The BSE Sensex rose 0.46% to 84,950.95, while the broader NSE Nifty 50 index gained 0.4% to 26,013.45, as investors remained optimistic following a September-quarter earnings season that concluded without any major disappointments.
Rupee Stabilizes Amid Modest Dollar Inflows
The Indian rupee strengthened 0.13% against the U.S. dollar to 88.63, supported by modest dollar inflows. The currency managed to hold its ground despite persistent importer hedging demand and data showing India’s trade deficit reached a record high in October.
Government Bonds and Yields
The benchmark 10-year government bond (IN063335G=CC) was quoted at 98.5075 rupees, with yields up roughly 2 basis points at 6.5435%. Analysts noted that the Reserve Bank of India’s recent bond purchases appeared primarily aimed at replacing maturing holdings rather than actively suppressing yields.
Overnight Index Swaps and Call Money Rates
- The one-year overnight index swap rate (INR1YMIBROIS=CC) remained largely flat at 5.47%.
- The five-year swap rate (INR5YMIBROIS=CC) rose 2 basis points to 5.755%.
- India’s overnight call money rate stood at 5.24%, while the overnight TREPS rate was at 5.12%.
Investors will continue to monitor macroeconomic data and RBI policy signals as markets digest recent developments.