Oct 16 (Reuters) – STOCKS: The benchmark BSE Sensex was up 1.04% at 83,467.66, while the broader NSE Nifty 50 index advanced 1.03% at 25,585.3, led by Nestle's India unit and Axis Bank after their earnings, while rate-sensitive sectors rallied on growing expectations of a rate cut. RUPEE: The Indian rupee rose 0.29% versus the U.S. dollar to 87.82, as firm central bank intervention in the previous session and nascent optimism above U.S.-India trade negotiations helped the local currency find its footing on the stronger side of the 88-handle. GOVERNMENT BONDS: The benchmark 10-year bond was quoted at 98.855 rupees, with the yield up over 1 basis point at 6.4921% as traders booked profit ahead of debt supply. OVERNIGHT INDEX SWAPS: The one-year overnight index swap rate was up over 1 basis p

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