The Indian 10Y has remained flattish during the week in the trading range of 7.15-7.19. Market participants will closely monitor the RBI's Monetary Policy Committee minutes, set to be released on the eve of 22nd December. The US 10Y rates have remained flattish, while the Brent prices have been affected due to tension growing in Red sea after the Houthi attacks on the commercial oil vessels.
Indian Debt
- The interbank call money rate ended at 6.80%.
- The Indian Government bond yield remained flat during the week.
- The yield of the 10-year benchmark 7.18% 2033 bond ended at 7.19%.
| Debt Market Indicators |
Close |
Last week Close |
| Repo rate |
6.50 |
6.50 |
| 91 Days Tbill |
6.94 |
6.98 |
| 364 Days Tbill |
7.11 |
7.19 |
| 1 Y CP Rate |
7.90 |
7.90 |
| 1 Y CD Rate |
7.80 |
7.80 |
| 5 Y Gilt |
7.10 |
7.12 |
| 5 Y Corp bond |
8.05 |
8.05 |
| 10 Y Gilt |
7.19 |
7.19 |
| 10 Y Corp bond |
7.85 |
7.85 |
Market Trends
- The Indian rupee depreciated by 3 paise during the week.
- The US 10Y moved down by 4bps during the week, as market anticipates rate cuts in 2024.
- Brent Crude traded at $80/barrel owing to the geopolitical tension in Red sea where Houthi is attacking the commercial vessels, which has forced transporters to re-route their course.
| Indian Indicies |
Close |
Last week Close |
| Sensex |
71,045 |
70,807 |
| Nifty |
21,295 |
21,275 |
General News
- The market will keenly monitor the RBI MPC minutes which will be released on 22nd December.
- The US GDP grew by 4.9% in Q3 which was a notable increase from 2.1% in the previous quarter but fell slightly short of the estimated 5.2% growth.
| Global Indices |
Close |
Last week close |
| DJIA |
37,404 |
37,248 |
| NASDAQ |
14,963 |
14,761 |
| US 10-Y |
3.91 |
3.95 |
| USD/INR |
83.27 |
83.30 |
| Brent (USD) |
80 |
77 |
Primary Issues
| Issuer Name |
Ratings |
Tenor |
Issue Size +
Greenshoe |
Open Date |
Exchange |
| Veritas Finance Pvt Ltd |
CARE A+ |
3.5 Years |
55+0 Cr |
22-Dec-23 |
BSE |
| Bajaj Finance Ltd |
CRISIL AAA |
3 Years |
600+3,000 Cr |
22-Dec-23 |
BSE |
Top Traded Bonds
The top traded bonds in the Market (Standard) lot during the week (18th-22nd Dec) are listed below:
| ISIN |
Security Name |
Volume (Cr) |
Avg. yield % |
| INE261F08DR2 |
7.20 NABARD 23SEP25 |
700.00 |
7.80 |
| INE556F08JZ5 |
7.15 SIDBI 21JUL25 |
665.00 |
7.80 |
| INE261F08DD2 |
5.27 NABARD 29APR24 |
655.00 |
7.85 |
| INE153A08170 |
7.80 MTNL 07NOV33 |
633.00 |
7.85 |
The top traded bonds in the Odd lot during the week (18th-22nd Dec) are listed below:
| ISIN |
Security Name |
Volume (Cr) |
Avg. yield % |
| INE860H07IS6 |
8.10 ABFL 09OCT33 |
33.414 |
8.13 |
| INE06E507165 |
10.57 HELLA INFRA PVT LTD 23NOV25 |
32.11 |
15.70 |
| INE06E507157 |
10.47 HELLA INFRA PVT LTD 23FEB25 |
25.76 |
12.67 |
| INE891F08026 |
8.74 RRVUNL 26MAR27 |
19.60 |
9.31 |