Bond yields traded higher on Tuesday as Ministry of Finance showed that India's net direct tax collections from April 1 to December 17 (FY23-24) rose 20.7 percent on-year to Rs 13.70 lakh crore. Within overall direct tax collections, corporate tax mop-up amounted to Rs 6.95 lakh crore, while personal income tax and securities transaction tax together came in at Rs 6.73 lakh crore.
In the global market, the 10-year Treasury note yield rose Monday to start the last full trading week of 2023. Furthermore, oil rose nearly 2% on Monday as investors worried about disruptions to maritime trade and supply costs after the Iran-aligned Yemeni Houthi militant group attacked ships in the Red Sea.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 7.16% from its previous close of 7.15% on Monday.
The benchmark five-year interest rates were trading 2 basis points higher at 7.08% from its previous close of 7.06% on Monday.
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