January 10, 2013 / 4:18 AM / 5 years ago

MARKET EYE-Indian bond yields steady after rising at open

* India's 10-year benchmark bond yield trades
steady at 7.90 percent after a higher open as investors await
the industrial output data on Friday and inflation on Monday for
cues on the central bank policy.
* Yields inched up at open on the back of a central bank
deputy's comments that they are considering cutting banks'
held-to-maturity limit in bonds.
* The 10-year is seen in a 7.88 to 7.90 percent range on
Thursday barring any decision on the raising of diesel prices.
* India's oil ministry has made a proposal to the cabinet to
raise diesel prices and increase the number of subsidised
cylinders available to households to nine a year from the
current cap of six, two oil ministry sources said on Wednesday.
 
* Traders say the proposal, if implemented, will be marginally
positive on bonds as it will help bring down the fiscal deficit
in the long term.

 (swati.bhat@thomsonreuters.com/;
swati.bhat.thomsonreuters.com@reuters.net)

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