The benchmark BSE index ended up 0.60 percent and the broader NSE index closed 0.56 percent higher, as lenders such as Axis Bank rallied ahead of their financial results starting later this week, while strong gains in debt markets reduced concerns about potential losses in the sector’s bond portfolios.
India’s benchmark 10-year bond yield ended up 1 basis point at 8.86 percent as investors booked profits after a powerful rally sent the benchmark 10-year yield to a three-month low in the previous session.
The Indian rupee ended weaker at 60.59/60 versus Thursday’s close of 60.29/30, on good dollar demand from oil and gas importers.
The benchmark five-year rate ended down 1 basis point at 8.43 percent and the one-year closed unchanged at 8.58 percent.
India’s cash rate ended higher at 9.15/9.20 percent versus Thursday’s close of 8.20/8.30 percent.
---------------------- Double click on codes in Reuters MIOR/MIBOR NSE MIBID/MIBOR Reuters Corporate Bond Yield/Spread For Reuters Benchmarks (Compiled by Dipika Lalwani)