Indian FX/debt factors to watch - Oct 8
GLOBAL MARKETS ROUNDUP
* Asian stocks edged lower on Monday and other riskier assets such as commodities fell as investors remained cautious about the outlook for the global economy and corporate earnings despite better-than-expected U.S. jobs numbers at the end of last week.
* The dollar held steady versus the yen on Monday and hovered near a two-week high hit late last week after a surprise drop in the U.S. unemployment rate soothed investor concerns about the U.S. economy's outlook.
* Oil prices fell in volatile trading on Friday and posted weekly losses as a fragile global economy and uncertainty about Europe's debt crisis offset support from a better-than-expected U.S. employment report.
* U.S. Treasuries prices fell on Friday as an unexpected drop in the U.S. jobless rate helped boost expectations for an improving economy and as dealers prepared for new long-dated debt sales next week.
LOCAL MARKETS CLOSE ON OCT. 6
* BSE index
18,938.46 points (-0.63 pct)
* NSE index
5,746.95 points (- 0.70 pct)
51.85/86 per dollar (52.74/75)
* 10-year bond yield 8.16 pct (8.15 pct) * 5-year OIS rate 7.00 pct (6.97 pct) * 1-year OIS rate 7.60 pct (7.58 pct) * Call money
7.10/7.20 pct (7.75/7.80 pct)
* India looks set to begin dismantling a complex web of regulatory requirements that throttle its infrastructure growth, with plans to set up a special body this week to speed up projects in a sector seen as vital to reviving economic momentum.
* India's capital markets regulator on Saturday permitted loss-making listed firms to raise funds by selling shares, making it easier for such firms to meet their capital needs.
KEY EVENTS TO WATCH
* An Indian ministerial panel will meet (starting at 0700 GMT) to make its final recommendations on a plan to ask older telcos to pay for their existing airwave holding at a price to be derived in an upcoming 2G auction.
MAJOR DEALS/EXTERNAL COMMERCIAL BORROWINGS
* Etihad Airways, Abu Dhabi's flag carrier which has expanded globally through stake purchases in firms like Air Berlin
and Virgin Australia , will look to extend its geographical reach to India and other Asian markets.
* Family-owned Indian conglomerate Hinduja Group is the front-runner to acquire Houghton International, a U.S. producer of metalworking fluids and other chemicals, following a $1.15 billion bid, according to two people familiar with the matter.
* Carlyle Group LP
has raised $841 million in India's fourth-biggest equity deal this year by selling its remaining 3.7 percent stake in the country's top mortgage lender, Housing Development Finance Corp Ltd (HDFC), said a source with direct knowledge of the deal.
* State explorer Oil India plans to raise $100 million in offshore loans by December to part-fund its stake buy in Carrizo Oil & Gas's Niobrara shale asset. Oil India and Indian Oil Corp have jointly bought a 30 percent stake in the Niobrara shale acreage in Colorado for $82.5 million. (IFR)
USD/INR NDFs (NY closing prices)
* For up-to-date prices, double click
Close Open High Low Volume 52.22-27 52.15 52.26 51.90 High
FII INVESTMENTS-EQUITIES (Net dollars)
Oct. 5* $822.68 mln# Month-to-date** $645.07 mln Year-to-date** $16.50 bln
* Provisional NSE data
** Source: Data as per custodial filing as on Oct. 5 on SEBI website.
#(As per Reuters conversion, $1 = 51.9 rupees)
FII INVESTMENTS-DEBT (Net Dollars)
* Debt Oct. 4 $70.15 mln Month-to-date $263.26 mln Year-to-date $5.06 bln
* Source: Data as per custodial filing as on Oct. 5 on SEBI website.
GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
Oct. 5 Foreign Banks -17.21 bln Public Sector Banks 23.25 bln Private Sector Banks 0.95 bln Mutual Funds -0.15 bln Others 13.10 bln Primary Dealers -19.94 bln
Source: Clearing Corp of India Ltd
WEEKLY GOVERNMENT BOND AUCTIONS (In rupees) MATURITIES DATE AMOUNT Bond Sale Oct. 5 130 bln INFLOWS SDL 07.65%, 2019 Interest Oct 08 191.25 (WEST BENGAL) SDL 08.20%, 2019 Interest Oct 08 123.00 (PUNJAB) SDL 08.21%, 2019 Interest Oct 08 205.25 (RAJASTHAN) SDL 08.22%, 2019 Interest Oct 08 904.20 (2 States) SDL 08.23%, 2019 Interest Oct 08 617.25 (GUJARAT) SDL 08.24%, 2019 Interest Oct 08 103.53 (2 States) SDL 08.27%, 2019 Interest Oct 08 723.63 (MAHARASHTRA) SDL 08.36%, 202 Interest Oct 08 418.00 (PUNJAB) SDL 08.36%, 2021 Interest Oct 08 1337.60 (2 States) SDL 08.39%, 2021 Interest Oct 08 209.75 (UTTARAKHAND) SDL 08.47%, 2019 Interest Oct 08 635.25 (UTTAR PRADESH) SDL 08.49%, 2019 Interest Oct 08 424.50 (BIHAR) SDL 08.50%, 2018 Interest Oct 08 340.00 (KERALA) SDL 08.55%, 2018 Interest Oct 08 90.54 (JAMMU & KASHMIR) SDL 08.89%, 2018 Interest Oct 08 444.50 (UTTAR PRADESH) SDL 07.77%, 2019 Interest Oct 09 349.65 (2 States) SDL 08.31%, 2017 Interest Oct 09 300.12 (MAHARASHTRA) SDL 08.32%, 2017 Interest Oct 09 811.20 (2 States) SDL 08.40%, 2017 Interest Oct 09 840.00 (WEST BENGAL) 6.30% 2023 Interest Oct 09 4095.00 SDL 09.17%, 2022 Interest Oct 11 618.98 (2 States) S09.20%, 2022 Interest Oct 11 690.00 (ANDHRA PRADESH) 7.83% 2018 Interest Oct 11 25056.00 7.80% 2021 Interest Oct 11 26520.00For detailed table, see: LIQUIDITY, as of Oct. 5
* The Reserve Bank of India (RBI) on Friday accepted a combined 220.7 billion rupees worth of bids at its twin three-day repo auctions, through which it injects liquidity into the banking system. It also accepted all 16 bids for 202.30 billion rupees at its reverse repo auction, through which it absorbs excess liquidity from the banking system.
* Indian banks' refinancing with RBI falls to 42.79 billion rupees.
* Indian banks' cash balances with RBI fall to 3.24 trillion rupees.
(Compiled by Swati Bhat)
Keywords: MARKETS INDIA FX DEBT/PREOPENER