STOCKS:
The benchmark BSE Sensex fell 289.31 points, or 0.5%,
to 57,925.28, while the broader NSE index lost 80.25
points, or 0.47%, to 17,071.65, after the U.S. Federal Reserve
reiterated its fight against inflation with a quarter-point rate
hike and the treasury secretary ruled out insuring all banking
deposits. RUPEE:
The Indian rupee strengthened 0.48% versus the U.S.
dollar, and quoted at 82.2625 per dollar, as investors
anticipated that the Federal Reserve was near the end of its
rate hiking cycle. GOVERNMENT BONDS:
Benchmark 10-year bond was quoted at 99.45
rupees, with yield down 1 bps at 7.3402%, mirroring their U.S.
counterparts, after the Fed raised interest rates by an expected
25 basis points, but signalled it was nearing a pause in further
increases. OVERNIGHT INDEXED SWAPS:
The one-year overnight indexed swap rate was down
4 bps at 6.69%, while the benchmark five-year swap rate fell 6 bps to 6.22%.
CALL MONEY/REPOS:
India's overnight call money rate was down 70 bps at
6.00% against 6.70% in the previous session. The overnight TREPS
rate was at 6.25%, compared with the previous
day's weighted average of 6.6477%.
(Reporting by Anushka Trivedi)
(.)
MUMBAI, March 23 (Reuters) -
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