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Bond yields trade higher on Tuesday

12 Nov 2024 Evaluate

Bond yields traded higher on Tuesday as government data has showed that net direct tax collection grew 15.41 per cent to Rs 12.11 lakh crore between April 1 and November 10. This includes net corporate tax of Rs 5.10 lakh crore and non-corporate taxes (including taxes paid by individuals, HUFs, firms) of Rs 6.62 lakh crore.

In the global market, The U.S. Treasury market was closed Monday for the Veterans Day holiday following sharp postelection moves last week. Furthermore, Oil prices fell by more than 2 per cent on Monday after China's latest stimulus plan disappointed investors seeking demand growth in the world's second-biggest oil consumer, while supply looked set to rise in 2025.

Back home, the yields on new 10 year Government Stock were trading 13 basis points higher at 6.91% from its previous close of 6.78% on Monday.

The benchmark five-year interest rates were tradin 12 basis points higher at 6.88% from its previous close of 6.76% on Monday.

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