SNAPSHOT-India stocks, rupee, swaps, call at 1:00 p.m. IST

MUMBAI, Sept 19 (Reuters) - STOCKS: The benchmark BSE Sensex was up 0.4% to 83,275, while the broader NSE index advanced 0.2% to 25,436, after hitting record highs earlier in the day as the U.S. Federal Reserve started its monetary easing cycle with a large 50-basis-point rate cut.

RUPEE: The Indian rupee rose 0.2% versus the U.S. dollar to 83.59 as the Fed kicked off policy easing with a 50-basis-point rate cut, but traders expect importer dollar bids to limit the currency's immediate gains. GOVERNMENT BONDS: The benchmark 10-year bond was quoted at 102.50 rupees, with the yield hitting lowest level in 31 months and down 4 bp at 6.74%, as traders resumed bond purchases in the wake of a bumper rate cut from the U.S. central bank.

OVERNIGHT INDEX SWAPS: The one-year overnight index swap rate was down 2 basis points 6.37%, while the five-year swap rate was marginally lower at 5.9625%.

CALL MONEY: India's overnight call money rate was at 6.70%, up 10 basis points and the overnight TREPS rate was at 6.61%. (Reporting by Dharamraj Dhutia)