MUMBAI, May 9 (Reuters) - STOCKS
The benchmark BSE index closed up 2.91 percent and the broader NSE index 2.99 percent higher, at record highs on hopes the opposition Bharatiya Janata Party would win a majority in the elections that end next week, sending blue chips such as ICICI Bank sharply higher.
The 10-year benchmark bond yield ended down 1 basis point at 8.75 percent, after earlier hitting a near two-month low of 8.72 percent on hopes that BJP may win a majority in the general elections.
The rupee ended at 60.02/03 versus Thursday’s close of 60.0650/0750, gaining for a second consecutive session on Friday to a near one-month high, sparking suspected central bank intervention after shares surged to a record high.
The benchmark five-year swap rate ended 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 8.70/8.75 percent versus its previous close of 7.00/7.10 percent.
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