SNAPSHOT-India stocks, rupee, swaps, call at 3:30 p.m. IST

BY Reuters | ECONOMIC | 09/19/24 06:13 AM EDT

MUMBAI, Sept 19 (Reuters) - STOCKS: The benchmark BSE Sensex was up 0.4% at 83,106, while the broader NSE index advanced 0.3% to 25,449, buoyed by expectations of a rise in foreign inflows after the U.S. Federal Reserve started its monetary easing cycle with a large half-percentage-point rate reduction.

RUPEE: The Indian rupee rose 0.08% versus the U.S. dollar to 83.68 aided by likely portfolio inflows and a rally in the Chinese yuan after the Federal Reserve delivered a large 50-basis-point cut. GOVERNMENT BONDS: The benchmark 10-year bond was quoted at 102.41 rupees, with the yield hitting the lowest level in 31 months and down 3 bps at 6.7527%, 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 5.90% and the overnight TREPS rate was at 6.00%. (Reporting by Bhakti Tambe; Editing by Mrigank Dhaniwala)

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.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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