Rupee bond traders will watch if a 320b rupee bond sale on Friday will dampen a rally in the nation’s debt this week that was led by short-covering and demand from banks.
- 10-year yields fell 5bps to 7.11% on Wednesday, they’re down 11bps so far this week
- USD/INR dropped 0.4% to 76.2100 on Wednesday.
- Global funds sold net Rs 3,010 crore of Indian stocks Wednesday: NSE
- They sold Rs 370 crore of sovereign bonds under limits available to foreign investors, and withdrew Rs 332 crore of corporate debt
- State-run banks sold Rs 2,800 crore of sovereign bonds on April 20: CCIL data. Foreign banks bought Rs 52.48 crore of bonds.