Rafael's Feed
May 14, 2013

Bonds rally to 3-year highs on easing inflation

MUMBAI (Reuters) – Bonds rallied on Tuesday, sending the 10-year bond yield to its lowest in almost three years, after data showing sharply easing wholesale inflation spurred hopes the central bank would cut interest rates further.

Bonds were also supported by hopes the Reserve Bank of India (RBI) would buy bonds. Tight liquidity conditions have led lenders to borrow more than 1 trillion rupees from the central bank repo window for five of the past six sessions.

May 14, 2013

Indian bonds rally to 3-yr highs on easing inflation

MUMBAI, May 14 (Reuters) – Indian bonds rallied on Tuesday,
sending the 10-year bond yield to its lowest in almost three
years, after data showing sharply easing wholesale inflation
spurred hopes the central bank would cut interest rates
further.

Bonds were also supported by hopes the Reserve Bank of India
would buy bonds. Tight liquidity conditions have led lenders to
borrow more than 1 trillion rupees ($18.25 billion) from the
central bank repo window for five of the past six sessions.

Apr 29, 2013

Indian hedge funds dare where foreign investors fear

MUMBAI (Reuters) – Indian hedge fund manager Kalpesh Kinariwala is so sure of his equity strategies in a country that has stumped foreign rivals that he sends a daily e-mail tracker of his performance – including to competitors.

Kinariwala’s Capveda Capital (India) Advisory fund, which he runs from a modest office in a decrepit industrial estate in Mumbai, has returned 11.86 percent so far this year, outperforming average negative returns of 2 percent from India-focused foreign hedge funds.

Apr 28, 2013

Indian hedge funds dare where foreign investors fear to tread

MUMBAI, April 29 (Reuters) – Indian hedge fund manager
Kalpesh Kinariwala is so sure of his equity strategies in a
country that has stumped foreign rivals that he sends a daily
e-mail tracker of his performance – including to competitors.

Kinariwala’s Capveda Capital (India) Advisory fund, which he
runs from a modest office in a decrepit industrial estate in
Mumbai, has returned 11.86 percent so far this year,
outperforming average negative returns of 2 percent from
India-focused foreign hedge funds.

Mar 28, 2013

Deadline postponed for banks’ to agree FX settlement plan

MUMBAI (Reuters) – A deadline for Indian banks to sign agreements by March 31 to settle currency forward trades via a clearing house has been postponed, according to a letter from the domestic currency market association seen by Reuters.

The Reserve Bank of India wants all banks operating in the country agree to settle trades for currency forwards, with durations of up to 13 months, through Clearing Corporation of India Ltd (CCIL).

Mar 28, 2013

Deadline postponed for Indian banks’ to agree FX settlement plan

MUMBAI, March 28 (Reuters) – A deadline for Indian banks to
sign agreements by March 31 to settle currency forward trades
via a clearing house has been postponed, according to a letter
from the domestic currency market association seen by Reuters.

The Reserve Bank of India wants all banks operating in the
country agree to settle trades for currency forwards, with
durations of up to 13 months, through Clearing Corporation of
India Ltd (CCIL).

Mar 20, 2013

India sees strong demand from foreign investors for bond quotas

MUMBAI (Reuters) – India’s auction of quotas allowing foreign investors to buy bonds attracted strong demand on Wednesday, easing some of the concerns about whether a recent sell-off in markets would reduce demand for domestic debt.

The sale comes a day after the RBI issued a cautious stance on monetary policy, and also comes after the Dravida Munnetra Kazhagam (DMK) party withdrew from the ruling coalition, putting in doubt the government’s reform agenda.

Mar 19, 2013

Sensex to hit record high by December: Reuters Poll

BANGALORE/MUMBAI (Reuters) – Indian stocks will hit a record high this year on looser monetary policy and fiscal reforms, but concerns over a widening budget deficit could limit the upside, a Reuters poll predicted.

The benchmark BSE index is expected to rise 13 percent over the rest of 2013, half of the 26 percent surge last year, according to the median forecast of 20 equity analysts polled over the past week.

Mar 19, 2013

Indian stocks to rise 13 pct this year, hit record high

BANGALORE/MUMBAI, March 19 (Reuters) – Indian stocks will
hit a record high this year on looser monetary policy and fiscal
reforms, but concerns over a widening budget deficit could limit
the upside, a Reuters poll predicted.

The benchmark BSE index is expected to rise 13
percent over the rest of 2013, half of the 26 percent surge last
year, according to the median forecast of 20 equity analysts
polled over the past week.

Feb 11, 2013

SX starts trading, setting up battle with NSE

MUMBAI (Reuters) – India’s new stock exchange MCX-SX started trading shares on Monday with thin volumes, taking up a steep challenge to build liquidity and win market share against dominant player National Stock Exchange (NSE) and the smaller and older BSE Ltd.

As of late Monday morning, the value of shares traded on the MCX-SX was 1.5 million rupees, its web site showed, compared to 34.3 billion rupees on the NSE.

    • About Rafael

      "Rafael Nam is the Chief Markets Correspondent for India, overseeing markets and chat room coverage across stocks, debt and fixed income. He has recently started tweeting at @rafaelnam"
    • Follow Rafael