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MUMBAI, June 2 (Reuters) - STOCKS:

The benchmark BSE Sensex .BSESN was up 0.4% to 74,557, while the broader NSE Nifty 50 .NSEI rose 0.24% to 23,438, with IT stocks leading gains on hopes of demand from AI spending, while heavyweight HDFC Bank jumped 1% to lead an intraday recovery. .BO

RUPEE:

The Indian rupee INR=IN declined 0.2% versus the U.S. dollar to 95.18, pressured by weakness in local stocks and elevated importer hedging as volatile oil prices kept investors on edge amid uncertainty over U.S.-Iran peace talks. INR/

GOVERNMENT BONDS:

The benchmark 10-year bond IN064835G=CC was quoted at 96.43 rupees, with the yield 1.5 bps lower at 7.0054%, after comments from U.S. President Donald Trump on Iran aided sentiment. IN/

OVERNIGHT INDEX SWAPS:

The one-year overnight index swap rate INR1YMIBROIS=CC was down 2.75 basis points at 6.0850%, while the five-year swap rate INR5YMIBROIS=CC declined 4.25 bps to 6.6025%.

CALL MONEY:

India's overnight call money rate INROND= was at 5.00%, and the overnight TREPS rate INTREPTOT=TCCL was at 5.28%