Bond yields traded higher on Thursday as the HSBC Flash India Composite Output Index - a seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectors - stood at 58.6 in October, which was inside growth territory (above 50.0) for the thirty-ninth successive month.
In the global market, The U.S. 10-year Treasury yield rose again Wednesday as traders digested the latest comments from Federal Reserve officials on the trajectory of interest rate cuts. Furthermore, oil prices fell on Wednesday after data showed U.S. crude inventories rose by more than expected even as refining activity rebounded, though futures remained up about 2% this week as traders factored in continuing conflict in the Middle East.
Back home, the yields on new 10 year Government Stock were trading 13 basis points higher at 6.94% from its previous close of 6.81% on Wednesday.
The benchmark five-year interest rates were trading 11 basis points higher at 6.85% from its previous close of 6.74% on Wednesday.