STOCKS:
The benchmark BSE Sensex fell 102.89 points, or 0.18%,
to 58,111.7, while the broader NSE index lost 71.3
points, or 0.42%, to 17,080.6, after the Federal Reserve
reiterated its fight against inflation even as it signalled it
might soon pause interest rate hikes and as the U.S. treasury
secretary ruled out insuring all banking deposits. RUPEE:
The Indian rupee strengthened 0.44% versus the U.S.
dollar, and quoted at 82.28 per dollar, after the U.S. Federal
Reserve hiked interest rates by 25 basis points (bps), as
expected, but signalled the monetary tightening cycle may be
coming to a close. GOVERNMENT BONDS:
Benchmark 10-year bond was quoted at 99.55
rupees, with yield down 2 bps at 7.3256%; vs previous close of
7.3495%, tracking fall in U.S. yields, after Fed hinted at end
of rate hike cycle soon. OVERNIGHT INDEXED SWAPS:
The one-year overnight indexed swap rate was down
6 bps at 6.67%, while the benchmark five-year swap rate fell 9 bps to 6.19%.
CALL MONEY/REPOS:
India's overnight call money rate was unchanged at
6.70% against 6.70% in the previous session. The overnight TREPS
rate was at 6.65%, compared with the previous
day's weighted average of 6.6477%.
(Reporting by Dharamraj Dhutia)
(.)
MUMBAI, March 23 (Reuters) -
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