The Indian 10Y traded in a narrow range during the week with a flattish level between 7.27 and 7.29.
With the MPC meeting lined up for next week, the market will be closely monitoring RBI governor's speech and MPC committee's assessment of macro economic data.
Market participants expect Indian 10Y to trade in the range of 7.20 to 7.40.
Indian Debt
- The interbank call money rate ended at 6.85%.
- The Indian Government bond yield remained flat during the week as the market was closely monitoring the incoming GDP data for Q2 period.
- The yield of the 10-year benchmark 7.18% 2033 bond ended at 7.29%. The 10Y paper remained flat during the week from 7.27 to 7.29
| Debt Market Indicators |
Close |
Last week Close |
| Repo rate |
6.5 |
6.5 |
| 91 Days Tbill |
6.96 |
6.95 |
| 364 Days Tbill |
7.15 |
7.15 |
| 1 Y CP Rate |
7.85 |
7.85 |
| 1 Y CD Rate |
7.75 |
7.70 |
| 5 Y Gilt |
7.27 |
7.25 |
| 5 Y Corp bond |
7.85 |
7.80 |
| 10 Y Gilt |
7.29 |
7.27 |
| 10 Y Corp bond |
7.87 |
7.87 |
Market Trends
- The Indian rupee has appreciated by 5 paise during the week.
- The Rupee has remained flat during the week as it was supported by inflow of INR 11,627 Cr by FII in equity market.
- The Brent Crude remained in the narrow range of $80 to $83/barrel during the week. The OPEC+ meeting outcome could not fuel the rally in the Brent prices due to the disagreement amongst the members with respect to voluntary production cut and weakening the Global demand, especially from China.
| Indian Indicies |
Close |
Last week Close |
| Sensex |
66,988 |
66,000 |
| Nifty |
20,133 |
19,805 |
General News
- The Indian economy grew by 7.6 percent during the July - September quarter of the current fiscal year 2023-2024, remaining the fastest growing major economy in the world.
- The OPEC+ members have agreed to make additional voluntary cuts to oil production in 2024 in an attempt to bolster the market, but Crude prices fell due to the signs of ongoing dispute in the group.
| Gloabal Indices |
Close |
Last week close |
| DJIA |
35,950 |
35,273 |
| NASDAQ |
14,226 |
14,266 |
| US 10-Y |
4.33 |
4.47 |
| USD/INR |
83.30 |
83.35 |
| Brent (USD) |
80.50 |
81.50 |
Primary Issues
| Issuer Name |
Ratings |
Tenor |
Issue Size +
Greenshoe |
Open Date |
Exchange |
| DME Development Ltd |
CRISIL AAA |
15 Years |
1,000+2,000 Cr |
01-Dec-23 |
BSE |
| Bharti Telecom |
CRISIL AA+ |
5 Years |
2,000 Cr |
01-Dec-23 |
NSE |
Top Traded Bonds
The top traded bonds in the Market (Standard) lot during the week (27th Nov-1st Dec) are listed below:
| ISIN |
Security Name |
Volume (Cr) |
Avg. yield % |
| INE163N08206 |
7.12 ONGC Petro - C 02JAN24 M |
4,865.00 |
7.45 |
| INE556F08KL3 |
7.83 SIDBI 24NOV28 |
2,232.00 |
7.82 |
| INE053F08338 |
7.68 IRFC 24NOV26 |
1,025.00 |
7.69 |
| INE556F08KK5 |
7.79 SIDBI 19APR27 |
650.00 |
7.81 |
The top traded bonds in the Odd lot during the week (27th Nov-1st Dec) are listed below:
| ISIN |
Security Name |
Volume (Cr) |
Avg. yield % |
| INE860H07IS6 |
8.10 ABFL 09OCT33 |
19.046 |
8.14 |
| INE539K08237 |
8.15 CREDILA PERP 31JAN33 C |
18.00 |
8.24 |
| INE0M2307032 |
9.62 AP Bev 30MAY25 |
13.40 |
9.24 |
| INE053F07652 |
8.23 IRFC 18FEB24 |
12.60 |
5.94 |