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INDIA:  Country Wrap –  NIFTY 50 down for Fifth Straight Day. 

INDIA
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  • RBI advises states to be more prudent in managing finances (source: Economic Times)
  • The Reserve Bank of India will hold a seven-day variable rate repo auction on Friday as banking system liquidity swung back into deficit this week. (source: BBG).
  • India’s NIFTY 50 is likely to finish down for the fifth consecutive day.  It has opened -0.20% lower and tracking to be down down -3.5%, the worst weekly result since October.
  • INR:  is opening steady this morning at 85.08, but tracking to be down -0.35% for the week.
  • Bonds: Bonds have traded in a very tight range all week with the 10YR at 6.79%
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  • RBI advises states to be more prudent in managing finances (source: Economic Times)
  • The Reserve Bank of India will hold a seven-day variable rate repo auction on Friday as banking system liquidity swung back into deficit this week. (source: BBG).
  • India’s NIFTY 50 is likely to finish down for the fifth consecutive day.  It has opened -0.20% lower and tracking to be down down -3.5%, the worst weekly result since October.
  • INR:  is opening steady this morning at 85.08, but tracking to be down -0.35% for the week.
  • Bonds: Bonds have traded in a very tight range all week with the 10YR at 6.79%