GLOBAL MARKETS ROUNDUP
* Asian shares slipped to a 2-1/2 month low on Thursday on
heightened expectations the Federal Reserve may act sooner than
later to unwind its stimulus after a provisional budget deal in
Washington eased some of the fiscal drag on the U.S. economy.
* The yen held firm in Asia on Thursday, having risen
broadly on the back of a slump on Wall Street as expectations
grew the Federal Reserve could scale back stimulus as early as
next week.
* Brent oil rose on supply concerns as traders remained
skeptical that Libyan oil exports would resume while U.S. crude
fell after government data showed large builds in refined oil
products, suggesting sluggish oil demand.
* U.S. Treasury debt prices fell on Wednesday as the market
built in a price concession for the Treasury's $13 billion
30-year bond auction on Thursday, the final leg of the
three-part $64 billion sale of government debt this week.
LOCAL MARKETS PREVIOUS CLOSE
* BSE index 21,171.41 (down 0.39 pct)
* NSE index 6,307.90 (down 0.39 pct)
* Rupee 61.245/255 per dlr (61.04/05)
* New 10 year bond yield 8.83 pct (8.84 pct)
* 5-year OIS rate 8.41 pct (8.40 pct)
* 1-year OIS rate 8.45 pct (8.45 pct)
* Call money 6.90/7.00 pct (7.00/7.10 pct)
FACTORS TO WATCH
* India's central bank will hold its winter board meeting in
Kolkata. It is a two day event that will include a press
conference on the second day, Dec. 12, late in the evening.
* India will release CPI inflation data for November on Dec.
12, around 5.30 IST (12.00 GMT). CPI is expected to come in near
double digits, and IIP is expected to contract.
* India will release monthly industrial output data for
October on Dec. 12 around 5.30 IST (12.00 GMT). IIP is expected
to contract.
OVERNIGHT NEWS
* Tackling inflation will be a priority, India's finance
minister and central bank governor said on Wednesday, after high
prices contributed to painful losses for the ruling Congress
Party in state elections.
* India's financial market regulator unveiled new proposals
on Wednesday, broadening the scope of who can be held liable for
insider trading violations, as it steps up its fight against
securities fraud.
* The Reserve Bank of India's 14-day term repo auction on
Friday will include an additional 100 billion rupees ($1.64
billion) in a bid to offset tighter cash conditions due to
advance tax payments, the central bank said on Wednesday.
MAJOR DEBT SALES/LOANS/MERGERS
* State-run Vijaya Bank has priced its 2.5 billion rupees
(US$41 mln) 10-year Basel III-compliant Tier 2 bonds at 9.73
percent. The deal was mandated to Axis Bank and Trust Capital.
* Indian conglomerate Reliance Industries Ltd and
top mobile operator Bharti Airtel Ltd have agreed to
share network infrastructure, as the old adversaries in India's
crowded telecoms industry set aside differences to save costs.
USD/INR NDFs (NY closing prices)
For up-to-date prices, double click
Close Open High Low Volume
62.03-06 61.68 62.05 61.70 High
FII INVESTMENTS-EQUITIES (Net dollars)
Dec. 11* $157.05 mln
Month-to-date** $1.19 bln
Year-to-date** $18.69 bln
* Provisional NSE data
** Source: Data as per custodial filing as on Dec 11 on SEBI
website.
#(As per Reuters conversion, $1 = 61.3 rupees)
FII INVESTMENTS-DEBT (Net Dollars) *
Debt
Dec. 10 $215.27 mln
Month-to-date $594.37 mln
Year-to-date -$8.23 bln
* Source: Data as per custodial filing as on Dec. 11 on SEBI
website.
GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
Dec. 11
Foreign Banks -5.04 mln
Public Sector Banks 13.21 bln
Private Sector Banks -5.04 bln
Mutual Funds 1.85 bln
Others -0.89 bln
Primary Dealers -4.09 bln
Source: Clearing Corp of India Ltd
MONEY MARKET INFLOWS
===========================================================
Instrument Payment Date Amount
===========================================================
8.15% 2022 Interest Dec 11 33822.50
SDL 06.95%, 2018 Interest Dec 12 260.63
SDL 07.00%, 2018 Interest Dec 12 247.81
SDL 07.02%, 2018 Interest Dec 12 246.46
SDL 07.03%, 2018 Interest Dec 12 790.88
SDL 07.10%, 2018 Interest Dec 12 532.50
6.05% 2019 Interest Dec 12 3327.50
6.17% 2023 Interest Dec 12 4319.00
8.83% 2041 Interest Dec 12 38410.50
91 days T-Bill Redemption Dec 12 77160.00
364 days T-Bill Redemption Dec 12 50065.00
ISSUANCES
PAPER AMOUNT (In Bln Rupees) DATE
Tbills 120 Dec. 11
LIQUIDITY
* The Reserve Bank of India on Wednesday it accepted all 27
bids for 199.09 billion rupees at its one-day repo auction
through which it injects liquidity into the banking system. It
also accepted all 20 bids for 97.74 billion rupees at its
one-day reverse repo auction through which it absorbs excess
liquidity into the banking system.
* Indian banks' refinancing with RBI rises to 304.59 billion
rupees.
* Indian banks' cash balances with RBI fall to 3.13 trillion
rupees.
Source:www.reuters.com
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