Indian shares trade higher with the broader NSE index up 0.16 percent after hitting a record high in early trade, tracking global shares.
India’s benchmark 10-year bond yield down 1 basis point at 8.50 percent even after RBI announces revised framework for liquidity management as traders say the measures will not lead to more liquidity injections.
The partially convertible rupee stronger at 60.47/48 per dollar against its previous close of 60.67/68. Earlier in the day, it rose to as high as 60.3750, its strongest since July 31, after Bloomberg quoted an analyst at Standard & Poor’s calling the Indian government’s target to lower the fiscal deficit a positive for the country’s ratings.
The benchmark five-year swap rate down 3 bps at 8.00 percent, while the one-year rate lower 2 bps at 8.44 percent.
India’s cash rate at 8.00/8.05 percent against Thursday’s close of 7.70/7.75 percent.
---------------------- Double click on codes in Reuters MIOR/MIBOR NSE MIBID/MIBOR Reuters Corporate Bond Yield/Spread For Reuters Benchmarks (Compiled by Dipika Lalwani)