Bond yields were trading higher on Friday, as traders took some support with survey showing that India's PMI data for November indicated that the Indian service sector continued to strengthen, with a substantial upturn in new orders underpinning output growth. Posting 58.1 in November, down only fractionally from 58.4 in October, the seasonally adjusted India Services Business Activity Index pointed to the second-fastest rise in output since July 2011.
In the global market, U.S. Treasury yields rose on Thursday as investors returned to riskier assets and Federal Reserve officials talked up a quicker end to the central bank's bond purchases. Furthermore, Oil prices climbed, extending gains after OPEC+ said it would review supply additions ahead of its next scheduled meeting if the Omicron variant hits demand, but prices were still on course for a sixth week of declines.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 6.37% from its previous close of 6.35% on Thursday.
The benchmark five-year interest rates were trading 2 basis points higher at 5.72% from its previous close of 5.70% on Thursday.