India’s NSE index is down 0.33 percent, dragged down by IT stocks as HCL Technologies slumps after June-quarter revenue disappoints investors while caution prevails ahead of the expiry of monthly derivatives contracts.
India’s soon-to-be benchmark 10-year bond yield down 2 basis points at 8.49 percent, while the existing benchmark 10-year bond yield down 1 basis point at 8.72 percent. A fall in global crude oil prices and some bargain-buying seen helping the new 10-year paper after yields rose 8 bps on Wednesday.
The partially convertible rupee falls to 60.36/37 after upbeat U.S. GDP data and month-end dollar demand also weigh.
The benchmark five-year swap rate is down 2 bps at 7.88 percent, while the one-year rate lower 4 bps at 8.35 percent.
India’s cash rate is at 8.10/8.20 percent against Wednesday’s close of 7.00/7.05 percent.
---------------------- Double click on codes in Reuters MIOR/MIBOR NSE MIBID/MIBOR Reuters Corporate Bond Yield/Spread For Reuters Benchmarks (Compiled by Dipika Lalwani)