GLOBAL MARKETS ROUNDUP
* Asian shares rose on Thursday on encouraging U.S. economic data, but prices could falter with markets tense ahead of a European summit deeply divided on how to tackle the protracted euro zone debt crisis and stop it spreading further.
* The euro stayed on the backfoot in Asia on Thursday, though its downside was seen limited lest an impending summit of European leaders surprised markets with concrete measures to tackle the region's debt crisis.
* Crude oil futures rose on Wednesday as tighter North Sea supplies and strong U.S. economic data put on the back burner concerns that a European summit would do little to solve he region's debt crisis.
* Prime Minister Manmohan Singh summoned officials on Wednesday to formulate an economic revival plan in part addressing problems in tax policy and said he also wanted to revive the "animal spirit" of Indian economic growth.
* India banks' growth in deposits and loans was sluggish in the month to June 15, the Reserve Bank of India said on Wednesday.
* India's central bank said standalone primary dealers will not be allowed to raise capital through short-term bonds from July 1, and should instead issue long-tenure debt to strengthen their capital base and align with Basel III norms for banks.
* Indian Prime Minister Manmohan Singh discussed opening up the country's $450 billion retail sector to foreign supermarkets and fuel subsidy reforms in a meeting with finance ministry officials on Wednesday, a government source told Reuters.
* Indian Prime Minister Manmohan Singh told finance ministry officials that the government needs to fix problems over taxation, resolve issues in the mutual funds industry and tackle a slowdown in the insurance sector.
* As the Indian rupee tumbles to record lows, Anil Jain, the chairman of a company which dismantles old ships, is in a bind: like many of the country's many small and medium-sized firms, his only way to hedge foreign currency risk is hope.
KEY EVENTS TO WATCH
* RBI Deputy Governor K.C.Chakrabarty and several bankers speak at CII Banking-Tech Summit in Mumbai.
* India will host an international investment summit for Afghanistan in New Delhi as part of its new policy of proactive engagement in that country.
EXTERNAL COMMERCIAL BORROWINGS / MAJOR DEALS
* Strides Arcolab said it had managed to redeem $80 million CBs due in 2012 from its cash balances. The company paid $116 million to its bondholders including redemption premium of 45.058 percent.(IFR)
* At least two Asian banks have committed to the $150 million five-year term loan for Jindal Steel & Power in general syndication and a handful of banks are getting credit approvals. (IFR)
* UK lender HSBC on Wednesday offered its entire stakes in India's Axis Bank and Yes Bank through share sales worth up to 24.5 billion rupees ($429.5 million), according to a term sheet obtained by Reuters.
USD/INR NDFs (NY closing prices)
* For up-to-date prices, double click
Close Open High Low Volume
57.21-26 57.50 57.54 57.18 High
FII INVESTMENTS-EQUITIES (Net rupees)
June 27* 861 mln
Month-to-date** -736 mln
Year-to-date** 424.21 bln
* Provisional NSE data
** Source: SEBI (reporting date as of June 27, as submitted by custodians)
FII INVESTMENTS-DEBT (Net Rupees)
June 26 -1.73 bln
Month-to-date 18.55 bln
Year-to-date 210.35 bln
Source: SEBI (reporting date as of June 27, as submitted by custodians)
GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees)
Foreign Banks -14.48 bln
Public Sector Banks 18.81 bln
Private Sector Banks -1.60 bln
Mutual Funds -3.63 bln
Others 5.57 bln
Primary Dealers -4.66 bln
Source: Clearing Corp of India Ltd BOND INTEREST/REDEMPTIONS 91 days T-Bill Redemption Jun 29 90008.50 364 days T-Bill Redemption Jun 29 30000.00 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) For full table, see
WEEKLY GOVERNMENT BOND AUCTIONS (In rupees) MATURITIES DATE AMOUNT Government Bonds June 29 150 bln
LIQUIDITY, as of June 27
* The Reserve Bank of India said on Wednesday it accepted all 34 bids for 809.65 billion rupees at its one-day repo auctions, through which it injects liquidity into the banking system. It also accepted 3 bids for 4.8 billion rupees at the reverse repo auction.
* Indian bank refinancings with RBI fall to 96.19 bln rupees
* Indian banks' cash balances with RBI rise to 3.21 trln rupees. (Compiled by Madhura Karnik; Editing by Gopakumar Warrier)