RBI COUNTER

* DAILY LAF TENDERS: One set of 1-day reverse repo (at 6.75%) and 1-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 155 bln rupees. Bids may be submitted between 1100 and 1130 IST.

* STATE DEVELOPMENT LOAN AUCTION: RBI to hold auction of 116.20 bln rupees worth of bonds issued by 13 states--Bihar, Gujarat, Haryana, Himachal Pradesh, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Meghalaya, Punjab, Rajasthan, Tamil Nadu, and Uttar Pradesh.

MARKETS

Call  : Seen opening 10-15 bps above RBI's repo rate on demand from banks to meet reserve needs. 1-day call. 7.85-7.90% vs 7.00-7.20% Mon.

Bonds : May track US Treasury yields, crude oil prices Tue. Mild value buying may support prices: 10-yr bond yield 7.69-7.74% vs 7.72% Monday.

Rupee : Seen steady to tad up on positive India Oct-Dec GDP data. Delhi poll results eyed intraday. Range: 61.9000-62.3000/$1 vs 62.1650 Mon.

Stocks: Seen choppy with negative bias; Delhi poll outcome eyed. Nifty range: 8450-8600, Monday-end: 8526.35, down 134.70 points.

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