Bond yields traded lower on Tuesday, ahead of an open market purchase of notes by the Reserve Bank of India.
In the global market, US Treasury yields fell on Monday as traders stepped back into the bond market following last week's sell-off to reduce their bearish positions and hedge against any surprises in the U.S. congressional elections. Furthermore, oil prices slipped as concerns that an economic slowdown may curb fuel demand growth overshadowed the reintroduction of sanctions on Iran.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 7.80% from its previous close of 7.81% on Monday.
The benchmark five-year interest rates were trading 8 basis points lower at 7.71% from its previous close of 7.79% on Monday.