印度卢比衡量投资组合流量，债券收益率转移将持续。交易员表示，印度卢比将衡量本周与美国贸易政策相关的投资组合流动和发展，而债券收益率可能会继续转移。

Indian rupee to gauge portfolio flows, diversion in bond yields to persist.The Indian rupee will gauge portfolio flows and developments related to U.S. trade policies this week, while bond yields are likely to continue their diversion, traders said.

印度BSE Sensex指数周五收于82189点，上涨约0.9%，创下自5月23日以来的最大单日涨幅，并将连胜延续至连续三天。印度储备银行出人意料地将基准政策回购利率下调50个基点，降至5.5%，同时将现金储备比率下调100个基点至3%，这提振了市场情绪。然而，全球贸易的不确定性仍然令人谨慎。银行、房地产、汽车和耐用消费品等对利率敏感的行业引领了广泛的反弹。涨幅最大的股票包括Bajaj Finance（+5%）、Axis Bank（+3.1%）、IndusInd Bank（+2.4%）、Bajaj Finserv（+2.2%）、Maruti（+2.6%）和塔塔钢铁（+2.1%）。Sun Pharma（-0.4%）和Bharti Airtel（-0.1%）是唯一的落后者。本周，该指数上涨0.9%，连续第三周上涨。

India's BSE Sensex closed about 0.9% higher at 82,189 on Friday, marking its largest daily gain since May 23 and extending its winning streak to three consecutive days. Market sentiment was lifted by the RBI’s surprise 50 basis point cut to the benchmark policy repo rate, bringing it down to 5.5%, along with a 100 basis point reduction in the cash reserve ratio to 3%. However, global trade uncertainties remained a source of caution. Rate-sensitive sectors such as banking, real estate, automobiles, and consumer durables led the broad-based rally. Top gainers included Bajaj Finance (+5%), Axis Bank (+3.1%), IndusInd Bank (+2.4%), Bajaj Finserv (+2.2%), Maruti (+2.6%) and Tata Steel (+2.1%). Sun Pharma (-0.4%) and Bharti Airtel (-0.1%) were the only laggards. For the week, the index added 0.9%, marking its 3rd straight weekly rise.

在孟买，孟买敏感指数周五上涨735点，涨幅0.90%。Bajaj Finance（4.90%）、Indusind Bank（4.30%）和Axis Bank（3.15%）领涨。最大的输家是塔塔钢铁（-0.97%）、巴蒂电信（-0.46%）和太阳制药（-0.24%）。

In Mumbai, the SENSEX Index gained 735 points or 0.90 percent on Friday. Gains were led by Bajaj Finance (4.90%), Indusind Bank (4.30%) and Axis Bank (3.15%). Biggest losers were Tata Steel (-0.97%), Bharti Airtel (-0.46%) and Sun Pharmaceuticals (-0.24%).

随着交易员评估印度储备银行（RBI）的最新政策举措，10年期印度G-Sec的收益率进一步降至略低于6.24%，为2021年9月以来的最低水平。良性通胀为央行提供了行动空间，促使其政策利率意外下调50个基点至5.5%，并降低了现金储备率，旨在提高流动性，保护经济免受全球波动的影响。印度储备银行已将本财政年度的通胀前景从早些时候的4%下调至3.7%，同时将全年GDP预测维持在6.5%。与此同时，印度储备银行将其政策立场从“宽松”转变为“中立”，行长Malhotra指出，未来的决策将取决于数据。央行一直在向商业银行注入流动性，以应对其卢比防御造成的融资条件收紧和储备枯竭。

The yield on the 10-year Indian G-Sec eased further to just below 6.24%, its lowest since September 2021, as traders assessed the latest policy move by the Reserve Bank of India (RBI). Benign inflation gave the central bank room to act, prompting a surprise 50 basis point cut to its policy rate to 5.5% and a reduction in the cash reserve ratio, aimed at boosting liquidity and shielding the economy from global volatility. The RBI had revised its inflation outlook to 3.7% in the current financial year, down from its earlier figure of 4%, while maintaining its full-year GDP estimate at 6.5%. Meanwhile, the RBI shifted its policy stance from "accommodative" to "neutral," with Governor Malhotra noting that future decisions will be data-dependent. The central bank has been delivering liquidity injections to commercial banks in response to tightened financing conditions and depleted reserves caused by its rupee defense.