卢比的反弹可能会延续积极的亚洲信号，流入希望。周五，印度卢比升至数月高点的势头可能会进一步扩大，这得益于亚洲同行的广泛上涨和预期的投资组合流入。

Rupee's rally likely to extend on positive Asian cues, inflow hopes.The Indian rupee's ascent to multi-month highs may extend further on Friday, supported by a broad uptick in Asian peers and anticipated portfolio inflows.

5月初，10年期印度G-Sec的收益率降至6.35%，为三年多来的最低水平，因为较低的利率和流动性注入继续支持印度债券市场，扩大了与美国同行的分离。印度储备银行在将基准回购利率保持在6.5%的四年多来高点整整一年后，连续下调基准回购利率，试图阻止国内增长放缓。在为卢比辩护耗尽了国内储备并收紧了融资条件后，央行还向商业银行注入了一系列流动性。预计央行将继续降息，因为最新的通胀数据显示，物价增长降至五年多来的低点。与此同时，卢比停止了抛售，允许外国投资者重新考虑购买印度债券，在星展银行和摩根大通将外国固定收益证券纳入基金后，重新引发了外国对国内固定收益证券的流入。

The yield on the 10-year Indian G-Sec fell was at 6.35% at the turn of May, the lowest in over three years, as lower interest rates and liquidity injections continued to support the Indian bond market, extending the detachment from US counterparts. The RBI delivered back-to-back cuts to its benchmark repo rate after holding it at the over-four-year high of 6.5% for one full year, attempting to halt the slowdown in domestic growth. The central bank also delivered a series of liquidity injections into commercial banks after the its defense of the rupee drained domestic reserves and tightened financing conditions. The central bank is expected to continue cutting rates as the latest inflation data showed that price growth fell to an over five-year low. In the meantime, the rupee halted its selloff and allowed foreign investors to reconsider buying Indian bonds, reigniting foreign inflows into domestic fixed-income securities following their inclusion in funds by DBS and JPMorgan.

印度BSE Sensex指数周三微跌至80242.2点，投资者在最近的反弹后喘了口气，并将利润记录在更高的水平。与巴基斯坦的边境紧张局势继续影响市场情绪，而市场参与者也关注财报季和即将公布的美国经济数据。Bajaj Finserv股价下跌超过5%，此前该公司3月份的季度业绩令投资者失望，尽管其净利润和收入同比增长14%。塔塔汽车公司、巴贾吉金融公司、印度工业银行、印度国家银行和UltraTech水泥公司是其他落后者。相比之下，制药、石油和天然气、快速消费品、房地产和能源行业出现了增长。4月份，该指数上涨3.7%，因对美印贸易协议持乐观态度，外国资金持续流入。印度股市周四将因假期休市，5月2日周五恢复交易。

India's BSE Sensex closed marginally down at 80,242.2 on Wednesday, as investors took a breath after the recent rally and booked profit at higher levels. Border tensions with Pakistan continued to weigh on sentiment, while market participants also focused on the earnings season and upcoming economic data from the US. Bajaj Finserv slumped over 5%, after the company’s March quarter results disappointed investors despite showing a 14% year-on-year growth in both net profit and revenue. Tata Motors, Bajaj Finance, IndusInd Bank, State Bank of India and UltraTech Cement were among the other laggards. In contrast, gains were seen in pharma, oil & gas, FMCG, realty, and energy sectors. For April, the index gained 3.7% amid optimism around a US-India trade deal and sustained foreign inflows. Indian markets will be closed for a holiday on Thursday, resuming trade on Friday, May 2nd.

美元走软、资金流入和出口对冲帮助卢比度过动荡的一个月。4月份，印度卢比顶住了美国贸易政策的反复波动和印巴紧张局势等多重阻力，在流入股市和出口商增加美元销售的背景下走强。

Softer dollar, inflows and exporter hedging help rupee brave turbulent month.The Indian rupee braved multiple headwinds in April including U.S. trade policy flip-flops and India-Pakistan tensions to come out stronger on the back of inflows into equities and as exporters ramped up dollar sales.