CURRENCIES, STOCKS, COMMODITIES..

CURRENCIES
EUR/USD: The euro was slightly lower against the dollar on expectations the European Central Bank may announce the quantitative easing programme at its Jan 22 meet.
--$1.1776 per euro today vs $1.1789 Wednesday; $1.1772 Tuesday
USD/JPY: The yen weakened against the dollar as gains in Japanese equity markets reduced demand for the safe-haven currency.
--117.79 yen per $1 today vs 117.32 Wednesday; 117.90 Tuesday

US TREASURIES
Yields fell to their lowest levels since May 1, 2013 after a disappointing retail sales data in the US increased safe-haven demand as also raised speculation the Federal Reserve may hike interest rates at a slower-than-expected pace.
--10-year bond yield: 1.85% Wednesday vs 1.89% Tuesday

STOCKS
* INDIA
--Nikkei 225: 16,970.05 today, up 174.09 points or 1.04% vs Wednesday
--S&P ASX 200: 5,318.50 today, down 35.10 points or 0.66% vs Wednesday
* Europe
--EURO STOXX: 3,089.67 Wednesday, down 44.19 points or 1.41% vs Tuesday
--FTSE 100: 6,388.46 Wednesday, down 153.74 points or 2.35% vs Tuesday
* US
--DJIA: 17,427.09 Wednesday, down 186.59 points or 1.06% vs Tuesday
--S&P 500: 2,011.27 Wednesday, down 11.76 points or 0.58% vs Tuesday

COMMODITIES
* CRUDE OIL: Prices gained Wednesday, reversing their three-day losing streak, even as weekly inventories in the US rose. This was the highest one-day gain in prices since June 2012.
--NYMEX Feb futures (a barrel): $48.48 Wednesday vs $45.89 Tuesday
* GOLD: Futures ended mostly unchanged amid global growth concerns and weak US retail sales data.
--COMEX Feb futures (a troy ounce): $1,234.50 Wednesday vs $1,234.40 Tuesday

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MEDIA & MARKET

MEDIA PICKS

* Modi promises to make India easiest place to do business.

* Delhi-bound train being searched for bomb in MP.

* Witness in Asaram Bapu's Surat rape case shot dead.

* Tharoor in Delhi; Cops may quiz him this week in Sunanda Pushkar case.

* BJP eyes three-fourths majority in Bihar.

* J&K to have stable government soon: BJP.

RBI COUNTER

* DAILY LAF TENDERS: One set of 1-day reverse repo (at 7.00%) and 1-day repo (at 8.00%). Bids for repo tender may be submitted between 0930 IST and 1030 IST, and for reverse repo between 1900 IST and 1930 IST.

MARKETS 

Call  : May open slightly above repo rate as most banks likely to cover reserve needs early in session. 1-day call: 8.00-8.35% vs 7.00% 2-day Saturday.

Bonds : Oil price, US yield may lend cues Mon. Buying ahead of CPI data release to support. 10-yr bond yield:7.83-7.88% vs 7.84% Friday.

Rupee : May open steady to a tad down weighed by strong US jobs data. Range: 62.0000-62.6000/$1 vs 62.3250/$1 Friday.

Stocks : Market to take cue from Oct-Dec earnings. Nifty range: 8151-8380. Friday end: 8284.50, up 49.90 points.

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RBI COUNTER

* DAILY LAF TENDERS: One set of 3-day reverse repo (at 7.00%) and 3-day repo (at 8.00%). Bids for repo tender may be submitted between 0930 IST and 1030 IST, and reverse repo between 1900 IST and 1930 IST.

* TERM REPO: One set of 14-day variable rate term repo for 185 bln rupees. Bids may be submitted between 1100 and 1130 IST.

* GILT AUCTIONS: RBI to auction 20 bln rupees of 8.08%, 2022 bond, 60 bln rupees of 8.40%, 2024 bond, 30 bln rupees of 9.20%, 2030 bond, and 30 bln rupees of 8.30%, 2040 bond.

MARKETS

Call  : May open 20-30 bps above repo rate on demand from banks to meet weekend reserve needs. 3-day call: 7.60-8.40% vs 8.05% 1-day Thu.

Bonds : Seen steady ahead of gilt auction. Players may build positions ahead of CPI later in session. 10-yr bond yield: 7.84-7.88% vs 7.86% Thu.

Rupee : To open steady on expected dollar sales by foreign banks for companies. Range: 62.2000-62.7500/$1 vs 62.6700/$1 Thursday.

