STOCKS:
The benchmark BSE Sensex fell 316.92 points, or 0.53%,
to 59,094.16, while the broader NSE index lost 73.15
points, or 0.42%, to 17,377.75, dragged by information
technology stocks, as foreign selling continued amid persistent
fears of a prolonged high-interest regime. RUPEE:
The Indian rupee weakened 0.12% versus the U.S. dollar,
and quoted at 82.59 per dollar, on concerns that the U.S.
Federal Reserve will raise borrowing costs more than
anticipated. GOVERNMENT BONDS:
Benchmark 10-year bond was quoted at 98.71
rupees, with yield up 3 bps at 7.4525%, mirroring moves in U.S.
peers that jumped as markets braced for elevated interest rates
for a longer period. 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 8 bps to 6.69%.
CALL MONEY/REPOS:
India's overnight call money rate was down 5 bps at
6.30% against 6.35% in the previous session. The overnight TREPS
rate was at 6.26%, compared with the previous
day's weighted average of 6.2697%.
(Reporting by Anushka Trivedi)
MUMBAI, March 2 (Reuters) -
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