STOCKS:
The benchmark BSE Sensex rose 555.95 points, or 0.91%,
to 61,749.25, while the broader NSE index gained 165.95
points, or 0.92%, to 18,255.8, as sustained buying by foreign
investors forces investors to cover their short positions. RUPEE:
The Indian rupee strengthened 0.02% to 81.79 per U.S.
dollar, as likely dollar purchases by the Indian central bank
offset foreign inflows into the domestic equity market. GOVERNMENT BONDS:
The benchmark 10-year bond was quoted at 101.57
rupees, with the yield up 3 bps at 7.0325% after
weaker-than-expected demand at the debt auction. OVERNIGHT INDEXED SWAPS:
The one-year overnight indexed swap rate was up 2
bps at 6.56%, while the benchmark five-year swap rate rose 2 bps to 5.98%.
CALL MONEY/REPOS:
India's overnight call money rate was down 65 bps at
6%. The overnight TREPS rate was at 6.70%,
compared with the previous day's weighted average of 6.7231%.
(Reporting by Nallur Sethuraman in Mumbai)
(.)
MUMBAI, May 4 (Reuters) -
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