Rupee gains 12 paise
Mumbai: The rupee moved up by 12 paise because of dollar inflows into the domestic stock markets. On Tuesday, the rupee opened at 44.43/45, touched an intra-day low of 44.50/51 to finally close at 44.37, against the previous close of 44.49 on Monday, tracking the yen's movement against the dollar, said a dealer at a private bank.
In forwards, the 6-month closed at 3.49 per cent (3.70 per cent) and the 12-month ended at 2.91 per cent (3.04 per cent).

Bonds: Bond prices fell by around 10 paise on profit-booking. Total traded volumes on the order matching system were lower at Rs2,875 crore (Rs7,420 crore).

G-secs: The 8.07-10 year-2017 paper opened at Rs104.10 (7.48 per cent YTM) and closed at Rs104.02 (7.49 per cent YTM), lower than Monday's Rs104.12 (7.48 per cent YTM).

The 7.59-9 year-2016 paper opened at Rs100.65 (7.49 per cent YTM) and ended at Rs100.52 (7.50 per cent YTM), against Monday's Rs100.63 (7.49 per cent YTM).

Call rates: Call rates closed higher at 8.25-8.5 per cent (8-8.1 per cent) for the second day in a row, following the second hike in CRR by 25 basis points.

Reverse repo: In the first one-day repo auction under LAF, the RBI received and accepted 21 bids for Rs8,195 crore. In the second one-day reverse-repo auction, it accepted and received five bids for Rs140 crore and in the repo auction it received and accepted 23 bids for Rs9,940 crore.

CBLO: The CBLO market saw 332 trades aggregating Rs18,459.20 crore in the 7.5-7.21 per cent range.
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ICICI Bank to raise another $1 billion
Mumbai: ICICI Bank, the country's largest private bank, plans to raise another $1 billion through senior unsecured bonds and upper tier II bonds and will use the proceeds support its growth and its subsidiaries, to increase its regulatory tier II capital, and for general corporate purposes.

The bank is looking to raise $500 million through senior unsecured bonds in two tranches with tenures of three and five years. The issue would have no call or put option.

ICICI Bank also proposes to raise up to $500 million through upper tier II subordinated bonds with 15-year maturity. The cumulative bonds carry a call option 10 years from the date of issue.
Citigroup, Deutsche Bank and Merrill Lynch have been hired as lead managers to the issue.

Standard & Poor's Ratings Services today assigned its BB+ rating to the proposed $500 million senior unsecured notes and BB- rating to the proposed up to $500 million upper Tier II subordinated notes.
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Home loan growth falling
The high retail credit growth rate especially that of home loans seen over the last three years seems to be slowing down after the recent lending rate hikes according to State Bank of India chairman, OP Bhatt.

Bhatt said the interest rate cycle had more or less peaked. He said there was slight pressure on liquidity but no shortage of credit for productive sectors because there were various instruments at banks' disposal to improve liquidity.
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