Bond yields traded lower on Monday despite National Securities Depository (NSDL) showing that foreign portfolio investors (FPIs) have remained net buyers in Indian stock markets for the fifth straight month. FPIs bought Indian stocks worth Rs 7,936 crore, Rs 11,631 crore, Rs 43,838 crore, Rs 47,148 crore, and Rs 46,618 crore in March, April, May, June, and July, respectively.
In the global market, the 10-year Treasury yield pulled back Friday, after briefly hitting a multimonth high, as investors digested key labor market data that showed the economy added fewer-than-expected jobs in July. Furthermore, oil prices rose more than a dollar a barrel on Friday to record a sixth consecutive week of gains, after top producers Saudi Arabia and Russia extended supply cuts through September, adding to undersupply concerns.
Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 7.17% from its previous close of 7.19% on Friday.
The benchmark five-year interest rates were trading 2 basis points lower at 7.15% from its previous close of 7.17% on Friday.
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