Indian FX/debt factors to watch - March 27

  • Reuters
  • Stock Market News
Indian FX/debt factors to watch - March 27
Credit: © Reuters.

GLOBAL MARKETS ROUNDUP

* Asian stocks crawled higher on Friday as upbeat U.S. economic data helped revive some risk appetite lost following air strikes on Houthi militants in Yemen, while the dollar rebounded. MKTS/GLOB

* A sudden turnaround in the dollar's fortunes overnight saw the currency trading broadly higher early in Asia on Friday, but still on track to end softer for a second straight week. FRX/

* Oil prices fell over a percentage point on Friday as traders estimated that the threat of a disruption to world crude supplies from Saudi Arabia-led air strikes in Yemen was low. O/R

* U.S. Treasury prices fell and benchmark 10-year note yields rose above 2 percent on Thursday after the government saw tepid demand for a $29 billion sale of seven-year notes, a day after a weak five-year note auction. US/

LOCAL MARKETS PREVIOUS CLOSE

* BSE index .BSESN 27,457.58 (down 2.33 pct)

* NSE index .NSEI 8,342.15 (down 2.21 pct)

* Rupee INR=D2 62.67/68 per dollar (62.3250/3350)

* 10-year bond yield IN084024G=CC 7.80 pct (7.77 pct)

* 5-year OIS rate INRSMONM5YFIX= 7.08 pct (7.06 pct)

* 1-year OIS rate INRANONM1YFIX= 7.56 pct (7.56 pct)

* Call money INROND= 7.25/7.30 pct (6.90/6.95 pct)

FACTORS TO WATCH

* Indian Prime Minister, others including company officials to attend a conference on energy

* India to release weekly foreign reserves data

OVERNIGHT NEWS

* India's top three mobile phone network operators have spent a combined $13.6 billion in a government auction of airwaves to secure almost 80 percent of the spectrum on offer, reinforcing their positions in the world's second-biggest mobile market. ID:nL3N0WS40X

* India's GAIL is looking to buy seven liquefied natural gas (LNG) cargoes for delivery from October 2015 until December 2016, according to the tender document obtained by Reuters. ID:nL6N0WS56C

* Indian shares fell more than 2 percent on Thursday to a more than 10-week low on worries foreign investors, whose ownership of domestic shares have hit a record, may trim positions on risk aversion after Saudi Arabia launched air strikes in Yemen. ID:nL3N0WS3ZV

* Ford Motor Co F.N plans to triple exports from India with a $1 billion plant that will be one of its most heavily automated in Asia, offsetting slower sales inside the country with a push to sell more local production abroad. ID:nL3N0WS28X

* Emerging markets saw portfolio inflows of $16 billion in March, the third consecutive month of inflows, with those markets seeing more capital after the March Federal Reserve meeting, the Institute of International Finance said on Thursday. ID:nL2N0WS24K

* Indian Prime Minister Narendra Modi has asked for a drastic cutback of an ambitious health care plan after cost estimates came in at $18.5 billion over five years, several government sources said, delaying a promise made in his election manifesto. ID:nL3N0WR33W

KEY DEALS

* India fragrance maker S.H. Kelkar and Company, partly owned by Blackstone Group BX.N , has filed a draft prospectus with the regulator for an initial public offering that a banker directly involved in the process said would fetch around $100 million. ID:nL3N0WS4AG

* A group of investors led by Japanese mobile telecom firm SoftBank Corp 9984.T is in talks to buy a 20 percent stake in Indian handset maker Micromax Informatics IPO-MINF.NS for up to $1 billion, two people aware of the discussions said. ID:nL3N0WS44P

* Pininfarina PNNI.MI said India's Mahindra & Mahindra MAHM.NS had expressed an interest in the Italian luxury car designer, but there are no binding agreements over a possible purchase of the group. ID:nL6N0WS193

* German generic drugmaker Stada STAGn.DE struck an alliance with family-owned Hetero Drugs Ltd of India to gain access to active ingredients for cancer drugs, Stada said on Thursday. ID:nL6N0WS25D

USD/INR NDFs (NY closing prices)

For up-to-date prices, double click PNDF

Open

High

Low

Close

Volume

63.07

63.40

63.15

63.30-33

NA

FII INVESTMENTS-EQUITIES (Net dollars)

March 26*

-$83.16 mln

Month-to-date**

$1.97 bln

Year-to-date**

$5.93 bln

* Provisional NSE data

** Source: Data as per latest custodial filing as on March 26 on NSDL's website.

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

March 26*

$112.64 mln

Month-to-date

$1.93 bln

Year-to-date

$7.73 bln

* Source: Data as per latest custodial filing as on March 26 on NSDL's website, Reuters calculation

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

March. 26

Foreign Banks

-5.19 bln

Public Sector Banks

21.02 bln

Private Sector Banks

-9.91 bln

Mutual Funds

-4.63 bln

Others

0.93 bln

Primary Dealers

-2.22 bln

INFLOWS

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

Instrument

Payment

Date

Amount

(mln rupees)

=========================================================== 91 days T-Bill

Redemption Mar 27

209350.00 SDL 08.35%, 2018

Interest Mar 27

198.31 (2 States) SDL 08.39%, 2018

Interest Mar 27

151.02 (GUJARAT) SDL 08.40%, 2018

Interest Mar 27

467.30 (3 States) SDL 08.41%, 2018

Interest Mar 27

420.50 (ANDHRA PRADESH) SDL 08.46%, 2018

Interest Mar 27

36.68 (3 States) SDL 08.68%, 2018

Interest Mar 27

34.72 (UTTARAKHAND) SDL 08.70%, 2018

Interest Mar 27

49.87 (JAMMU & KASHMIR)

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

For the monthly inflows see: ID:nL4N0W41RM

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

LIQUIDITY

* The Reserve Bank of India said on Thursday it accepted all 13 bids for 50.87 billion rupees ($811.32 million) at its one-day repo auction, through which it injects liquidity into the banking system. ID:nS8N0PM001

* Indian banks' refinancing with RBI rises to 66.02 billion rupees. ID:nS8N0V0023

* Indian banks' cash balances with RBI fall to 3.58 trillion rupees. ID:nS8N0V0024

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