Bond yields traded higher despite Department for Promotion of Industry and Internal Trade (DPIIT) data showing that foreign direct investment (FDI) equity inflows into India contracted by 60 per cent to $6.56 billion (Rs 49,820 crore) during April-June 2020.
In the global market, U.S. Treasury yields edged higher on Wednesday as comments from a flurry of Federal Reserve officials reinforced the central bank's recently announced policy stance. Furthermore, oil futures fell on concerns the economic recovery in the United States, the world's biggest oil consumer, is slowing as the coronavirus outbreak lingers and a resurgence in European cases led to new travel restrictions there.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 6.00% from its previous close of 5.99% on Wednesday.
The benchmark five-year interest rates were trading 3 basis points higher at 5.38% from its previous close of 5.35% on Wednesday.