Market activity has remained subdued due to festivities. The Indian 10Y is also trading at the lower end of the trading range and going forward market should trade in the range of 7.25 to 7.40
Indian Debt
- The interbank call money rate ended at 6.79%.
- The Government bond prices saw a rally of 10bps owing to cooling off of US 10Y combined with drop Brent price.
- The yield of the 10-year benchmark 7.18% 2033 bond ended at 7.28%. The 10Y paper moved down by 3bps during the week from 7.31 to 7.28
| Debt Market Indicators |
Close |
Last week Close |
| Repo rate |
6.5 |
6.5 |
| 91 Days Tbill |
6.9200 |
6.9325 |
| 364 Days Tbill |
7.1500 |
7.1598 |
| 1 Y CP Rate |
7.80 |
7.75 |
| 1 Y CD Rate |
7.7 |
7.6 |
| 5 Y Gilt |
7.25 |
7.35 |
| 5 Y Corp bond |
7.72 |
7.75 |
| 10 Y Gilt |
7.280 |
7.315 |
| 10 Y Corp bond |
7.87 |
7.89 |
Market Trends
- The Indian rupee has more or less remained flattish during the week.
- The Rupee has remained flattish despite the outflow of INR 2,854 Crores by FII's from the equity cash market.
- The Brent price significantly dropped from $87 to $81 USD per barrel; the downward movement in the Brent price can be attributed to rising inventory and weakening demand from US and China.
| Indian Indicies |
Close |
Last week Close |
| Sensex |
64,652 |
64,406 |
| Nifty |
19,353 |
19,266 |
General News
- Markets will be closely monitoring US FED chairman's speech on 10th November, 2023. Market will anticipate the future course depending on chairman's speech.
- The Indian CPI numbers will be out on 13th November, 2023.
| Global Indices |
Close |
Last week close |
| DJIA |
33,892 |
33,839 |
| NASDAQ |
13,521 |
13,294 |
| US 10-Y |
4.61 |
4.66 |
| USD/INR |
83.28 |
83.25 |
| Brent (USD) |
81 |
87 |
Primary Issues
| Issuer Name |
Ratings |
Tenor |
Issue Size +
Greenshoe |
Open Date |
Exchange |
| Kotak Mahindra Investments Ltd |
CRISIL-AAA |
1.5 Years |
50+190 Cr |
10-Nov-23 |
BSE |
| Hinduja Leyland Finance Ltd |
CRISIL-AA |
10 Years |
50 Cr |
10-Nov-23 |
BSE |
Top Traded Bonds
The top traded bonds in the market are listed below (as of 9th November, 2023):
| ISIN |
Security Name |
Volume (Cr) |
Avg. yield % |
| INE153A08170 |
7.80 MTNL 07NOV33 |
2,455.00 |
7.94 |
| INE763P07010 |
10.00 AAKASH EDUCATION 10MAY26 |
1,700.00 |
27.50 |
| INE261F08CU8 |
5.44 NABARD 05FEB24 |
1,320.00 |
7.31 |
| INE556F08KK5 |
7.79 SIDBI 19APR27 |
969.75 |
7.79 |