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Informist, Monday, Oct. 20, 2025

By Vaishali Tyagi

MUMBAI – Yields on corporate bonds in the secondary market ended steady across tenures Monday as investors engaged in only requirement-based trading in the festival week, dealers said. Some market participants also kept to the sidelines as markets administered by the Reserve Bank of India are shut Tuesday and Wednesday for Diwali, dealers said. 

"Corporate bond market was very quiet today as traders were not present in market or some have gone home early...therefore, activity was very less there whoever came it was for their requirement," a dealer at a brokerage firm said. "We barely saw any trades...nobody wanted to take bets as this week on very few days market is opened." 

Dealers said some trades took place at the beginning of the trading session, but they weren't significant due to a lack of buyers and sellers in the market. In the secondary market Monday, a handful of mutual funds were active on the selling and buying side and traded selective papers, dealers said. Banks, insurance companies and pension funds were broadly absent from the corporate bond market. "Nothing particular happened today...banks were extremely quiet (not very active) today (Monday), so were pensions funds and insurances (insurance companies," the dealer quoted above said. "Some trades did happen but it's nothing major or something which will change the levels," the dealer said. 

In the secondary market Monday, deals aggregating to INR 17.56 billion were reported on the National Stock Exchange and BSE combined, significantly lower than INR 98.80 billion on Friday. 

Papers issued by the REC, Vedika Credit Capital, Krazybee Services, Akara Capital Advisors, Keertana Finserv, The Andhra Pradesh Mineral Development Corp. Muthoot Capital Services, Navi Finserv, Adani Enterprises, Kerala Infrastructure Investment Fund Board, and Muthoot Fincorp were traded the most on bourses Monday.

On Monday, primary market remained dull compared to Friday. Thursday, only Valencia And Mishal Ventures has invited bids to raise INR 750 million through April 2029 bond reissue. Merchant bankers expect a surge in bond issuances across various sectors, including banks, manufacturing companies, and non-banking financial companies, after Diwali. "Some pick up in primary market activity is expected post Diwali or may be after this week, as we heard some state-owned banks and other companies that were waiting for an issuance from SBI and NABARD to gauze investors appetite," a dealer at another brokerage firm said.

UDAY BONDS

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In the secondary market, Ujwal DISCOM Assurance Yojana bonds aggregating to INR 5.60 million were traded at a weighted average yield of 6.7093%, according to data on the RBI's Negotiated Dealing System-Order Matching System Monday.

* INR 5.60 million of Tamil Nadu's 8.24%, 2028 bond was dealt at a weighted average yield of 6.7093%

BENCHMARK LEVELS FOR CORPORATE BONDS:

End

Edited by Deepshikha Bhardwaj

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