MUMBAI, Feb 8 (Reuters) -
STOCKS:
The benchmark BSE Sensex rose 377.75 points, or 0.63%,
to 60,663.79, while the broader NSE index gained 150.2
points, or 0.85%, to 17,871.7, after the Reserve Bank of India
(RBI) delivered a smaller interest rate hike as widely expected,
while embattled Adani Group shares recouped losses for a second
straight day. RUPEE:
The Indian rupee strengthened 0.26% versus the U.S.
dollar, and quoted at 82.52 per dollar, after the RBI raised the
key lending rate by an expected 25 basis points and hinted that
more tightening was possible. GOVERNMENT BONDS:
Benchmark 10-year bond was quoted at 99.433
rupees, with yield up 3 bps at 7.343535%, after the RBI adopted
a hawkish stance and surprised the market by leaving the door
open to more tightening, saying core inflation remained high. OVERNIGHT INDEXED SWAPS:
The one-year overnight indexed swap rate was up
12 bps at 6.78%, while the benchmark five-year swap rate rose 8 bps to 6.31%.
CALL MONEY/REPOS:
India's overnight call money rate was up 30 bps at
6.35% against 6.05% in the previous session. The overnight TREPS
rate was at 6.50%, compared with the previous
day's weighted average of 6.0407%.
(Reporting by Anushka Trivedi)
anushka.trivedi.thomsonreuters.com@reuters.net))
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