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

BY Reuters | ECONOMIC | 12/01/22 02:38 AM EST

MUMBAI, Dec 1 (Reuters) - STOCKS: The benchmark BSE Sensex rose 313.55 points, or 0.5%, to 63,413.2, while the broader NSE index 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 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 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 was down 6 bps at 6.61%, while the benchmark five-year swap rate fell 4 bps to 6.28%. CALL MONEY/REPOS: India's overnight call money rate was down 10 bps at 5.65%. The overnight TREPS rate was at 5.65%, compared with the previous day's weighted average of 5.6576%. (Reporting by Anushka Trivedi in Mumbai)

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

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