Indian shares edge up, with the NSE index up 0.83 percent, as blue-chips such as Larsen and Toubro Ltd gain after foreign investors bought Indian shares worth 1.36 billion rupees ($22.25 million) on Wednesday.
The benchmark 10-year bond yield down 1 basis point at 8.49 percent, as traders say Fed’s decision to leave U.S. rates low for “a considerable time” was expected. U.S. Treasuries fall, the dollar ticks higher after Fed review.
The partially convertible rupee is weaker at 61.11/12 per dollar, compared with its previous close of 60.92/93, tracking a fall in Asian currencies as the dollar surges after the U.S. Fed indicated it could raise borrowing cost faster than expected when it starts moving.
The benchmark 5-year swap rate and the one-year rate both steady at 7.94 percent and 8.43 percent, respectively.
India’s cash rate higher at 8.00/8.05 percent against the previous close of 7.95/8.00 percent. (1 US dollar = 61.1300 Indian rupee) (Compiled by Dipika Lalwani)