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Benchmark bond yield rises sharply after govt plans to hike borrowing

Traders said yields could rise further in the absence of any immediate support from the central bank in the form of an open market calendar

Bond Yields | Market news

Reuters  |  Mumbai 

India's benchmark 10-year bond yield rose sharply on Monday morning following the government's decision to increase market borrowing on the back of the coronavirus outbreak. The government plans to borrow 12 trillion rupees ($160 billion) in the fiscal year to March 2021, up from the previously budgeted 7.8 trillion rupees, to cushion the blow from the pandemic, it said on Friday. ALSO READ: MARKET LIVE: Sensex off day's high, up 200 points; Auto stocks in focus The benchmark 10-year bond yield rose as much as 27 basis points to 6.24% and was last trading at ...

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First Published: Mon, May 11 2020. 12:46 IST