The benchmark BSE index up 2.3 percent and the broader NSE index 2.32 percent higher, near record high on hopes the opposition Bharatiya Janata Party would win a majority in the elections set to conclude next week, sending blue chips such as ICICI Bank sharply higher.
The 10-year benchmark bond yield down 3 basis points at 8.73 percent, tracking an overnight fall in crude oil prices and ahead of the election outcome next week. Trading will be range-bound with traders watching the outcome of the 160 billion rupees debt sale later in the day for cues.
The rupee little changed at 60.01/02 versus Thursday’s close of 60.0650/0750, tracking an over 2 percent surge in domestic stocks.
The benchmark five-year swap rate down 2 basis points at 8.25 percent, and the one-year rate 2 basis points lower at 8.51 percent.
India’s cash rate at 8.0/8.10 percent versus its previous close of 7.00/7.10 percent.
---------------------- Double click on codes in Reuters MIOR/MIBOR NSE MIBID/MIBOR Reuters Corporate Bond Yield/Spread For Reuters Benchmarks (Compiled by Abhishek Vishnoi)