India stocks, rupee, swaps, call at 1 p.m. IST

STOCKS:

The benchmark BSE Sensex SENSEX fell 442.03 points, or 0.71%, to 62,128.65, while the broader NSE index NIFTY lost 121.8 points, or 0.65%, to 18,487.55, dragged by information technology stocks, after HCL Technologies warned of a potential slowdown in client spending in the industry's key U.S. markets as recession fears weighed.

RUPEE:

The Indian rupee USDINR strengthened 0.4% versus the U.S. dollar, and quoted at 82.11 per dollar, tracking a further decline in the dollar index that propped up Asian currencies, with softer oil prices and positive news from China adding to the momentum.

GOVERNMENT BONDS:

Benchmark 10-year bond (IN072632G=CC) was quoted at 99.78 rupees, with yield unchanged at 7.2905%; vs previous close of 7.2890%, as traders await debt auction result.

OVERNIGHT INDEXED SWAPS:

The one-year overnight indexed swap rate (INRAMONMI1Y=) was down 5 bps at 6.62%, while the benchmark five-year swap rate (INRSMONMI5Y=) fell 10 bps to 6.21%.

CALL MONEY/REPOS:

India's overnight call money (INROND=) rate remained unchanged from the previous session at 6.05%. The overnight TREPS rate (INTREPTOT=TCCL) was at 5.95%, compared with the previous day's weighted average of 5.9801%.