MUMBAI, March 21 (Reuters) - STOCKS:

The benchmark BSE Sensex rose 532.17 points, or 0.74%,

to 72,633.86, while the broader NSE index gained 155.25

points, or 0.71%, to 21,994.35, after the U.S. Federal Reserve

maintained its projection of three rate cuts this year, with

metals leading the charge on the back of a softer U.S. dollar.

RUPEE:

The Indian rupee strengthened 0.12% versus the U.S.

dollar, and quoted at 83.07 per dollar, after the U.S. Federal

Reserve kept its rate projections for 2024 unchanged, prompting

investors to raise bets on the possibility of the first rate cut

coming in June.

GOVERNMENT BONDS:

The benchmark 10-year bond was quoted at 100.75

rupees, with the yield down 2 bps at 7.0686%, tracking a similar

move in U.S. yields, after Fed maintains 2024 rate outlook.

OVERNIGHT INDEX SWAPS:

The one-year overnight index swap rate was

unchanged at 6.73%, while the benchmark five-year swap rate

fell 1 bps to 6.35%.

CALL MONEY/REPOS:

India's overnight call money rate was up 30 bps at

6.75%. The overnight TREPS rate was at 6.75%,

compared with the previous day's weighted average of 6.4947%.