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Economic Times
7 days ago
- Business
- Economic Times
India bonds steady as traders await fresh triggers
Indian government bonds barely moved in early deals on Monday, as traders stayed pat in the absence of any fresh domestic and global cues. ADVERTISEMENT The yield on the benchmark 10-year bond was at 6.2926% as of 10:10 a.m. IST compared with Friday's close of 6.2947%. Trading volumes were muted at the start of the week, but investors will keep a watch on U.S. Treasury peers, which inched lower in Asian hours. The 10-year U.S. yield was at 4.3319%, slightly lower following Thursday's rise, after data showed the U.S. created more jobs than expected in June. Brent crude futures lost 0.72% to $67.86 per barrel. "Foreign investors have been buying Indian bonds lately, so we are closely watching that for further direction," a trader at a primary dealership said. ADVERTISEMENT "Public sector banks have been selling for some time, so someone has to absorb that, and if foreign investors continue purchasing, we can see some rally in bonds." Still, bonds should trade in a range, with the 10-year yield bound between 6.28%-6.32%, the trader added. ADVERTISEMENT Last week, foreign investors stepped up purchases of Indian government bonds under the Fully Accessible Route (FAR). The investors net bought 87 billion rupees ($1.02 billion) of bonds under FAR during the period, CCIL data showed. ADVERTISEMENT Meanwhile, state-run banks net sold bonds worth about 143 billion rupees last week. RATES ADVERTISEMENT India's overnight index swap (OIS) rates were little changed in early deals as trading volumes remained muted. The one-year OIS rate and the two-year OIS rate were not traded yet, while the liquid five-year swap inched lower at 5.67%. (You can now subscribe to our ETMarkets WhatsApp channel)
Business Recorder
7 days ago
- Business
- Business Recorder
India bonds steady as traders await fresh triggers
MUMBAI: Indian government bonds barely moved in early deals on Monday, as traders stayed pat in the absence of any fresh domestic and global cues. The yield on the benchmark 10-year bond was at 6.2926% as of 10:10 a.m. IST compared with Friday's close of 6.2947%. Trading volumes were muted at the start of the week, but investors will keep a watch on US Treasury peers, which inched lower in Asian hours. The 10-year US yield was at 4.3319%, slightly lower following Thursday's rise, after data showed the US created more jobs than expected in June. Brent crude futures lost 0.72% to $67.86 per barrel. 'Foreign investors have been buying Indian bonds lately, so we are closely watching that for further direction,' a trader at a primary dealership said. 'Public sector banks have been selling for some time, so someone has to absorb that, and if foreign investors continue purchasing, we can see some rally in bonds.' Still, bonds should trade in a range, with the 10-year yield bound between 6.28%-6.32%, the trader added. India bond yields rise tracking US Treasuries, end flattish for week Last week, foreign investors stepped up purchases of Indian government bonds under the Fully Accessible Route (FAR). The investors net bought 87 billion rupees ($1.02 billion) of bonds under FAR during the period, CCIL data showed. Meanwhile, state-run banks net sold bonds worth about 143 billion rupees last week.
Time of India
07-07-2025
- Business
- Time of India
India bonds steady as traders await fresh triggers
Indian government bonds barely moved in early deals on Monday, as traders stayed pat in the absence of any fresh domestic and global cues. The yield on the benchmark 10-year bond was at 6.2926% as of 10:10 a.m. IST compared with Friday's close of 6.2947%. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Contribute ToGau Seva At Hare Krishna Mandir Hare krishna Mandir Donate Now Undo Trading volumes were muted at the start of the week, but investors will keep a watch on U.S. Treasury peers, which inched lower in Asian hours. The 10-year U.S. yield was at 4.3319%, slightly lower following Thursday's rise, after data showed the U.S. created more jobs than expected in June. Brent crude futures lost 0.72% to $67.86 per barrel. Live Events " Foreign investors have been buying Indian bonds lately, so we are closely watching that for further direction," a trader at a primary dealership said. " Public sector banks have been selling for some time, so someone has to absorb that, and if foreign investors continue purchasing, we can see some rally in bonds." Still, bonds should trade in a range, with the 10-year yield bound between 6.28%-6.32%, the trader added. Last week, foreign investors stepped up purchases of Indian government bonds under the Fully Accessible Route (FAR). The investors net bought 87 billion rupees ($1.02 billion) of bonds under FAR during the period, CCIL data showed. Meanwhile, state-run banks net sold bonds worth about 143 billion rupees last week. RATES India's overnight index swap (OIS) rates were little changed in early deals as trading volumes remained muted. The one-year OIS rate and the two-year OIS rate were not traded yet, while the liquid five-year swap inched lower at 5.67%.
