Indian Debt Market Summary

  • The interbank call money rate ended at 6.28% on 29th November as against 6.30% on 28th November
  • Gilt prices ended higher on 28th November as investors reacted positively to the RBI’s announcement of open market operations (OMO) purchases of gilts worth Rs 40000 cr in December, and further increased on 29th November due to a rise in the Indian rupee and fall in global crude oil prices.
  • The yield of the 10 year benchmark 7.17% 2028 paper ended at 7.61% on 29th November as against 7.64% on 28th November.

Debt Market Watch Updates

Debt Watch15 NovWeek AgoMonth AgoYear Ago
Call Rate6.28%6.45%6.30%5.80%
10 Yr Gilt7.61%7.71%7.81%7.03%
1-mth CP rate7.70%7.72%7.80%6.59%
3-mth CP rate7.75%7.85%8.75%6.82%
6-mth CP rate9.04%9.05%9.15%7.15%
1 yr CP rate9.17%9.17%9.30%7.30%
1-mth CD rate6.80%7.00%7.10%6.59%
3-mth CD rate7.20%7.22%7.45%6.22%
6-mth CD rate8.08%8.17%8.32%7.15%
1 yr CD rate8.30%8.30%8.50%6.58%
Key announcements in the monthRelease Date
China Manufacturing PMI, NovemberNovember 30
India Core Sector Growth, OctoberNovember 30
India GDP, Q2FY19November 30

Auctions/ Money market operations

DateDescriptionAmount (Rs Cr)
November 30G-sec auction12,000 (Notified)
November 28Total repo1,24,696 (outstanding)
November 28Total reverse repo43,666 (outstanding)
November 28Marginal Standing Facility200
November 28GOI Surplus Cash Balance with RBI0
Yield (%)G-SecAAAAA+AAAA-A+
6 Month7.038.208.378.628.769.02
1 Year7.178.408.638.929.079.31
3 Year7.408.458.689.049.329.61
5 Year7.528.598.829.189.479.86
10 Year7.768.659.019.409.8610.20

G-sec and corporate bonds data as of Nov 29

6 month G-sec: 182 day T-Bill rate; 1 year G-Sec: 6.35% CGL 2020; 3 year G-Sec: 8.20% CGL 2022; 5 year G-Sec: 8.83% CGL 2023; 10 year G-Sec: 7.17% GS 2028

Last Updated: 30th November 2018

Next Update: 15th November 2018

Update Frequency: Once Every Fortnight