Bond yields traded lower on Thursday, on expectation that Prime Minister Narendra Modi-led alliance will come back to power for a second five-year term.
In the global market, US Treasury yields fell on Wednesday, pressured by worsening trade tensions between the United States and China after a private report said the Trump government is considering limits to Chinese video surveillance firm Hikvision's ability to buy American technology. Furthermore, Oil prices dropped, extending falls from the previous session amid surging US crude inventories and weak demand from refineries.
Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 7.24% from its previous close of 7.26% on Wednesday.
The benchmark five-year interest rates were trading 1 basis point lower at 6.98% from its previous close of 6.99% on Wednesday.