India stocks, rupee, swaps, call at 1 p.m. IST

STOCKS:

The benchmark BSE Sensex SENSEX rose 313.55 points, or 0.5%, to 63,413.2, while the broader NSE index NIFTY gained 84.05 points, or 0.45%, to 18,842.4, tracking a global rally 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 0.32% to 81.1650 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 100.20 rupees, with the yield down 5 bps at 7.2287%, as stop losses of short sellers were triggered, leading to a fresh round of purchases.

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 down 10 bps at 5.65%. The overnight TREPS rate (INTREPTOT=TCCL) was at 5.65%, compared with the previous day's weighted average of 5.6576%.