The interbank call money rate ended at 6.86%, while Indian government bond yields remained unchanged due to a shortened week. The 10-year benchmark 7.18% 2033 bond yield was 7.18%. The Indian rupee remained steady, while the US 10-year yield remained steady due to economic data suggesting a rate cut may take time. Brent remained in a tight range of 77-79 dollars due to global tensions and increased demand.
Indian Debt
- The interbank call money rate concluded at 6.86%.
- Indian government bond yields stayed unchanged this week as market activity was reduced owing to the shortened week.
- The yield on the 10-year benchmark 7.18% 2033 bond finished at 7.18%.
| Debt Market Indicators |
Close |
Last week Close |
| Repo rate |
6.50 |
6.50 |
| 91 Days Tbill |
7.02 |
6.97 |
| 364 Days Tbill |
7.17 |
7.15 |
| 1 Y CP Rate |
8.00 |
8.00 |
| 1 Y CD Rate |
7.90 |
7.90 |
| 5 Yr Gilt |
7.05 |
7.04 |
| 5 Yr Corp bond |
8.03 |
8.01 |
| 10 Yr Gilt |
7.18 |
7.19 |
| 10 Yr Corp bond |
7.89 |
7.87 |
Market Trends
- The Indian rupee remained steady this week due to the short working week.
- The US 10-year yield stayed steady over the period, as economic data provided indicated that rate cut in the United States may take some time.
- Brent stayed in a tight range of 77-79 dollars as global tensions and expectations of increased demand underpinned the price.
| Indian Indicies |
Close |
Last week Close |
| Sensex |
70,605.30 |
71,745.00 |
| Nifty |
21,332.50 |
21,625.00 |
General News
- In an unexpected move, China reduces RRR (Reserve Requirement Ratio) by 50 basis points.
- The United States will issue jobless claims on the eve of January 25, 2024.
| Global Indices |
Close |
Last week close |
| DJJA |
37,806.39 |
37,468.00 |
| NASDAQ |
15,481.92 |
15,055.00 |
| US 10-Y |
4.16 |
4.16 |
| USD/INR |
83.12 |
83.15 |
| Brent |
80.30 |
79.00 |
Primary Issues
| Issuer Name |
Ratings |
Tenor |
Isuue Size+Green Shoe (in crs) |
Open Date |
Exchange |
| ICICI Home Finance Limited |
CARE AAA |
2 Years |
300+250 |
25-Jan-24 |
BSE |
| Mahindra & Mahindra Financial Services Ltd |
CRISIL AAA |
3 Years |
500+2500 |
25-Jan-24 |
BSE |
Top Traded Bonds
The following are the most actively traded bonds on the Standard Market from 22nd to 25th Jan:
| ISIN |
Security Name |
Volume |
Avg yield |
| INE062A08413 |
8.34 SBI PERP 19JAN34 C |
1269.00 |
8.32 |
| INE261F08EF5 |
7.80 NABARD 15MAR27 |
875.00 |
7.77 |
| INE053F08353 |
7.57 IRFC 18APR29 |
815.00 |
7.60 |
| INE248U07EQ0 |
9.41 360 ONE PRIME LIMITED 18JAN2026 |
660.28 |
9.53 |
The following are the top-traded odd lot bonds from 22nd to 25th Jan:
| ISIN |
Security Name |
Volume |
Avg yield |
| INE248U07EW8 |
9.61 360 ONE PRIME LIMITED 18JAN2027 |
88.49 |
9.53 |
| INE248U07EQ0 |
9.41 360 ONE PRIME LIMITED 18JAN2026 |
45.38 |
9.26 |
| INE891K08174 |
8.38 AXIS FIN 11JAN34 |
29.00 |
8.36 |
| INE062A08413 |
8.34 SBI PERP 19JAN34 C |
27.00 |
8.32 |