The benchmark BSE index down 0.08 percent and the broader NSE index 0.12 percent lower, tracking weakness in Asian peers on fears of an escalating Ukraine crisis and as India is likely to have below-average monsoon rainfall in 2014, raising the possibility that a drought could stoke inflation.
The benchmark 10-year bond yield down 1 basis point at 8.84 percent ahead of the 160-billion-rupee ($2.62 billion) bond auction later in the session.
The rupee trading weaker at 61.12/13 per dollar compared with its close of 61.07/08 on Wednesday, tracking weakness in domestic stocks. Month-end dollar demand from oil importers also weighs.
The benchmark five-year rate up 2 bps at 8.42 percent, while the one-year rate gains 1 bp at 8.61 percent.
India’s cash rate higher at 8.60/8.65 percent against Wednesday’s close of 7.10/7.15 percent.
---------------------- Double click on codes in Reuters MIOR/MIBOR NSE MIBID/MIBOR Reuters Corporate Bond Yield/Spread For Reuters Benchmarks (Compiled by Dipika Lalwani)