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SNAPSHOT-India stocks, bonds, rupee, swaps, call at 0448 GMT
May 12, 2014 / 5:02 AM / 3 years ago

SNAPSHOT-India stocks, bonds, rupee, swaps, call at 0448 GMT

STOCKS

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The benchmark BSE index is higher 1.42 percent and the broader NSE index up 1.32 percent, after hitting record highs as blue chips including ICICI Bank rally on hopes that exit polls due after the close of markets would show the opposition Bharatiya Janata Party winning a majority in elections.

GOVERNMENT BONDS

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India’s benchmark 10-year bond yield falls 3 bps to 8.72 percent on hopes that exit polls later in the day would show the Bharatiya Janata Party winning a majority, as the opposition party is seen by markets as being more investor friendly.

RUPEE

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The partially convertible rupee rallies to its strongest level against the dollar since July 2013 on widespread hopes that exit polls later on Monday would show the opposition Bharatiya Janata Party winning a majority in the country’s elections. It hits 59.51 per dollar, the strongest level since July 29, 2013, compared with its 60.02/03 close on Friday.

INTEREST RATE SWAPS

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The benchmark five-year swap rate is down 2 bps at 8.23 percent, while the one-year rate unchanged at 8.51 percent.

CALL MONEY

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India’s cash rate is at 8.60/8.65 percent versus previous close of 8.70/8.75 percent.

---------------------- Double click on codes in Reuters MIOR/MIBOR NSE MIBID/MIBOR Reuters Corporate Bond Yield/Spread For Reuters Benchmarks (Reporting by Indulal PM)

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