10-year bond yield ends at 6.03%; lowest since budget day

Updated : April 08, 2021 04:27 PM IST

The 10-year benchmark bond yield on Thursday settled at 6.03 percent as against the previous close of 6.08 percent.

The 10-year benchmark bond yield on Thursday settled at 6.03 percent as against the previous close of 6.08 percent. This is the lowest level since budget day i.e. February 1, 2021.

The Indian rupee also nosedived 11 paise on Thursday to end at 74.59 per dollar, its biggest single-session drop since November 4 against the US currency.

The fall came after the Reserve Bank of India (RBI) on Wednesday kept key interest rates unchanged at record lows while pledging to buy Rs 1 lakh crore of government bonds this quarter to cap borrowing costs in a bid to support an economy facing a resurgence of the pandemic.

In the first quarter (Q1), the central bank will be conducting G-SAP aggregating Rs 1 lakh crore, where the first purchase of Rs 25,000 crore will be done on April 15.

The announcements of liquidity infusion into the market via the bond program had set the rupee sliding, according to analysts. Market analysts believe that the RBI stuck to a loose monetary policy to ensure liquidity in the market over the long term.

Meanwhile, foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 227.42 crore on Wednesday, according to exchange data.

Published : April 08, 2021 03:59 PM IST

10-year bond yield ends at 6.03%; lowest since budget day

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