bank, Yes Bank and Trust Capital at 9.70 pct. 
    * Private placement of the tax-free bonds by Indian Railway
Finance Corp, the financing arm of the Indian Railways. Bids
were invited for a minimum 5 bln rupees sale by 3 pm India time.
 

               
    USD/INR NDFs (NY closing prices)    
     For up-to-date prices, double click        
      Close      Open     High      Low     Volume        
     62.85-90    62.72    62.90     62.75    High
        
    FII INVESTMENTS-EQUITIES (Net dollars)                      
                        
    Nov. 19*                  $162.60 mln
    Month-to-date**           $1.04 bln
    Year-to-date**            $17.24 bln
    * Provisional NSE data         
    ** Source: Data as per custodial filing as on Nov. 19 on
SEBI website.
    #(As per Reuters conversion, $1 = 62.4 Indian rupees)     
             
    FII INVESTMENTS-DEBT (Net Dollars)  *   
                                    Debt             
    Nov. 18                      -$73.85 mln
    Month-to-date               -$799.20 mln
    Year-to-date                -$8.67 bln
    * Source: Data as per custodial filing as on Nov. 19 on SEBI
website.
    
    MONEY MARKET INFLOWS
===========================================================
Instrument               Payment    Date           Amount

===========================================================
7.54% FRB 2014           Interest   Nov 20           1885.00 
7.16% 2023               Interest   Nov 20          25060.00 
SDL 07.77%, 2018         Interest   Nov 21            135.98 

SDL 07.80%, 2018         Interest   Nov 21            780.00 

SDL 07.85%, 2018         Interest   Nov 21            392.50 

SDL 07.86%, 2018         Interest   Nov 21            589.50 

SDL 08.75%, 2016         Interest   Nov 21            413.98 

SDL 08.77%, 2016         Interest   Nov 21            421.00 

SDL 08.90%, 2022         Interest   Nov 21            445.00 

SDL 08.91%, 2022         Interest   Nov 21            334.13 

SDL 08.92%, 2022         Interest   Nov 21            446.00 

SDL 08.93%, 2022         Interest   Nov 21            446.50 

SDL 08.94%, 2022         Interest   Nov 21            308.43 

SDL 08.97%, 2022         Interest   Nov 21            560.63 

SDL 08.98%, 2022         Interest   Nov 21             89.80 

SDL 09.01%, 2022         Interest   Nov 21            901.00 

11.50% 2015              Interest   Nov 21           2047.29 
SDL 07.57%, 2023         Interest   Nov 22            408.78 

SDL 07.58%, 2023         Interest   Nov 22            530.60 

SDL 07.59%, 2023         Interest   Nov 22            759.00 

SDL 07.60%, 2023         Interest   Nov 22            456.00 

SDL 07.63%, 2023         Interest   Nov 22            381.50 

91 days T-Bill           Redemption Nov 21         113545.80 
182 days T-Bill          Redemption Nov 21          50015.00 
SDL 09.12%, 2022         Interest   Nov 23           1368.00 

SDL 09.13%, 2022         Interest   Nov 23            136.95 

SDL 09.15%, 2022         Interest   Nov 23            457.50 

SDL 09.17%, 2022         Interest   Nov 23            687.75 

SDL 09.19%, 2021         Interest   Nov 23             32.17 

SDL 09.21%, 2021         Interest   Nov 23            115.13 

SDL 09.22%, 2021         Interest   Nov 23            479.44 

SDL 09.22%, 2022         Interest   Nov 23            691.50 

SDL 09.23%, 2021         Interest   Nov 23            638.25 

SDL 09.25%, 2021         Interest   Nov 23            693.75 

SDL 09.28%, 2021         Interest   Nov 23            464.00 

SDL 09.33%, 2021         Interest   Nov 23             81.64 

12.60% 2018              Interest   Nov 23           7958.08 
For the full table see: 
   
       
    GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
                                Nov. 19  
    Foreign Banks                       14.61 bln
    Public Sector Banks                 -5.33 bln
    Private Sector Banks                 3.65 bln
    Mutual Funds                       -11.30 bln 
    Others                               0.65 bln
    Primary Dealers                     -2.28 bln
    Source: Clearing Corp of India Ltd
    
    LIQUIDITY
    * The Reserve Bank of India said on Tuesday it accepted all
64 bids for 407.70 billion rupees at its repo auction, through
which it injects liquidity into the banking system. It did not
receive any bids for its one-day reverse repo auction, through
which it absorbs excess liquidity. 
    * Indian banks' refinancing with RBI falls to 424.72 billion
rupees. 
    * Indian banks' cash balances with RBI little changed at
3.14 trillion rupees.

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