MUMBAI, Feb 1 (Reuters) - STOCKS:
The benchmark BSE Sensex rose 1,203.52 points, or
2.02%, to 60,753.42, while the broader NSE index gained
245.4 points, or 1.39%, to 17,907.55 after the government raised
the minimum tax rebate limit and stepped up spending. RUPEE:
The Indian rupee strengthened 0.16% versus the U.S.
dollar, and quoted at 81.79 per dollar as sentiment was buoyed
by India's 2024 fiscal budget that focused on growth and pegged
a lower gross borrowing than market expected. GOVERNMENT BONDS:
Benchmark 10-year bond was quoted at 99.74
rupees, with yield down 5 bps at 7.2973% vs previous close of
7.3438% after the government's borrowing target for the next
financial year came in lower than estimates. OVERNIGHT INDEXED SWAPS:
The one-year overnight indexed swap rate was down
3 bps at 6.68%, while the benchmark five-year swap rate fell 3 bps to 6.24%.
CALL MONEY/REPOS:
India's overnight call money rate was down 25 bps at
6.20% against 6.45% in the previous session. The overnight TREPS
rate was at 6.15%, compared with the previous
day's weighted average of 6.4237%.
(Reporting by Bhakti Tambe)
bhakti.rajendratambe.thomsonreuters.com@reuters.net Twiter: ))
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