GLOBAL MARKETS ROUNDUP
* Asian shares got off to a tentative start on Friday after
a weak performance on Wall Street, and global bond yields
dropped on creeping doubts on the strength of the U.S. economic
recovery.
* The New Zealand dollar hovered at its highest in nearly
three years early on Friday, having taken on a starring role in
a subdued currency market as investors sought higher-yielding
currencies.
* Crude oil on both sides of the Atlantic fell on Thursday
as fears eased over export disruptions from war-ravaged Iraq,
allowing market participants to take some profit off the table.
* U.S. Treasuries yields dropped on Thursday as traders
eyeing a possible slowing of American economic growth drove up
prices for a fourth straight day.
LOCAL MARKETS PREVIOUS CLOSE
* BSE index 25,062.67 (down 0.99 pct)
* NSE index 7,493.20 (down 1.00 pct)
* Rupee 60.14/15 per dlr (60.1250/1350)
* 10-year bond yield 8.73 pct (8.70 pct)
* 5-year OIS rate 7.94 pct (7.94 pct)
* 1-year OIS rate 8.38 pct (8.37 pct)
* Call money 7.00/7.10 pct (8.00/8.10 pct)
KEY FACTORS TO WATCH
* Weekly foreign exchange reserves data at 5 p.m. IST.
KEY DEALS
* Shriram Transport Finance will raise at least 5 billion
rupees ($84 million) from a bond issue in the first week of
July. The company will raise up to a maximum of 30 billion
rupees in tenors of three, five and seven years. Edelweiss
Capital, ICICI Securities, AK Capital and JM Financial are among
the lead managers of the issue.
* L&T Infrastructure Finance, a unit of engineering
conglomerate Larsen & Toubro, is to issue 6 billion
rupees of secured bonds, with an option to issue another 4
billion rupees depending on demand. L&T Infra said the private
placement had been expanded from an earlier target of up to 7
billion rupees. (IFR)
OVERNIGHT NEWS
* India's new prime minister, Narendra Modi, faces
accusations his government ran a campaign to block the
appointment of a Supreme Court judge it believed was biased
against it, fuelling a debate about judicial independence in the
world's largest democracy.
* India made a $550 million payment to Iran on Thursday to
partly clear pending oil dues, under an interim deal that allows
Tehran access to $4.2 billion in blocked funds globally,
industry and government sources said.
* Prospects of economic recovery in India look bright
following the formation of a stable government, though supply
side issues need to be solved to help monetary policy bring down
inflation, the Reserve Bank of India said on Thursday.
USD/INR NDFs (NY closing prices)
For up-to-date prices, double click PNDF
Close Open High Low Volume
60.46-57 60.46 60.55 60.46 N/A
FII INVESTMENTS-EQUITIES (Net dollars)
June 26* -$99.98 mln
Month-to-date** $2.41 bln
Year-to-date** $10.01 bln
* Provisional NSE data
** Source: Data as per the latest custodial filing as on
June 26 on SEBI website.
FII INVESTMENTS-DEBT (Net Dollars) INFIX INFII01* Debt
June 25 $82.57 mln
Month-to-date $2.99 bln
Year-to-date $10.58 bln
* Source: Data as per latest custodial filing as on June 26
on SEBI website.
GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
June 26
Foreign Banks -6.45 bln
Public Sector Banks 14.45 bln
Private Sector Banks 0.51 bln
Mutual Funds -2.35 bln
Others -1.54 bln
Primary Dealers -5.02 bln
Source: Clearing Corp of India Ltd
=============================================================
Instrument Payment Date Amount
(mln rupees)
=============================================================
11.60% 2020 Interest Jun 27 2900.00
SDL 09.38%, 2018 Interest Jun 30 375.20
(WEST BENGAL)
SDL 09.40%, 2018 Interest Jun 30 235.00
(ANDHRA PRADESH)
SDL 09.59%, 2018 Interest Jun 30 479.50
(UTTAR PRADESH)
8.30% 2042 Interest Jun 30 27390.00
-------------------------------------------------------------
For the detailed table for inflows in June, see:
ISSUANCES
DEBT/PAPER AMOUNT DATE
Dated govt securities 150 bln rupees June 27
LIQUIDITY
* The Reserve Bank of India said on Thursday it accepted all
51 bids for 218.18 billion rupees ($3.55 billion) at its repo
auction, through which it injects liquidity into the banking
system.
* Indian banks' refinancing with RBI rises to 322.20 billion
rupees.
* Indian banks' cash balances with RBI rise to 3.27 trillion
rupees.
