Bond yields traded lower on Tuesday after the Reserve Bank of India (RBI) decided to conduct purchase Government securities under Open Market Operations for an aggregate amount of Rs 150 billion on March 10, 2016. Meanwhile, international rating agency Fitch maintained India's growth forecast at 7.5 percent for the financial year 2015-16 and projecting the GDP growth of 7.7 per cent in the FY2017, which is 0.3 per cent lower than its December forecast of 8 per cent.
In the global market, U.S. Treasury prices fell on Monday in volatile trading as oil prices surged in the wake of a strong February U.S. jobs report, reducing demand for safe-haven government debt ahead of a European Central Bank meeting later in the week. Furthermore, Brent crude oil prices dipped early on Tuesday, but remained over $40 a barrel after jumping to a 2016-high the previous session as more producers announced talks to support the market and as investors opened new bets on further price rises.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 7.62% from its previous close at 7.63% on Friday.
The benchmark five-year interest rates were trading flat from its previous close at 7.76% on Friday.
The Reserve Bank of India has announced the auction of 91-days and 182-days Government of India Treasury Bills for notified amount of Rs 8,000 crore and Rs 6,000 crore respectively. The auction will be conducted on March 09, 2016 using 'Multiple Price Auction' method.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: