Most of the funds were picked up by state-owned banks and insurance companies, said market participants
Yields declined on Monday tracking a drop in US yields, as traders turned optimistic on the Federal Reserve's rate cuts during the year after weaker-than-expected April nonfarm payrolls data
The benchmark 10-year yield ended at 7.1284%, following its previous close of 7.1068%, the lowest since April 10
Bond yields declined at the start of the week, as the government announced a surprise buyback of bonds worth Rs 40,000 crore ($4.79 billion)
The securities offered for buyback are 6.18% GS 2024, 9.15% GS 2024 and 6.89% GS 2025, the Reserve Bank of India said in a statement
The benchmark 10-year yield was at 7.1620% as of 10:00 a.m. IST, following its previous close of 7.1598%
The 10-year yield was around the crucial 4.60% mark, while the two-year yield, a closer indicator of interest rate expectations was around 4.95%
The benchmark 10-year Indian yield is likely to trade in a 7.16 per cent-7.21 per cent range, following its previous close at 7.1870 per cent, a trader with a primary dealership said
Bond yields declined in the first two days of the week, before giving up some of the fall on Wednesday, as oil prices and US yields continued to be around levels where a further upside is possible
The Reserve Bank on Friday announced the launch of a mobile app to enable retail investors to participate in government securities (G-Secs) or government bonds market. RBI Retail Direct Scheme, launched in November 2021, gives access to individual investors to maintain gilt accounts with the RBI and invest in government securities. The Scheme enables investors to buy securities in primary auctions as well as buy/sell securities through the Negotiated Dealing System - Order Matching system (NDS-OM) platform. "To further improve ease of access, a mobile application of the Retail Direct portal is being developed. The app will enable investors to buy and sell instruments on the go, at their convenience. The app will be available for use shortly," RBI Governor Shaktikanta Das said, while announcing the first bi-monthly monetary policy for the current fiscal. The government is planning for gross market borrowing of Rs 14.13 lakh crore for 2024-25. Out of this Rs 7.5 lakh crore, or 53 per
Since July 2021, the RBI has been conducting auctions for bonds, under uniform pricing, except for ultra-long duration bonds maturing in 30 years and beyond
The yield on the benchmark 10-year government bond fell by four basis points to settle at 7.05 per cent on Thursday, against 7.09 per cent on Wednesday
The cut-off yield on 10-year papers was set in the range of 7.44 per cent - 7.50 per cent on Tuesday, against 7.36 per cent - 7.41 per cent at the previous auction
The benchmark 10-year yield is expected to drift in the 7.03 per cent-7.07 per cent range, following its previous close of 7.0274 per cent, a trader with a private bank said.
Up to $3 bn inflows expected; they won't join Bloomberg Global Aggregate index
Foreign investors pumped in Rs 14,281 crore in domestic debt market in January
Earlier in the day, states raised Rs 16,000 crore ($1.92 billion), the lowest for a weekly auction, via 10-year bonds at around 7.74 per cent
Foreign portfolio investors bought a net 127.2 billion rupees ($1.53 billion) of bonds in November, the highest since June 2017, data from Clearing Corp of India showed
But bond yields may not rise if the inclusion is deferred as the market has not rallied in anticipation, Karyatt added
The inflows will add to the RBI's challenge of keeping liquidity on a leash even as it may need to buy dollars to prevent a sharp appreciation in the rupee