Indian shares fall, with the broader NSE index down 0.86 percent on profit-taking after the budget due to lack of major reforms and few details on fiscal deficit. Caution also prevails as most Asian shares fall.
India’s benchmark 10-year bond yield up 6 basis points at 8.83 percent, as caution sets in ahead of the 150-billion-rupee ($2.49 billion) debt sale later in the day.
The partially convertible rupee trading stronger at 60.10/11 a dollar versus Thursday’s close of 60.19/20, as some selling seen by a large corporate firm.
The benchmark five-year swap rate up 3 bps at 7.88 percent, while the one-year rate gains 2 bps to 8.38 percent.
India’s cash rate higher at 8.50/8.55 percent versus Thursday’s close of 8.20/8.30 percent.
---------------------- Double click on codes in Reuters MIOR/MIBOR NSE MIBID/MIBOR Reuters Corporate Bond Yield/Spread For Reuters Benchmarks (Compiled by Dipika Lalwani)