- Indian federal 10-year bond yield fell to 7.83%, down by 3bps on a weekly basis. Bond rally was due to positive sentiment floated on the announcement of lower-than-expected borrowing schedule. As per the schedule, government would raise 63% of its full-year borrowing target of Rs4.57trn in the first half.
- India's total external debt stock stood at US$251.4bn as on Dec ‘10, recording an increase of US$26.8bn (11.9%) over end-March 2009 largely on account of dollar depreciation. Long-term debt increased 13.8% (US$206.2bn) and short-term debt increased 4.3% (US$45.2bn).
- After touching a four month low at 16.22% in the previous week, food inflation bounced to 16.35% for the week ended Mar 20, 2010. Inflation in fuel group also inched higher.
- India’s fiscal deficit during Apr-Feb 2009-10 was at Rs3.8trn, up 24% over the figure of Rs3.1trn in the corresponding period of last fiscal. The fiscal deficit during Apr-Feb 2009-10 accounted for 92% of the revised estimates of Rs4.1trn for 2009-10.
- Axis Bank has been authorized by the RBI to commence Primary Dealer business in G-Sec with effect from April 5, 2010.
- Consumer prices in the 16-nation euro region increased by 1.5% in March ‘10 from a year previously, after a 0.9% gain in February ‘10.
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