Weekly Market Highlights:
- The 10 year 2034 G-sec yield closed at 6.81% this week vs 6.72% last week.
- The highly anticipated RBI MPC meeting is set to commence on 7th October, with 3 new members. The RBI’s policy stance will play a crucial role in driving G-Secs.
- The Government has announced a buyback of securities of 2025-26 maturities aggregating to Rs. 25,000 Cr.
- 3M and 6M T-bill auction data yields were stable at 6.47% and 6.72% respectively.
- The INR Bonds high yield Index stood at 9.907% down 2 bps fortnightly.
- The 10Y UST surged 22 bps to 3.97%, as US Nonfarm payroll data for September came in at 254,000 exceeding expectations of 150,000.
- The US unemployment rate fell 0.1% with a strong household employment gain of 430,000.
- Oil prices are surging as tensions escalate in the Middle East. Brent Crude has risen by 8.5% over the past week, with markets factoring in potential supply disruptions from the region, which is responsible for about one-third of the world's oil supply.
Market Data | |||
Particulars | 5/10/2024 | 27/9/2024 | Change |
10 Yr Benchmark Gsec (%) | 6.81% | 6.72% | 9 bps |
Banking Liquidity (in Rs Billion) | 288.36 | 44.34 | 550.34% |
5 Yr OIS (%) | 6.14% | 6.03% | 11 bps |
1 Yr OIS (%) | 6.45% | 6.40% | 5 bps |
INRBonds Retail High Yield Index | 9.91% | 9.91% | 0 bps |
Nifty | 25,015 | 26,179 | -4.45% |
10 Yr SDL | 7.10% | 7.10% | 0 bps |
91 Day T-Bill (%) | 6.47% | 6.65% | -17 bps |
182 Day T-Bill (%) | 6.56% | 6.72% | -15.93 bps |
10 Yr US Treasury Yield (%) | 3.97% | 3.75% | 22 bps |
US Junk Bond Yield (%) | 6.74% | 6.76% | -2 bps |
Brent Crude Oil (In USD per Barrel) | 78.09 | 71.98 | 8.49% |
Primary & Secondary Corporate Bonds Data | |||
Top 5 Secondary Retail Trades | Maturity | Yield | - |
12.25% Midland Microfin Limited | 19/3/2026 | 12.67% | |
10.11% Spandana Sphoorty Financial Limited | 18/12/2025 | 11.72% | |
10.50% Satin Creditcare Network Limited | 4/1/2027 | 11.69% | |
10.30% Indostar Capital Finance Limited | 25/9/2027 | 10.85% | |
11.65% Berar Finance Limited | 23/4/2026 | 11.50% | |
Currency Market Data | |||
Particulars | 5/10/2024 | 27/9/2024 | Change |
USD/INR | 84.03 | 82.723 | 1.58% |
DXY | 102.52 | 100.42 | 2.09% |
USD/ Brazil Real | 5.32 | 5.3 | 0.38% |
EUR/ USD | 1.0976 | 1.1163 | -1.68% |
USD/CNY | 7.0176 | 7.011 | 0.09% |
USD/JPY | 148.71 | 142.19 | 4.59% |
USD/ Russian Ruble | 95.007 | 94.3107 | 0.74% |
Public Issuance - UGRO Capital | |||
Series | I | II | III |
Coupon Frequency | Monthly | Monthly | Monthly |
Face Value | 1000 | 1000 | 1000 |
Tenor | 18 Months | 24 Months | 30 Months |
Coupon | 10.15% | 10.25% | 10.4%% |
Effective Yield | 10.64% | 10.75% | 10.91% |
Base Issue | Rs. 100 Cr. | ||
Green Shoe Option | Rs. 100 Cr. | ||
Total Issue Size | Rs. 100 Cr. | ||
Credit Rating | India Ratings A+/Stable | ||
Issue Open | 10/10/2024 | ||
Issue Close | 23/10/2024 | ||
Type of Issue | Secured Redeemable NCD | ||
Buyback of G-Secs | |||
Amount | Rs. 25,000 Cr. | ||
Security | Date of Maturity | ||
7.72% GS 2025 | 25/05/2025 | ||
5.22% GS 2025 | 15/06/2025 | ||
8.20% GS 2025 | 24/09/2025 | ||
5.15% GS 2025 | 09/11/2025 | ||
7.59% GS 2026 | 11/01/2026 | ||