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SNAPSHOT-India stocks, bonds, rupee, swaps, call at close
June 20, 2013 / 12:37 PM / 4 years ago

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

STOCKS  
    -----------------------
    Indian shares fell more than 2 percent on Thursday, the most
in a day in nearly 21 months as blue chips slumped after the
U.S. Federal Reserve signalled a tapering of its monetary
stimulus, stoking fears of portfolio outflows. The benchmark BSE
index dropped 2.74 percent, while the broader NSE index fell
2.86 percent. 
    
    GOVERNMENT BONDS 
    --------------------------------
    Indian government bonds slumped as the rupee's steep fall to
a record low raised concerns about continued foreign selling at
a time when emerging markets are under pressure after the Fed 
decision. The benchmark 10-year bond yield closed at 7.39
percent, up 13 basis points (bps), its biggest single-day rise
since April 20, 2012. 
    
    RUPEE 
    --------------
    The Indian rupee slumped to a record low of 59.9850 on
Thursday as the country's record high current account deficit is
exacerbating its vulnerability in an emerging market rout,
although interventions by the central bank prevented further
falls. The partially convertible rupee closed at 59.57/58 per
dollar, against its previous close of 58.71/72. It fell to
59.9850 during the session, breaching its previous record low of
58.98 touched on June 11. 
    
    INTEREST RATE SWAPS  
    -------------------------------------
    The longer-end five-year swap rate ended up 30 bps at 7.25
percent, its biggest single-day rise since July 29, 2008. The
one-year rate closed 24 bps higher at 7.44 percent, its biggest
single-day gain since July 26, 2011.

    CALL MONEY 
    --------------------      
    India's one-day cash rate at 7.20/7.25 percent, compared
with Wednesday close of 7.25/7.30 percent. 
    
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 (Compiled by Himank Sharma)

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