Indian shares trade higher with the broader NSE index up 0.27 percent, tracking Asian shares and as state-run oil companies gain ahead of ONGC results due later in the day.
India’s new 10-year bond yield down 3 basis points at 8.59 percent and the existing 10-year benchmark bond yield 2 bps lower at 8.83 percent, as brent crude slips to a 13-month low. However, caution remains after CPI rises more than expected in July, hitting a two-month high.
The partially convertible rupee weaker at 61.22/23 per dollar against the previous close of 61.08/09, as a higher-than-expected jump in CPI hurts sentiment for the rupee.
The benchmark 5-year swap rate and the 1-year rate both unchanged at 8.14 percent and 8.50 percent, respectively.
India’s cash rate little changed at 8.15/8.20 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)