MUMBAI, May 2 (Reuters) -

STOCKS:

The benchmark BSE Sensex rose 128.33 points, or 0.17%,

to 74,611.11, while the broader NSE index gained 32.55

points, or 0.14%, to 22,637.4, after a less hawkish U.S. Federal

Reserve downplayed an interest rate hike, while a drop in global

oil prices also helped cool domestic inflation fears.

RUPEE:

The Indian rupee weakened 0.05% versus the U.S. dollar,

and quoted at 83.47 per dollar, despite an uptick in its Asian

peers as dollar demand from foreign banks weighed on the rupee

alongside importers' hedging demand.

GOVERNMENT BONDS:

The benchmark 10-year bond was quoted at 100.07

rupees, with the yield down 2 bps at 7.1676%, as U.S. yields

decline, while focus shifts to jobs data due on Friday.

OVERNIGHT INDEX SWAPS:

The one-year overnight index swap rate was down 2

bps at 6.82%, while the benchmark five-year swap rate

fell 5 bps to 6.51%.

CALL MONEY/REPOS:

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

6.45%. The overnight TREPS rate was at 6.15%,

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