More Stories

Informist, Friday, Jul. 24, 2026

 

By Nandini Sinha

 

MUMBAI – Yields on corporate bonds ended broadly steady Friday as traders refrained from building positions ahead of the weekend, dealers said. Banks, mutual funds, and insurance companies participated actively in the market.

 

"(Market) sentiment was negative temporarily in the morning due to crude oil prices. (It) got better later as (crude oil) prices fell," a dealer at a private-sector bank said.

 

The yield on three-year bonds issued by the National Bank for Agriculture and Rural Development was unchanged at 7.44%. The indicative yield on NABARD's five-year bond was also unchanged at 7.42–7.43%. The indicative yield on NABARD's 10-year bonds was 7.50-7.55%, up marginally from 7.50-7.52% Thursday.

 

In the secondary market, deals worth INR 98.61 billion were recorded on the National Stock Exchange and BSE combined, down from INR 100.72 billion Thursday. Paper issued by Small Industries Development Bank of India, NABARD, Adani Power, and Bajaj Finance were traded actively.

 

Secondary market volumes were low as traders flocked to the weekly Indian government bond auction Friday, the dealer quoted earlier said. "Be it any tenor, the base for a bond will be the respective G-sec (government security)."

 

The Reserve Bank of India set the coupon on the new 15-year Indian government bond at 7.06%, which was in line with market expectations. The cut-off yield on the 50-year Indian government bond was set at 7.62%.

Market participants remain cautious because of the evolving geopolitical situation in West Asia. As a result, they are mostly trading very short-term paper. "Even 2029 (paper) are not trading much due to uncertainty," a dealer at another private-sector bank said.
 

Bonds worth INR 15.40 billion were issued Friday. Sundaram Finance raised INR 5.15 billion through the issuance of two-year bonds, dealers said.

 

Monday, issuances are seen more than doubling from Friday, with market participants slated to seek INR 31.50 billion through bond issuances. Summit Digitel Infrastructure plans to raise INR 12 billion through the issuance of bonds maturing in June 2031, dealers said. Tata Capital Housing Finance has sought bids for up to INR 10 billion through bonds maturing in May 2030. 

 

Avanse Financial Services will seek bids for INR 5 billion through the issuance of October 2027 bonds and GIC Housing Finance plans to raise INR 2 billion through bonds maturing in January 2028. Rupee Capital Pvt. Ltd. will seek to raise INR 1 billion through January 2028 bonds.

 

Traders see yields on corporate bonds broadly steady Monday, barring any escalation in the US-Iran conflict. "There may be buying Monday if liquidity increases," the second dealer said.

 

UDAY BONDS

In the secondary market, one Ujwal DISCOM Assurance Yojana bond worth INR 1.5 million was traded Friday, according to data on the RBI's Negotiated Dealing System-Order Matching System.

 

* INR 1.5 million of Tamil Nadu's 8.04%, 2029 bond was dealt at 6.7999%.

 

BENCHMARK LEVELS FOR CORPORATE BONDS:

Tenure	Friday	Thursday
Three-year	7.44%	7.44%
Five-year	7.42-7.43%	7.42-7.43%
10-year	7.50-7.55%	7.50-7.52%

 

End

 

Edited by Rajeev Pai

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000 

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.