Bond yields traded higher on Thursday as rating agency CRISIL stated that India will see a five-fold growth in green investments to Rs 31 lakh crore between 2025 and 2030. It said this is a crucial part of an estimated $10-trillion investments needed through 2070 to achieve the country's net-zero goals as per the Updated First Nationally Determined Contribution (NDC) under the Paris Agreement.
In the global market, the 10-year Treasury yield dropped Wednesday as investors parsed key inflation data. Furthermore, oil prices rose on Wednesday, supported by a large draw in U.S. crude stockpiles and potential supply disruptions caused by new U.S. sanctions on Russia, while a Gaza ceasefire deal limited gains.
Back home, the yields on new 10 year Government Stock were trading 7 basis points higher at 6.88% from its previous close of 6.81% on Wednesday.
The benchmark five-year interest rates were trading 12 basis points higher at 6.82% from its previous close of 6.70% on Wednesday.