($1 = 59.7000 Indian Rupees)
* Asian shares got off to a tentative start on Friday after
a weak performance on Wall Street, and global bond yields
dropped on creeping doubts on the strength of the U.S. economic
recovery.
* The New Zealand dollar hovered at its highest in nearly
three years early on Friday, having taken on a starring role in
a subdued currency market as investors sought higher-yielding
currencies.
* Crude oil on both sides of the Atlantic fell on Thursday
as fears eased over export disruptions from war-ravaged Iraq,
allowing market participants to take some profit off the table.
* U.S. Treasuries yields dropped on Thursday as traders
eyeing a possible slowing of American economic growth drove up
prices for a fourth straight day.
LOCAL MARKETS PREVIOUS CLOSE
* BSE index 25,062.67 (down 0.99 pct)
* NSE index 7,493.20 (down 1.00 pct)
* Rupee 60.14/15 per dlr (60.1250/1350)
* 10-year bond yield 8.73 pct (8.70 pct)
* 5-year OIS rate 7.94 pct (7.94 pct)
* 1-year OIS rate 8.38 pct (8.37 pct)
* Call money 7.00/7.10 pct (8.00/8.10 pct)
KEY FACTORS TO WATCH
* Weekly foreign exchange reserves data at 5 p.m. IST.
KEY DEALS
* Shriram Transport Finance will raise at least 5 billion
rupees ($84 million) from a bond issue in the first week of
July. The company will raise up to a maximum of 30 billion
rupees in tenors of three, five and seven years. Edelweiss
Capital, ICICI Securities, AK Capital and JM Financial are among
the lead managers of the issue.
* L&T Infrastructure Finance, a unit of engineering
conglomerate Larsen & Toubro, is to issue 6 billion
rupees of secured bonds, with an option to issue another 4
billion rupees depending on demand. L&T Infra said the private
placement had been expanded from an earlier target of up to 7
billion rupees. (IFR)
OVERNIGHT NEWS
* India's new prime minister, Narendra Modi, faces
accusations his government ran a campaign to block the
appointment of a Supreme Court judge it believed was biased
against it, fuelling a debate about judicial independence in the
world's largest democracy.
* India made a $550 million payment to Iran on Thursday to
partly clear pending oil dues, under an interim deal that allows
Tehran access to $4.2 billion in blocked funds globally,
industry and government sources said.
* Prospects of economic recovery in India look bright
following the formation of a stable government, though supply
side issues need to be solved to help monetary policy bring down
inflation, the Reserve Bank of India said on Thursday.
USD/INR NDFs (NY closing prices)
For up-to-date prices, double click PNDF
Close Open High Low Volume
60.46-57 60.46 60.55 60.46 N/A
FII INVESTMENTS-EQUITIES (Net dollars)
June 26* -$99.98 mln
Month-to-date** $2.41 bln
Year-to-date** $10.01 bln
* Provisional NSE data
** Source: Data as per the latest custodial filing as on
June 26 on SEBI website.
FII INVESTMENTS-DEBT (Net Dollars) INFIX INFII01* Debt
June 25 $82.57 mln
Month-to-date $2.99 bln
Year-to-date $10.58 bln
* Source: Data as per latest custodial filing as on June 26
on SEBI website.
GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
June 26
Foreign Banks -6.45 bln
Public Sector Banks 14.45 bln
Private Sector Banks 0.51 bln
Mutual Funds -2.35 bln
Others -1.54 bln
Primary Dealers -5.02 bln
Source: Clearing Corp of India Ltd
=============================================================
Instrument Payment Date Amount
(mln rupees)
=============================================================
11.60% 2020 Interest Jun 27 2900.00
SDL 09.38%, 2018 Interest Jun 30 375.20
(WEST BENGAL)
SDL 09.40%, 2018 Interest Jun 30 235.00
(ANDHRA PRADESH)
SDL 09.59%, 2018 Interest Jun 30 479.50
(UTTAR PRADESH)
8.30% 2042 Interest Jun 30 27390.00
-------------------------------------------------------------
For the detailed table for inflows in June, see:
ISSUANCES
DEBT/PAPER AMOUNT DATE
Dated govt securities 150 bln rupees June 27
LIQUIDITY
* The Reserve Bank of India said on Thursday it accepted all
51 bids for 218.18 billion rupees ($3.55 billion) at its repo
auction, through which it injects liquidity into the banking
system.
* Indian banks' refinancing with RBI rises to 322.20 billion
rupees.
* Indian banks' cash balances with RBI rise to 3.27 trillion
rupees.
($1 = 59.7000 Indian Rupees)
