Indian shares trade higher with the broader NSE index up 0.6 percent as foreign fund inflows help blue-chips such as Tata Consultancy Services gain; Maruti Suzuki surges after Credit Suisse raises its target price to 3,500 rupees from 3,020 rupees.
India’s benchmark 10-year bond yield up 1 basis point at 8.53 percent as foreign investors sold debt worth $82.14 million on Thursday after posting their biggest purchase in a single session on Wednesday.
The partially convertible rupee little changed at 60.46/47 per dollar against its Friday’s close of 60.4650/4750 as expectations of RBI intervention cap broader dollar gains.
The benchmark five-year swap rate unchanged at 8.01 percent and the one-year rate down 1 basis point at 8.43 percent.
India’s cash rate a little higher at 8.05/8.10 percent against Friday’s close of 7.95/8.00 percent.
---------------------- Double click on codes in Reuters MIOR/MIBOR NSE MIBID/MIBOR Reuters Corporate Bond Yield/Spread For Reuters Benchmarks (Compiled by Dipika Lalwani)