MUMBAI (Reuters) - India's benchmark 10-year bond yield briefly rose 5 basis points to 8.70 percent from pre-policy levels after the central bank announced a 50 basis points cut in banks' statutory liquidity ratio starting June 14.
Yields, however, retreated on the back of the dovish policy tone, dealers said. Yield had ended at 8.66 percent on Monday.
The partially convertible rupee briefly trimmed losses to 59.16 per dollar from 59.20 beforehand.
The BSE Sensex extended gains and was up 0.3 percent from being flat before the policy review.
(Reporting by Swati Bhat; Editing by Anupama Dwivedi)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app