MUMBAI, May 2 (Reuters) -

STOCKS:

The benchmark BSE Sensex rose 244.21 points, or 0.33%,

to 74,726.99, while the broader NSE index gained 80.8

points, or 0.36%, to 22,685.65, in line with Asian peers, after

a less hawkish U.S. Federal Reserve downplayed an interest rate

hike, while a drop in global oil prices helped cool domestic

inflation fears.

RUPEE:

The Indian rupee was flat versus the U.S. dollar, and

quoted at 83.44 as dollar demand from importers including local

oil companies offset positive cues from a rise in most Asian

peers.

GOVERNMENT BONDS:

The benchmark 10-year bond was quoted at 100.08

rupees, with the yield down 2 bps at 7.1657%, tracking a similar

move in U.S. Treasury yields.

OVERNIGHT INDEX SWAPS:

The one-year overnight index swap rate was up 1

bps at 6.85%, while the benchmark five-year swap rate

fell 2 bps to 6.54%.

CALL MONEY/REPOS:

India's overnight call money rate was down 20 bps at

6.45%. The overnight TREPS rate was at 6.35%,

compared with the previous day's weighted average of 6.6309%.

(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)