India stocks, rupee, swaps, call at close

STOCKS:

The benchmark BSE Sensex SENSEX rose 184.54 points, or 0.29%, to 63,284.19, while the broader NSE index NIFTY gained 60.65 points, or 0.32%, to 18,819, tracking gains in global equities after Federal Reserve Chair Jerome Powell hinted at slowing the pace of interest rate hikes.

RUPEE:

The Indian rupee USDINR strengthened 0.26% versus the U.S. dollar, and quoted at 81.23 per dollar, as global markets were buoyed by the U.S. Federal Reserve Chair Jerome Powell's comments that were less hawkish than expected.

GOVERNMENT BONDS:

The benchmark 10-year bond (IN072632G=CC) was quoted at 100.33 rupees, with yield down 7 bps at 7.2095% vs previous close of 7.2798%. The benchmark yield ending at its lowest level in eleven weeks, after Federal Reserve Chair Jerome Powell struck a more dovish tone than the market expected on interest rates.

OVERNIGHT INDEXED SWAPS:

The one-year overnight indexed swap rate (INRAMONMI1Y=) was down 4 bps at 6.63%, while the benchmark five-year swap rate (INRSMONMI5Y=) fell 6 bps to 6.27%.

CALL MONEY/REPOS:

India's overnight call money (INROND=) rate was down 15 bps at 5.60%. The overnight TREPS rate (INTREPTOT=TCCL) was at 5.51%, compared with the previous day's weighted average of 5.6576%.