Bond yields traded higher on Thursday after commerce ministry in its preliminary data has indicated that India's exports rose by 22.36 per cent to $33.81 billion in February 2022 on account of healthy growth in sectors like engineering, petroleum and chemicals.
In the global market, U.S. Treasury yields rose from eight-week lows on Wednesday as Federal Reserve Chairman Jerome Powell supported the U.S. central bank raising rates this month, while being flexible in response to the Russia-Ukraine war's impact on the economy. Furthermore, oil prices extended their rally, with Brent rising above $116 a barrel, as trade disruption and shipping issues from Russian sanctions over the Ukraine crisis sparked supply worries while U.S. crude stocks fell to multi-year lows.
Back home, the yields on new 10 year Government Stock were trading 3 basis points higher at 6.84% from its previous close of 6.81% on Wednesday.
The benchmark five-year interest rates were trading 4 basis points higher at 6.13% from its previous close of 6.09% on Wednesday.