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Stocks: The Indian stock market displayed signs of resilience as the benchmark BSE Sensex rose by 173.22 points, equivalent to a 0.26% gain, reaching 66,118.69. Simultaneously, the broader NSE index, Nifty, gained 51.75 points, or 0.26%, closing at 19,716.45. These positive movements were partly attributed to a global market recovery that instilled a sense of stability among investors. However, Vedanta faced a setback after Moody’s downgraded its parent company.

Rupee: The Indian rupee, represented by USDINR, demonstrated strength against the U.S. dollar, registering a 0.02% increase and trading at 83.22 per dollar. This performance was noteworthy given the weakness seen in other Asian currencies. The Reserve Bank of India’s likely intervention by selling dollars played a crucial role in preventing the rupee from plunging to new all-time lows.

Government Bonds: The benchmark 10-year government bond was quoted at 100.06 rupees, with the yield rising by 3 basis points to 7.1704%. The government maintained its second-half borrowing plan, which influenced these bond market dynamics.

Overnight Index Swaps: The one-year overnight index swap rate remained unchanged at 7.02%, while the benchmark five-year swap rate increased by 1 basis point to 6.72%.

Call Money/Repos: India’s overnight call money rate experienced a 10 basis point increase, reaching 6.80%. Additionally, the overnight TREPS rate stood at 6.77%, compared to the previous day’s weighted average of 6.7589%.

In summary, the Indian financial landscape witnessed a mix of positive and cautious sentiments. The stock market exhibited resilience amid global recovery trends, the rupee stood firm despite regional weaknesses, and government bonds saw yield adjustments in response to unchanged borrowing plans. Overnight index swaps and call money rates also witnessed some fluctuations. These dynamics provide valuable insights into the current economic climate and investor sentiment.