The interbank call money rate ended at 6.75%, while Indian government bond yields moved down by 15 bps after the interim budget was announced during the week. The 10-year benchmark 7.18% 2033 bond yield ended at 7.03%. The Indian rupee appreciated, while the US 10-Y yield depreciated as the US FED did not announce any major policy statements. Brent prices remained tight in a range of 78-80$ due to global tensions and increasing demand.
Indian Debt
- The interbank call money rate concluded at 6.75%.
- The Indian Government 10 Y bond yield moved down by 15 bps after the interim budget announcement from the Finance Minister.
- The yield on the 10-year benchmark 7.18% 2033 bond finished at 7.03%.
| Debt Market Indicators |
Close |
Last week Close |
| Repo rate |
6.5 |
6.5 |
| 91 Days Tbill |
7.04 |
7.02 |
| 364 Days Tbill |
7.15 |
7.17 |
| 1 Y CP Rate |
8.00 |
8.00 |
| 1 Y CD Rate |
7.90 |
7.90 |
| 5 Y Gilt |
6.98 |
7.05 |
| 5 Y Corp bond |
7.95 |
8.03 |
| 10 Y Gilt |
7.03 |
7.18 |
| 10 Y Corp bond |
7.75 |
7.89 |
Market Trends
- The Indian rupee appreciated by 26 paise as the government decided to follow the path of fiscal prudence and fresh inflows from the FII in equity segment.
- The US 10Y moved down by 20 bps as there were no major policy statement from the FED.
- Brent prices have remained in a tight range of 78-80$ as the geopolitical tension between Israel and Hamas seems to be reaching at ceasefire.
| Indian Indices |
Close |
Last week Close |
| Sensex |
72,157.00 |
70,605.30 |
| Nifty |
21,866.00 |
21,332.50 |
General News
- The Indian Finance minister announced the fiscal deficit target for FY 2024-25 will be at 5.1% of the GDP.
- The US announced no change in rate in its policy meeting. Going forward, the rate cuts will depend on the incoming economic data.
| Global Indices |
Close |
Last week close |
| DJIA |
38,519.00 |
37,806.39 |
| NASDAQ |
15,361.00 |
15,481.92 |
| US 10-Y |
3.89 |
4.09 |
| USD/INR |
82.86 |
83.124 |
| Brent |
79 |
80.297 |
Primary Issues
| Issuer Name |
Ratings |
Tenor |
Issue Size +
Green Shoe (in crs) |
Open Date |
Exchange |
| Nomura Capital Pvt Ltd |
IND AAA |
2.25 Years |
50+50 |
02-Feb-24 |
NSE |
| G R Infraprojects Ltd. |
CARE AA+ |
5 Years |
100+0 |
02-Feb-24 |
BSE |
Top Traded Bonds
The following are the most actively traded bonds on the Standard Market from 29th Jan to 2nd Feb:
| ISIN |
Security Name |
Volume (Cr) |
Avg. yield% |
| INE040A08AF2 |
7.75 HDFC BANK 13JUN33 |
1,425 |
7.78 |
| INE040A08948 |
7.79 HDFC BANK 04MAR25 |
900 |
8.19 |
| INE153A08170 |
7.80 MTNL 07NOV33 |
836.50 |
7.87 |
| INE261F08EF5 |
7.80 NABARD 15MAR27 |
815 |
7.73 |
The following are the top-traded odd lot bonds from 29th Jan to 2nd Feb:
| ISIN |
Security Name |
Volume (Cr) |
Avg. yield% |
| INE306N07NS8 |
8.0980 TATA CAPITAL 22JAN27 |
15.23 |
8.19 |
| INE084A08169 |
8.57 BOI PERP 02DEC27 |
12.00 |
8.53 |
| INE414G07IG9 |
8.43 MUTHOOT FINANCE 31JUL26 |
10.00 |
8.54 |
| INE101Q07AO2 |
10.00 MUTHOOT MINI 31DEC25 |
9.24 |
10.93 |