STOCKS:
The benchmark BSE Sensex fell 502.4 points, or 0.85%,
to 58,908.68, while the broader NSE index lost 121.35
points, or 0.70%, to 17,329.55, as foreign selling continued
amid persistent fears of a prolonged high-interest regime. RUPEE:
The Indian rupee weakened 0.11% versus the U.S. dollar,
and quoted at 82.59 per dollar, as Treasury yields surged after
more data prints hinted at inflation concerns persisting in
major economies. GOVERNMENT BONDS:
Benchmark 10-year bond was quoted at 98.80
rupees, with yield up 2 bps at 7.4382%; vs previous close of
7.4180%, tracking spike in U.S. yields. OVERNIGHT INDEXED SWAPS:
The one-year overnight indexed swap rate was up 2
bps at 7.01%, while the benchmark five-year swap rate rose 3 bps to 6.64%.
CALL MONEY/REPOS:
India's overnight call money rate was up 5 bps at
6.40% against 6.35% in the previous session. The overnight TREPS
rate was at 6.20%, compared with the previous
day's weighted average of 6.2697%.
(Reporting by Dharamraj Dhutia)
