Indian shares trade lower with the broader NSE index down 0.08 percent, as blue chip stocks led the fall sucha as Bharat Heavy Electricals Ltd plunged after its earnings missed some analysts’ estimates.
India’s new 10-year bond yield down 8 basis points at 8.54 percent and the existing 10-year benchmark bond yield 8 bps lower at 8.77 percent, as traders cite expectations CPI will ease after hitting a two-month high in July and some consolidation seen after the spike in yields.
The partially convertible rupee weaker at 61.26/27 per dollar against the previous close of 61.08/09, on global risk aversion.
The benchmark 5-year swap rate down 2 basis points at 8.12 percent and and the 1-year rate falls 1 basis point 8.49 percent.
India’s cash rate little changed at 8.10/8.15 percent against previous close of 8.00/8.10 percent.
---------------------- Double click on codes in Reuters MIOR/MIBOR NSE MIBID/MIBOR Reuters Corporate Bond Yield/Spread For Reuters Benchmarks (Compiled by Dipika Lalwani)