Weekly Market Highlights:
- 10 year 2034 Gsec yields fell by 3bps on weekly basis. Touched levels of 7.02% during the week.
- Weekly T-bill auction cut-off was closed on a flattish note.
- RBI cuts T-bill borrowings by 55% for remaining Q1Fy25.
- On 16th May 2024, GOI purchased Gsec worth Rs. 20 billion against a proposed amount of Rs. 600 billion for shorter maturing Gsecs.
- RBI proposed again to initiate purchase of shorter maturing Gsec on behalf of GOI worth Rs. 600 billion including FRBs for the first time in Fy25.
- INRBonds retail index declined by 4 bps on a weekly basis, in-line with Gsec movement.
- Weekly Gsec auction cut-off for 2034 and 2064 is 7.04% and 7.19% respectively.
- Domestic market liquidity deficit stood at Rs. 939 billion.
- UST 10 year yields traded on a flat note and closed at 4.42%.
Market Data | |||
Particulars | 17/5/2024 | 10/5/2024 | Change |
10 Yr Benchmark Gsec (%) | 7.05% | 7.08% | -3 bps |
Banking Liquidity (in Rs Billion) | -939 | -1773 | 47.04% |
5 Yr OIS (%) | 6.81% | 6.49% | 32 bps |
1 Yr OIS (%) | 6.41% | 6.83% | -42 bps |
INRBonds Retail High Yield Index | 9.59% | 9.63% | -4 bps |
Nifty | 22,482 | 22,055 | 1.93% |
10 Yr SDL | 7.43% | 7.42% | 1 bps |
91 Day T-Bill (%) | 6.99% | 7.00% | -1 bps |
182 Day T-Bill (%) | 7.08% | 7.08% | 0.45 bps |
10 Yr US Treasury Yield (%) | 4.42% | 4.50% | -8 bps |
US Junk Bond Yield (%) | 7.57% | 7.71% | -14 bps |
Brent Crude Oil (In USD per Barrel) | 84 | 82.78 | 1.47% |
Primary & Secondary Corporate Bonds Data | |||
Top 5 Secondary Retail Trades | Maturity | Yield | - |
HDFC BANK LIMITED | 02-06-2025 | 8.01% | |
BELSTAR MICROFINANCE LIMITED | 15-05-2026 | 9.97% | |
LARSEN AND TOUBRO LIMITED | 28-04-2028 | 7.58% | |
Embassy Office Parks REIT | 18-10-2026 | 8.20% | |
HDB FINANCIAL SERVICES LIMITED | 23-09-2025 | 8.15% | |
Currency Market Data | |||
Particulars | 17/5/2024 | 10/5/2024 | Change |
USD/INR | 83.3020 | 83.5500 | -0.30% |
DXY | 104.5000 | 105.3100 | -0.77% |
USD/ Brazil Real | 5.1300 | 5.1600 | -0.58% |
EUR/ USD | 1.0869 | 1.0772 | 0.90% |
USD/CNY | 7.2243 | 7.2300 | -0.08% |
USD/JPY | 155.6500 | 155.7800 | -0.08% |
USD/ Russian Ruble | 90.9500 | 91.6300 | -0.74% |