Stocks: Seen opening up tracking firm global equities. Infosys earnings eyed. Nifty range: 8200-8350, Thursday-end: 8234.60, up 132.50 points.

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RBI COUNTER

* DAILY LAF TENDERS: One set of 1-day reverse repo (at 7.00%) and 1-day repo (at 8.00%). Bids for repo tender may be submitted between 0930 IST and 1030 IST, and reverse repo between 1900 IST and 1930 IST.

MARKETS

Call  : May open 10-15 bps above repo rate on demand from banks to meet reserve needs. 1-day call: 8.10-8.15% vs 8.00-8.05% Wednesday.

Bonds : May track oil rates, US yields. FOMC meet minutes may weigh. 10-year bond yield: 7.84-7.90% vs 7.86% Wednesday.

Rupee : To open steady to marginally higher on expected dollar sales by foreign banks for FIIs. Range: 63.000-63.3500/$1 vs 63.1700/$1 Wednesday.

Stocks: Seen opening up on firm cues from global equities. Nifty range: 8060-8250, Wednesday-end: 8102.10, down 25.25 points.

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RBI COUNTER
* DAILY LAF TENDERS: One set of 1-day reverse repo (at 7.00%) and 1-day repo (at 8.00%). Bids for repo tender may be submitted between 0930 IST and 1030 IST, and reverse repo between 1900 IST and 1930 IST.
* TERM REPO TENDER: One set of 14-day variable rate term repo for 150 bln rupees. Bids for term repo tender may be submitted between 1100 IST and 1130 IST.

MARKETS
Call : May open slightly above repo rate on demand from banks to meet reserve needs. 1-day call: 8.00-8.10% vs 8.95-9.00% Mon.

Bonds : May take opening cues from oil prices, US ylds. Mild value-buying may support. Seen in narrow range. 10-yr bond yld: 7.85-7.90% vs 7.89% Mon.

Rupee : To open dn tracking euro. Dlr rise vs euro may spur bks dlr buys, exporter dlr sales may cap fall. Range: 63.30-63.70/$1 vs 63.41/$1 Mon.

Stocks: Seen opening down tracking sell-off in global equities Nifty range: 8300-8420, Monday-end: 8378.40, down 17.05 points.

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RBI COUNTER
* DAILY LAF TENDERS: One set of 1-day reverse repo (at 7.00%) and 1-day repo (at 8.00%). Bids for repo tender may be submitted between 0930 IST and 1030 IST, and for reverse repo between 1900 IST and 1930 IST.

MARKETS
Call  : Seen opening near RBI's repo rate as banks may rush to cover reserve  needs early in session. 1-day Call 7.95-8.10% vs 4.00% 2-day Sat.
Bonds : May take cues from crude oil price, US yields. 10-year bond yield: 7.85-7.92% vs 7.87% Friday.
Rupee : Seen steady. Asian units, NDF eyed. Dlr inflow in Nostro may hit. Range: 63.1000-63.4000/$1 vs 63.2950/$1 Friday.
Stocks: Seen opening marginally down; trade seen rangebound
Nifty range: 8300-8450, Friday-end: 8395.45, up 111.45 points.

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Market Update

 
RBI COUNTER
* DAILY LAF TENDERS: One set of 3-day reverse repo (at 7.00%) and 3-day repo (at 8.00%). Bids for repo tender may be submitted between 0930 IST and 1030 IST, and reverse repo between 1900 IST and 1930 IST.
 
* TERM REPO TENDER: One set of 14-day variable rate term repo for 155 bln rupees. Bids may be submitted between 1100 and 1130 IST.
 
* GILT AUCTIONS: RBI to auction 30 bln rupees of 8.27%, 2020 bond, 60 bln rupees of 8.60%, 2028 bond, 20 bln rupees of 8.24%, 2033 bond, and 30 bln rupees of 8.17%, 2044 bond.

MARKETS
Call : Seen opening above repo rate on demand from banks to meet weekend reserve needs. 3-day Call. 8.10-8.20% vs 7.20% 1-day Thursday.

Bonds : Seen down as report govt may not meet divest aim hits mood. Players may be cautious before auction. 10-yr bond yield: 7.85-7.92% vs 7.88% Wed.

Rupee : Seen steady to tad down as dollar buying expected to continue. To track Asian units, NDF at open. Range: 63.20-63.60/$1 vs 63.35/$1 Thursday.

Stocks: Seen range bound in the absence of major triggers. Nifty range: 8200-8350, Thursday-end: 8284.00, up 1.30 points.

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