India stocks, rupee, swaps, call at 10 a.m. IST

STOCKS:

The benchmark BSE Sensex SENSEX rose 303.73 points, or 0.48%, to 63,403.38, while the broader NSE index NIFTY gained 110.25 points, or 0.59%, to 18,868.6, tracking the sharp gains in global equities after Federal Reserve Chair Jerome Powell hinted at slowing the pace of interest rate hikes "as soon as December."

RUPEE:

The Indian rupee USDINR strengthened 0.37% versus the U.S. dollar, and quoted at 81.12 per dollar, amid a rally in Asian currencies after Powell's comments were viewed as dovish.

GOVERNMENT BONDS:

The benchmark 10-year bond (IN072632G=CC) was quoted at 100.06 rupees, with the yield down 3 bps at 7.2490% vs previous close of 7.2798% and tracking a similar move in U.S. peers, after Powell's comments.

OVERNIGHT INDEXED SWAPS:

The one-year overnight indexed swap rate (INRAMONMI1Y=) was down 6 bps at 6.61%, while the benchmark five-year swap rate (INRSMONMI5Y=) fell 4 bps to 6.28%.

CALL MONEY/REPOS:

India's overnight call money (INROND=) rate was unchanged at 5.75%. The overnight TREPS rate (INTREPTOT=TCCL) was at 5.62%, compared with the previous day's weighted average of 5.6576%.