STOCKS-----------------------
The BSE index fell 0.58 percent and the 50-share NSE indexalso declined 0.64 percent after S&P warned about a possibledowngrade in India's credit rating, reiterating its June stanceif growth prospects and external position worsen, or fiscalreforms slow.
GOVERNMENT BONDS
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India's benchmark 10-year bond yield
up 2basis points at 8.16 percent from Tuesday's close on S&P report.RUPEE--------------
USD/INR at 53.09/10 versus its previous close of 52.72/73,after S&P warns of a "significant chance" that political,economic, fiscal or external factors could eventually lower thecredit rating on India downgrade.
INTEREST RATE SWAPS
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India's benchmark 5-year OIS up 1 bp at 6.97 percent. The1-year rate up 3 bp at 7.60 percent.
CALL MONEY--------------------
India's one-day cash rate was steady at 8.05-8.10 percent.
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)(Compiled by Manoj Dharra)
((swati.bhat@thomsonreuters.com)(+91-22-61807353)(Reuters
Messaging: swati.bhat.thomsonreuters.com@reuters.net))
Keywords: INDIA SNAPSHOT/