June 13, 2013 / 12:00 PM / 5 years ago

SNAPSHOT-India stocks, bonds, rupee, swaps, call at close

    Indian shares fell for a third consecutive session to close
at their lowest level since April 17, after Apollo Tyres slumped
as its proposed $2.5 billion offer for Cooper Tire raised
concerns about higher debt, while Sun Pharma fell after it
agreed to pay $550 million to Pfizer to settle a patent suit.
The benchmark BSE index fell 1.12 percent, while the
broader NSE index dropped 1.06 percent. 
    Indian bonds fell as dealers chose to focus on the central
bank's upcoming rate decision, ignoring the government's move to
allow foreigners to invest more in rupee-denominated debt. The
benchmark 10-year bond yield ended up 4 basis points (bps) at
7.33 percent. 
    Indian rupee recovered a large part of its losses, helped by
dollar sales from a corporate and exporters, but disappointment
over lack of any specific measures from the government prevented
a further rise. The partially convertible rupee closed at
57.98/99 per dollar, off the day's low of 58.56 but still weaker
than Wednesday's close of 57.79/80.
    The one-year swap rate ended flat at 7.24 percent and the
five-year swap rate was 2 bps lower at 7.01 percent.
    India's overnight cash rate at 7.25/7.30 percent, versus
Wednesday's close of 7.20/7.25 percent. 
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  Reuters MIOR/MIBOR                                    
  NSE MIBID/MIBOR                                     
  Reuters Corporate Bond Yield/Spread             
  For Reuters Benchmarks                        

 (Compiled by Himank Sharma)
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