Bond yields edged lower on Thursday amid a private report stating that financials, information technology (IT) and fast-moving consumer goods (FMCG) stocks accounted for most of the sell-off by foreign portfolio investors (FPIs) during the first fortnight of October.
In the global market, Treasury yields fell again on Wednesday, as markets absorbed housing sector data and paid close attention to earnings reports, scanning the numbers for hints about a looming recession. Furthermore, oil prices rose on Wednesday finding support from a retreat in the U.S. dollar, following official government data showing a weekly rise in crude supplies, along with a drop in gasoline stockpiles.
Back home, the yields on new 10 year Government Stock were trading 4 basis points lower at 7.40% from its previous close of 7.44% on Wednesday.
The benchmark five-year interest rates were trading 2 basis points lower at 7.31% from its previous close of 7.33% on Wednesday.