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Informist, Friday, Mar. 6, 2026

By Vaishali Tyagi

NEW DELHI – Yields on corporate bonds in the secondary market ended steady after moving in a narrow range on Friday, amid limited trading activity due to the absence of domestic market triggers. Market participants focused mainly on meeting basic portfolio requirements, they said. 

"Today (Friday), market was flattish as there were no aggressive postion budilding and it will likely be driven by significant data or cues in domestic market, but there is no such event in domestic market for corporate debt market. It is mostly demand and supply driving the market, and there was no significant buying or selling pressure," a dealer at a private sector bank said.

Dealers said selling by mutual funds offset purchases by investors and other mutual funds. Dealers traded bonds to meet their daily requirements, which kept yields unchanged from te previous close, they said. "Market was most active in shorter tenure papers as everybody was demanding in that segment, especially mutual funds who had cash were looking to deploy funds," said the dealer quoted earlier.

Majorly mutual funds and banks traded bonds of up to three-year maturity. Pension funds and insurance companies were largely absent from the market. The volume of trades in the secondary market fell significantly to INR 95.77 billion on the National Stock Exchange and BSE combined from INR 152.42 billion Thursday.

Papers issued by Goswami Infratech, Samunnati Finance, Motilal Oswal Financial Services, Lendingkart Finance, Mahindra & Mahindra Financial Services, Navi Finserv, Spandana Sphoorty Financial, Varthana Finance, Edelweiss Financial Services, and National Bank for Agriculture and Rural Development were traded the most.

In the primary market, bond issuances rose to nearly INR 47 billion Friday from INR 8 billion Thursday. On Monday, over INR 41 billion worth of bonds will hit the market with several non-banking financial companies along with a state-owned agency.

North Eastern Electric Power Corp. Ltd., a wholly-owned subsidiary of NTPC Ltd., has invited bids to raise up to INR 7.5 billion through the issuance of 10-year bonds maturing on Mar. 11, 2036. Aditya Birla Capital plans to raise up to INR 13.75 billion through the reissuance of three different bonds and has invited bids for the same Monday. IIFL Finance will borrow up to INR 10.00 billion through one-year bonds maturing on Mar. 24, 2027. Other issuers, including IKF Finance, Axis Finance and Navi Finserv, will also raise funds Monday.

UDAY BONDS

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In the secondary market, two Ujwal DISCOM Assurance Yojana bonds aggregating to INR 906.6 million were traded Friday, according to data on the RBI's Negotiated Dealing System-Order Matching system.

* INR 903.60 million of Uttar Pradesh's 8.45%, 2029 bond was dealt at 6.8046%

* INR 3.00 million of Uttar Pradesh's 8.44%, 2029 bond was dealt at 7.2327%

BENCHMARK LEVELS FOR CORPORATE BONDS:

End

Edited by Avishek Dutta

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