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India bond yields seen steady; value buying to cap rise
March 20, 2012 / 3:02 AM / 6 years ago

India bond yields seen steady; value buying to cap rise

MUMBAI, March 20 (Reuters) - Indian federal bond yield are
seen little changed at start on Tuesday as traders awaiting the
government borrowing calendar for the fiscal year 2012/13 are
unlikely to build large positions.	
    * The 10-year benchmark bond yield is seen
opening around 8.43 percent, dealers said. It closed steady at
8.42 percent on Monday, after rising as much as 8.45 percent.	
    * Traders said the benchmark yield is expected to move in a
8.38 to 8.45 percent range, adding any sharp spike will be
capped by value buying.	
    * Dealers will await the calendar for 2012/13 market
borrowing, which is due in the last week of March.
    * The government, in its budget for 2012/13, said it will
borrow 5.7 trillion rupees ($113.5 billion) from the market,
higher than the expected 5.3 trillion rupees. 	
    ($1=50.2 rupees)	
 (Reporting by Shamik Paul; Editing by Aradhana Aravindan)

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