As per the NSE data, LIC HOUSING FINANCE LIMITED 392 7.79 NCD 18OT24 FVRS10LAC LOAUPTO25FB20, currently trading at Rs 100.0487 with Last Trade Yield (YTM) Annualized of 7.7500% was in maximum demand, followed HOUSING DEVELOPMENT FINANCE CORPORATION LTD SR V-007 7.87 NCD 18JL22 FVRS10LAC currently trading at Rs 100.6862 with Last Trade Yield (YTM) Annualized 7.5000%, and HOUSING DEVELOPMENT FINANCE CORPORATION LTD SERIES U -008 8.70 NCD 15DC20 FVRS10LAC currently trading at Rs 101.5682 with Last Trade Yield (YTM) Annualized 6.6500%.
Bond yields edged higher on Tuesday despite Fitch Ratings has cut India`s growth forecast to a 30-year low of 2 percent, from 5.1 percent projected earlier for the current financial year (FY21), as economic recession gripped global economy following the lockdown due to COVID-19 pandemic.
In the global market, U.S. Treasury yields rose on Monday as stocks rallied on hopes the coronavirus health crisis may be slowing, with hard-hit New York and New Jersey eying possible plateaus. Furthermore, oil rose amid hopes that the world`s biggest producers of crude will agree to curtail production as the coronavirus pandemic ravages the global economy, even as analysts cautioned the cuts may do little to boost demand.
Back home, the yields on new 10 year Government Stock were trading 9 basis points higher at 6.39% from its previous close of 6.30% on Friday.
The benchmark five-year interest rates were trading 10 basis points higher at 5.88% from its previous close of 5.77% on Friday.
Bond yields edged higher on Friday despite Asian Development Bank (ADB) said that India`s economic growth is likely to slow down to 4 per cent this fiscal on the back of the current global health emergency.
In the global market, U.S. Treasuries shrugged off a record rise in jobless claims shown in data on Thursday, leaving yields steady as investors tried to gauge when the coronavirus pandemic`s economic impact might peak. Furthermore, oil prices fell, coming off their biggest one-day gains in the previous session after U.S. President Donald Trump said he had brokered a deal between Saudi Arabia and Russia to cut output, but made no offer to reduce U.S. production.
Back home, the yields on new 10 year Government Stock were trading 16 basis points higher at 6.29% from its previous close of 6.13% on Tuesday.
The benchmark five-year interest rates were trading 11 basis points higher at 5.78% from its previous close of 5.67% on Tuesday.
The Reserve Bank of India (RBI) has revised the trading hours for Government Securities (Central Government Securities, State Development Loans and Treasury Bills) to 10 am to 2 pm in order to minimize the risks due to the nationwide lockdown amid the coronavirus outbreak. The new timing will come into force from April 7, 2020 and continue up to April 17, 2020.
As per the NSE data, NTPC LIMITED 90D CP 20MAY20, currently trading at Rs 99.4303 with Last Trade Yield (YTM) Annualized of 4.4496% was in maximum demand, followed AXIS BANK LIMITED SR-3 7.6 NCD 20OT23 FVRS10LAC currently trading at Rs 102.0600 with Last Trade Yield (YTM) Annualized 6.8964%.
Invest in the bonds issued by government or the corporate entities to get the interest at the pre-decided intervals. The interest payment frequency can be monthly, quarterly, half yearly, annually or at the time of maturity, depending upon the terms of the bond