INR bounces, 10 year G sec yield hits two week top

Published on Dec 28, 2023 17:24

The Indian Rupee rebounded today on sustained firm action in equities. INR currently quotes jumped 17 paise at 83.17 per US dollar. On the NSE, the USDINR futures for January 2024 are neared 83.25, down around 0.22% on the day. Meanwhile, the benchmark indices ended a volatile session with modest gains on Thursday. The Nifty closed above the 21,750 mark. Oil & gas, auto and metal shares advanced while IT and consumer durables stocks declined. Trading was volatile due to December F&O series expiry. INR has been supported by weakness in crude oil and a marginal uptick in the G sec yields. The benchmark 10-year 7.18% G-sec 2033 bond yield quotes have neared 7.20% - highest in nearly two weeks.