Weekly Market Highlights:
- 10 year 2034 Gsec yields closed at 6.94%, down by 3 bps on weekly basis,after the central bank proposed a draft circular aimed at improving liquidity management for banks.
- Weekly Gsec auction cut-off for the 2029, 2039 and 2064 stood at 6.8279%, 6.9758% and 7.0686% respectively.
- 3M and 6M T-bill auction data yields were at 6.71% and 6.82% respectively, down by 3 bps on a weekly basis.
- Union budget 2024-25 positive for the bond market with a lower fiscal deficit estimate at 4.9% of GDP and borrowing further reduced to Rs.14.01 trillion.
- Proposed capital gains taxation of 20% and 12.5% respectively expected to drive money into the bond market.
- Domestic market liquidity deficit stood at Rs.85.92 billion.
- The INR Bonds high yield Index stood at 9.77% down 2 bps biweekly basis.
- The US 10-year fell by 4.61 bps to 4.19% as the US PCE price index climbed 2.5% after a 2.6% rise in May.
Market Data | |||
Particulars | 26/7/2024 | 19/7/2024 | Change |
10 Yr Benchmark Gsec (%) | 6.94% | 6.97% | -3 bps |
Banking Liquidity (in Rs Billion) | -85.92 | -139.48 | 38.40% |
5 Yr OIS (%) | 6.26% | 6.30% | -4 bps |
1 Yr OIS (%) | 6.70% | 6.72% | -2 bps |
INRBonds Retail High Yield Index | 9.77% | 9.77% | 0 bps |
Nifty | 24,834 | 24,531 | 1.24% |
10 Yr SDL | 7.36% | 7.35% | 1 bps |
91 Day T-Bill (%) | 6.71% | 6.74% | -3 bps |
182 Day T-Bill (%) | 6.82% | 6.85% | -2.61 bps |
10 Yr US Treasury Yield (%) | 4.19% | 4.24% | -4.61 bps |
US Junk Bond Yield (%) | 7.32% | 7.30% | 2 bps |
Brent Crude Oil (In USD per Barrel) | 81.3 | 82.58 | -1.55% |
Primary & Secondary Corporate Bonds Data | |||
Top 5 Secondary Retail Trades | Maturity | Yield | - |
10.25% Navi Finserv Ltd | 15/9/2025 | 11.33% | |
9.95% Indostar Capital Finance Ltd | 28/11/2026 | 9.95% | |
12% Annapurna Finance Ltd | 24/1/2030 | 11.27% | |
10.75% Spandana Sphoorty Financial Ltd | 21/12/2026 | 11.65% | |
9.2% Shriram Finance Ltd | 22/5/2029 | 9.14% | |
Currency Market Data | |||
Particulars | 26/7/2024 | 19/7/2024 | Change |
USD/INR | 83.724 | 83.7298 | -0.01% |
DXY | 104.33 | 104.36 | -0.03% |
USD/ Brazil Real | 5.69 | 5.63 | 1.07% |
EUR/ USD | 1.0856 | 1.0885 | -0.27% |
USD/CNY | 7.2511 | 7.2696 | -0.25% |
USD/JPY | 153.77 | 157.48 | -2.36% |
USD/ Russian Ruble | 86.1075 | 87.6963 | -1.81% |