The yield on the new Benchmark 10-Year Bond Ended at 6.2046%, Compared with the Previous Close of 6.2107%. The 2034 bond yield ended at 6.2539% after settling at 6.2520% on Friday.
Yields on the bonds rose to 6.2270% and 6.2812%, respectively, in opening deals.
Bond Yields Move Inversive to Pries.
The reserve bank of India’s board approved the transfer of 2.69 trillion Rupees ($ 31.6 billion) as surplus to the federal government for the fiscal year ended march, up from 2.11 trome 2.11 trome 2.11 trillion Rupees in the previous Year, it said on Friday.
Market Participants Had Expected The Amount to Cross 3 Trillion Rupees.
Investors Await India’s Economic Growth Data DUE on Friday. The economy likely green 6.7% in January – March, up from 6.2% in the Previous Quarter, According to a Reuters Poll.
This would be followed by the Central Bank’s Monetary Policy Decision on June 6, When a Third Consective Rate Cut is widely expected.
The RBI has cut the policy repo rate by 50 basis points since April and has infused Around $ 100 billion in the last six months.
“Even thought we see a liquidity delovege in the coming months, we do not see it impeding a June rate cut or depth of the easy of the Easing Cycle. Arora, Chief Economist at Emkay Global Financial Services.
Rates the Near-Ed overnight index swap (OIS) Rate Were Largely Unchanged, with the One-EEAR OIS Rate Ending at 5.53%, While The Two-EEAR OIS RATE WAS AT 5.44%.
The most liquid five-yar Dipped slightly to 5.62%. ($ 1 = 85.0960 Indian Rupees) (Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)