GLOBAL MARKETS ROUNDUP * Asian shares opened cautiously higher on Friday with Tokyo's Nikkei steadying from its biggest one-day drop in two years as investors breathed a sigh of relief when Wall Street cut losses on an upbeat outlook from Hewlett-Packard. * The dollar recovered from two-week lows against the yen on Friday as a safety-bid for the Japanese currency ebbed after the Nikkei share average rebounded from the previous day's 7.3-percent plunge and Wall Street regained some stability by the close. * Brent crude oil prices retraced earlier losses after falling to a three-week low on Thursday in a broader commodities selloff, riding the coattails of a late turnaround in U.S. equities to end flat. * U.S. Treasury debt prices rose on Thursday after the Treasury saw solid demand for new inflation-linked bonds, though benchmark yields held above 2 percent as traders worried about how high yields might rise whenever the U.S. Federal Reserve decides to taper its bond purchases. LOCAL MARKETS PREVIOUS CLOSE * BSE index 19,674.33 (-1.93 pct) * NSE index 5,967.05 (-2.09 pct) * Rupee 55.59/60 per dollar (55.46/47) * 10-year bond yield 7.38 pct (7.37 pct) * 5-year OIS rate 6.78 pct (6.77 pct) * 1-year OIS rate 7.11 pct (7.10 pct) * Call money 7.20/7.30 pct (7.25/7.30 pct) OVERNIGHT NEWS * Reserve Bank of India (RBI) Governor Duvvuri Subbarao went against the suggestion of a majority of external members of the central bank's monetary policy committee that recommended no change in the policy repo rate at a May 3 policy meeting, according to minutes of the meeting seen by Reuters. FACTORS TO WATCH * Indian PM at stock exchange event. (1500IST) * RBI to report forex reserves, bank lending data. MAJOR DEALS/ACQUISITIONS * Marathon Oil Corp said on Thursday that negotiations to sell a portion of its 20 percent stake in the Athabasca Oil Sands Project in Canada ended without a deal. * Indian real estate company Puravankara Projects Ltd's share offering to raise up to $36 million was subscribed 1.5 times on Thursday, boosting the near-term outlook for equity sales by its rivals to reduce their debt. * A strong following of US investors paved the way for Vedanta Resources (Ba1/BB/BB+) to print the biggest high-yield corporate bond offering in Asia ex-Japan and, in the process, beat its own record. (IFR) USD/INR NDFs (NY closing prices) * For up-to-date prices, double click Close Open High Low Volume 56.07-10 56.10 56.22 55.96 High FII INVESTMENTS-EQUITIES (Net dollars) May 23* $56.79 mln# Month-to-date** $3.36 bln Year-to-date** $14.65 bln * Provisional NSE data ** Source: Data as per custodial filing as on May 23 on SEBI website. #(As per Reuters conversion, $1 = 55.64 rupees) FII INVESTMENTS-DEBT (Net Dollars) * Debt May 22 -$118.82 mln Month-to-date $2.18 bln Year-to-date $5.53 bln * Source: Data as per custodial filing as on May 23 on SEBI website. GOVERNMENT SECURITIES TRADING (Net buy/sell, in rupees) May 23 Foreign Banks -36.1 bln Public Sector Banks -5.54 bln Private Sector Banks 22.24 bln Mutual Funds 7.85 bln Others 4.24 mln Primary Dealers 7.31 bln Source: Clearing Corp of India Ltd MONEY MARKET INFLOWS (mln rupees) Instrument Payment Date Amount SDL 08.39%, 2020 Interest May 24 891.44 (3 States) SDL 08.40%, 2020 Interest May 24 420.00 (GUJARAT) 7.94% 2021 Interest May 24 19453.00 9.00% 2013 Redemption May 24 18301.40 For full table: ISSUANCE SECURITY AMOUNT (IN BLN RUPEES) DATE Bonds 150 May 24 LIQUIDITY * The Reserve Bank of India accepted all 29 bids for 984.05 billion rupees at its one-day repo auction, through which it injects liquidity into the banking system. It did not get any bid at the reverse repo auction, through which it absorbs excess liquidity from the banking system. * Indian banks' refinancing with RBI rises to 178.18 billion rupees. * Indian banks' cash balances with RBI rise to 3.2 trillion rupees. (Compiled by Subhadip Sircar)