尽管存在关税相关风险，但卢比连续第二天上涨，押注短期反弹。周三，印度卢比收盘走高，尽管大多数亚洲货币下跌，市场参与者押注该单位将在短期内复苏，而美元指数疲软和当地股市强劲也提振了市场情绪。

Rupee up for second day on bets of short-term rebound despite tariff-related risks.The Indian rupee ended higher on Wednesday even as most Asian currencies fell, with market participants betting on the unit staging a recovery in the near term, while weakness in the dollar index and strong local shares also aided sentiment.

由于预计印度储备银行将支持债券市场，印度10年期G-Sec的收益率从8月26日的四个月高点6.63%降至6.56%。市场停止了债券抛售，因为越来越多的人押注印度储备银行将在二级市场购买债券，或在拍卖中拒绝低价竞标，以遏制自8月以来G-Secs的暴跌。商业银行的警告进一步支持了这一预期，即它们将无法吸收新国债的大规模发行。8月，10年期G-Sec的收益率飙升至30个基点，因为美国50%的关税威胁到了印度经济增长和财政整顿的前景，迫使政府减税以支持经济。因此，市场下调了印度储备银行今年再次降息的预期。这些赌注被最新的GDP数据所巩固，该数据显示年增长率为7.8%，远高于6.7%的预期。

The yield on the Indian 10-year G-Sec fell to 6.56% from the four-month high of 6.63% on August 26th amid expectations of bond market support by the Reserve Bank of India. Markets halted their bond selloff amid growing bets that the RBI would buy bonds in the secondary market or reject low bid in auctions to contain the plunge in G-Secs since August. The expectations were further supported by warnings from commercial banks that they will not be able to absorb larger issuance in new state bonds. The yield in the 10-year G-Sec surged up to 30bps in August as the 50% tariffs from the US threatened the outlook of Indian growth and fiscal consolidation, driving the government to cut taxes to support the economy. Consequently, markets trimmed expectations of another rate cut by the RBI this year. These bets were consolidated by the latest GDP data, which showed an annual expansion of 7.8%, well above expectations of 6.7%.

外汇策略师表示，印度卢比将避免近期进一步大幅下跌。根据路透社对外汇分析师的调查，印度卢比在本周跌至88美元兑1美元后，将避免进一步大幅下跌，但超过三分之一的人预计，只要美国对印度商品征收高额关税，印度卢比将跌至90美元兑1美元。

Indian rupee to avert further major declines in near-term, FX strategists say.The Indian rupee will avoid a further dramatic slide after falling through 88 per U.S. dollar this week, according to a Reuters poll of foreign exchange analysts, but over one-third expect the currency to drift toward 90 as long as hefty U.S. tariffs on Indian goods stay in force.

BSE Sensex指数几乎持平，在周三上午的震荡交易中交易于80185点左右，因为交易员在今天开始的关键商品及服务税（GST）委员会会议之前保持谨慎，预计该会议将实施减税。制药和能源股的上涨帮助抵消了科技和房地产板块的下跌。交易员们也在等待本周晚些时候公布的美国就业数据，这可能会影响美联储本月的货币政策决定。然而，由于贸易政策和利率的持续不确定性，华尔街隔夜收盘走低。在国内，最终数据显示，印度私营部门的增长略有下调，但仍标志着17年来最强劲的扩张，这是由制造业和服务业的强劲增长推动的。在股票特定走势中，塔塔钢铁上涨1.7%，JSW钢铁上涨1.2%，印度工业银行上涨1.0%，而印孚瑟斯和Bharti Airtel分别下跌1.2%和0.7%。

The BSE Sensex was nearly flat, trading around 80,185 in a choppy session on Wednesday morning, as traders remained cautious ahead of a key Goods and Services Tax (GST) Council meeting starting today, which is expected to deliver tax rate cuts. Gains in pharmaceutical and energy stocks helped offset declines in the tech and real estate sectors. Traders also awaited US jobs data due later this week, which could influence the Federal Reserve’s monetary policy decision this month. However, Wall Street closed lower overnight amid persistent uncertainty around trade policy and interest rates. Domestically, final data showed that India’s private sector growth was revised slightly lower but still marked the strongest expansion in over 17 years, driven by robust growth in both manufacturing and services. In stock-specific moves, Tata Steel rose 1.7%, JSW Steel gained 1.2%, and IndusInd Bank climbed 1.0%, while Infosys and Bharti Airtel fell by 1.2% and 0.7%, respectively.