Bond yields ended higher, as Industry chamber Ficci in its latest quarterly survey (Q2) has said that the outlook for increased manufacturing activities in the second quarter of this fiscal (Q2FY22) has been significantly improved, though the cost of doing business and production is rising.
In the global market, the benchmark U.S. 10-year Treasury yield rose on Friday following its biggest two day drop in about three weeks after economic data indicated high inflation could persist for some time. Furthermore, oil prices climbed to a one-week high in a second straight session of gains as concerns over U.S. supplies following damage from Hurricane Ida supported the market, along with expectations for higher demand.
Back home, the yields on new 10-year Government Stock were ended 2 basis points higher at 6.19% from its previous close of 6.17% on Friday.
The benchmark five-year interest rates were ended 2 basis points higher at 5.62% from its previous close of 5.60% on Friday.