Indian FX/debt factors to watch - Feb 6

Published 06-02-2015, 08:26 am
Updated 06-02-2015, 08:30 am
© Reuters.  Indian FX/debt factors to watch - Feb 6

GLOBAL MARKETS ROUNDUP

* Asian shares edged higher in early trade on Friday and oil prices continued to rebound, even as investors remained wary ahead of the key U.S. nonfarm payrolls report for January later in the session. MKTS/GLOB

* The euro on Friday held onto gains made during the latest swing back to optimism in the Greek debt saga, while the market awaited U.S. non-farm payrolls later in the day for further cues. FRX/

* U.S. crude rose as much as $1 in early Asian trade on Friday, continuing a rebound from near six-year lows plumbed last week, but rising global inventories could cap gains. O/R

* U.S. Treasuries prices fell on Thursday as traders pared bond holdings ahead of the January payrolls report, though market losses were limited due to tension between Greece and its euro zone partners in their debt negotiation. US/

LOCAL MARKETS PREVIOUS CLOSE

* BSE index .BSESN 28,850.97 (down 0.11 pct)

* NSE index .NSEI 8,711.70 (down 0.14 pct)

* Rupee INR=D2 61.73/74 per dlr (61.75/76)

* 10-year bond yield IN084024G=CC 7.70 pct (7.72 pct)

* 5-year OIS rate INRSMONM5YFIX= 6.97 pct (6.99 pct)

* 1-year OIS rate INRANONM1YFIX= 7.67 pct (7.66 pct)

* Call money INROND= 8.70/8.75 pct (6.90/7.00 pct)

FACTORS TO WATCH

* Indian PM Narendra Modi to meet economists at policy commission

* Finance Minister Arun Jaitley and Minister of State for Finance Jayant Sinha at event organised by Maharashtra Government.

* India bank lending and foreign reserves data at 1130 GMT

* Earnings: Tata Steel TISC.NS , Jet Airways India JET.NS , Apollo Tyres APLO.NS , GAIL India GAIL.NS , NMDC NMDC.NS , IDBI Bank IDBI.NS , Dena Bank DENA.NS , Punjab & Sind Bank PUNA.NS , Balrampur Chini Mills BACH.NS , Rashtriya Chemicals & Fertilizers RSTC.NS , Chambal Fertilisers & Chemicals CHMB.NS , Kalpataru Power Transmission KAPT.NS , Sun TV Network SUTV.NS , Tata Chemicals TTCH.NS , TV Today Network TVTO.NS

OVERNIGHT NEWS

* Tata Motors Ltd TAMO.NS , India's biggest automaker by revenue, posted a fall in quarterly profit, missing analyst estimates, due to losses in its domestic business, unfavourable foreign exchange rates and a dip in sales at its Jaguar Land Rover unit. ID:nL4N0VF66P

* Reserve Bank of India said foreign investors can re-invest coupons of government bonds on the entire $30 billion limit, effective immediately. ID:nI8N0RJ011

* Falling oil prices and rate cuts in Europe are giving emerging market central banks the green light to ease their own monetary policies but investors are fearful that political pressure may be prompting some shifts in stance. ID:nL6N0VE50M

* Foreign investment banks are showing signs they will be more choosy about bidding for roles to help manage government share sales after India's largest ever equity offering of $3.6 billion left them splitting a fee of just one rupee. ID:nL4N0VD5ML

* Indian conglomerate Sahara Group said on Thursday that a letter intended to support a $2 billion transaction with a U.S.-based former broker was forged, dealing a major setback to the group's efforts to secure bail for its jailed boss, Subrata Roy. ID:nL1N0VF1TJ

* Some Chinese companies face unusually tough security reviews in India and are further hampered by visa restrictions, Beijing's ambassador said, slowing the pace of investment despite Prime Minister Narendra Modi's promise to roll out the red carpet. ID:nL4N0VE486

* HDFC Bank's HDBK.NS $324 million share offering in India was more than 4 times oversubscribed, according to bankers and investors, a strong reception that is expected to encourage a rush of domestic equity sales from other companies. ID:nL4N0VF3I4

KEY DEALS

* Indian state-run Hindustan Aeronautics IPO-HIAE.NS has won a 10.9 billion rupee ($177 million) deal to supply the Indian Air Force with 14 new turboprop Do-228 aircraft, the ministry of defence said on Thursday. ID:nL6N0VF3Z9

* Ant Financial Services Group, an affiliate of China's Alibaba Group Holding Ltd BABA.N , has agreed to buy 25 percent of Indian payment services provider One97 Communications, tapping into the country's smartphone and online industry boom. ID:nL4N0VF43L

* India's Bajaj Finance Ltd. plans to raise 2.50 billion rupees ($40.49 million) selling commercial papers maturing at the end of March, three merchant bankers said on Thursday. NFR

* State-owned Rural Electrification Corp has priced its new 10-year rupee-denominated bond offering to yield 8.27 percent. REC will raise 23.25 billion rupees ($376 million) from the issue, which has a base size of 5 billion rupees. IFR

USD/INR NDFs (NY closing prices)

For up-to-date prices, double click PNDF

Open

High

Low

Close

Volume

62.13

62.07

62.01

62.00-03

NA

FII INVESTMENTS-EQUITIES (Net dollars)

Feb. 5*

-$4.44 mln

Month-to-date**

$733.95 mln

Year-to-date**

$2.84 bln

* Provisional NSE data

** Source: Data as per latest custodial filing as on Feb. 5 on NSDL's website.

FII INVESTMENTS-DEBT (Net Dollars) INFII INFII01* Debt

Feb. 5*

-$7.45 mln

Month-to-date

$573.71 mln

Year-to-date

$4.49 bln

* Source: Data as per latest custodial filing as on Feb. 5 on NSDL's website, Reuters calculation

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

Feb. 5

Foreign Banks

-21.52 bln

Public Sector Banks

5.84 bln

Private Sector Banks

5.79 bln

Mutual Funds

8.95 bln

Others

1.94 bln

Primary Dealers

-1.00 bln

INFLOWS

===========================================================

Instrument

Payment

Date

Amount

(mln rupees)

===========================================================

91 days T-Bill

Redemption Feb 06

145000.00

SDL 07.24%, 2019

Interest Feb 06

236.74

(3 States)

SDL 07.26%, 2019

Interest Feb 06

435.60

(TAMIL NADU)

SDL 07.27%, 2019

Interest Feb 06

834.23

(2 States)

SDL 07.29%, 2019

Interest Feb 06

364.50

(RAJASTHAN)

SDL 08.66%, 2023

Interest Feb 06

246.81

(HARYANA)

SDL 08.67%, 2023

Interest Feb 06

1127.10

(2 States)

SDL 08.68%, 2023

Interest Feb 06

434.00

(GUJARAT)

SDL 08.69%, 2023

Interest Feb 06

217.25

(BIHAR)

SDL 08.71%, 2023

Interest Feb 06

217.75

(PUNJAB)

SDL 08.72%, 2023

Interest Feb 06

1090.00

(ANDHRA PRADESH)

11.43% 2015

Interest Feb 07

4117.26

===========================================================

For the monthly inflows see: ID:nL4N0VC1PB

===========================================================

ISSUANCES

Bonds auction

130 billion rupees

LIQUIDITY

* The Reserve Bank of India said on Thursday it accepted all 10 bids for 24.64 billion rupees ($398.13 million) at its one-day repo auction, through which it injects liquidity into the banking system. ID:nS8N0TP01W

* Indian banks' refinancing with RBI rises to 37.26 billion r

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