RBI COUNTER

* DAILY LAF TENDERS: One set of 3-day reverse repo (at 6.75%) and 3-day repo (at 7.75%). Bids for repo tender may be submitted between 0930 IST and 1030 IST, and reverse repo between 1900 IST and 1930 IST.

* TERM REPO TENDER: One set of 14-day variable rate term repo for 195 bln rupees. Bids may be submitted between 1100 and 1130 IST

* GILT AUCTIONS: RBI to auction 20 bln rupees of the 8.27%, 2020 bond, 50 bln rupees of the 8.15%, 2026 bond, 30 bln rupees of the 8.24%, 2033 bond and 30 bln rupees of the 8.17%, 2044 bond.

MARKETS

Call  : Open 20-30 bps above repo rate. Banks to borrow for weekend reserves, indirect tax outflows. 3-day call: 7.95-8.05 vs 8.60-8.70 1-day Thu.

Bonds : May open taking cues from oil prices, US yields. May remain steady, on caution before auction. 10-yr bond yield: 7.68-7.73% vs 7.70% Thu.

Rupee : Seen up as banks may sell dollars on hopes of FII inflows. To eye movement of dollar vs other units. Range: 61.55-61.80/$1 vs 61.73 Thu.

Stocks: Seen down on continued weakness in metal, PSU bank shares Nifty range: 8650-8800, Thursday-end: 8711.70, down 12 points.

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