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Business Standard
29-06-2025
- Business
- Business Standard
Front-loaded, then flat: JPMorgan Index fails to sustain FAR bond inflows
Mumbai Listen to This Article Foreign inflows into India's Fully Accessible Route (FAR) government bonds following the phased entry into JPMorgan's GBI-EM index have fallen well short of projections so far. When JPMorgan announced in September 2023 that Indian bonds would be phased into the index starting June 28, 2024, and reaching the full 10 per cent weighting by March 31, 2025, at 1 per cent per month, analysts predicted passive inflows of $20 billion - $25 billion, with bullish scenarios extending up to $30 billion, including active repositioning. However, between June 2024 and March 2025, total foreign purchases under the FAR route had reached just ₹1.09 trillion, which is
Indian Express
18-06-2025
- Business
- Indian Express
SEBI introduces special measures to facilitate voluntary delisting of certain PSUs
The Securities and Exchange Board of India (SEBI) board on Wednesday announced several measures, including steps to facilitate voluntary delisting of certain public sector undertakings (PSUs), relaxation in regulatory compliances for foreign investors investing in government bonds and allowing founders of start ups to hold employee stock options (ESOPs) even after listing of the company The board also approved category I and II Alternative Investment Funds (AIF) to offer co-investment opportunities within the AIF structure. The SEBI board introduced special measures for PSUs to undertake voluntary delisting through fixed price delisting process when the shareholding of the government as a promoter or other PSUs equals or exceeds 90 per cent. 'PSUs (other than banks, NBFCs and insurance companies) in which aggregate shareholding of the government and/or any PSUs equals or exceeds 90 per cent of total issued shares of the PSU, would be eligible for delisting under the relaxed route ,' the SEBI said. Delisting of such eligible PSU would be only through a fixed price delisting process which shall be atleast 15 per cent premium over the floor price. In order to enhance ease of doing business through a risk-based approach and optimum regulation, the board approved the proposal to relax certain regulatory requirements for all existing and prospective foreign portfolio investors (FPIs) that exclusively invest in government securities G-Secs (GS-FPIs). SEBI has harmonised the periodicity of mandatory Know Your Customer (KYC) review for GS-FPIs with the Reserve Bank of India's (RBI) requirement. This would essentially mean that GS-FPIs will have less frequent mandatory KYC reviews. Under the revised norms, existing and prospective FPIs that exclusively invest in g-secs under the Fully Accessible Route (FAR) will not be required to furnish investor group details. Such details are largely relevant for monitoring FPI exposures into equity and corporate debt only. The SEBI said that GS-FPIs will be permitted to intimate all material changes within 30 days instead of 7 days. These relaxation come at a time when several global index providers have announced inclusion of g-secs in their respective bond indices, such as J P Morgan Global EM Bond Index, Bloomberg EM Local Currency Government Index and FTSE Russell Emerging Markets Government Bond Index. SEBI said that under the existing regulations, promoters are ineligible to hold or be granted share based benefits, including ESOPs. If they hold such share based benefits at the time of filing of draft red herring prospectus (DRHP), they have been required to liquidate such benefits prior to the initial public offering (IPO). 'This provision has been found to be impacting founders classified as promoters at the time of filing of DRHP. The proposal approved by the Board shall facilitate founders who received such benefits at least one year prior to the filing of DRHP with the Board, to continue holding, or exercising such benefits even after being specified as the promoter and the company becoming a listed entity,' the regulator said. These proposals as approved by the board are expected to assist public companies who are intending to list after undertaking reverse flipping (i.e. shifting the country of incorporation from a foreign jurisdiction to India) and relax certain requirements relating to share based benefits granted to founders prior to the company undertaking the IPO. With an objective to enhance ease of doing business for AIFs, the SEBI board approved the proposal to permit Category I & II AIFs to offer co-investment scheme (CIV scheme). This will further facilitate AIFs and investors to co-invest and will support capital formation in unlisted companies through AIFs. Co-investment refers to investment made by a manager or sponsor of the AIF or by investor of Category I and II AIFs in unlisted investee companies where such a Category I or Category II AIF(s) makes investment. At present, co-investment for AIF investors is facilitated through Co-investment Portfolio Managers under Portfolio Management Service (PMS) regulations. The regulator said that a separate CIV scheme shall be launched for each co-investment in an investee company subject to safeguards to ensure that the scheme is used only for bona fide purposes. The SEBI board has also decided to introduce a settlement scheme for certain stock brokers who traded on the National Spot Exchange Ltd (NSEL) platform and had applied/ were registered with SEBI as trading member / clearing member. The scheme will provide an opportunity to such stock brokers against whom enforcement actions have been taken by SEBI. By availing the benefit of the scheme, the stock brokers may settle such proceedings and seek expeditious conclusion of the said proceedings.
