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Informist, Wednesday, Jun. 3, 2026

 

By Nandini Sinha

 

MUMBAI – Yields on three- and five-year corporate bonds ended broadly steady on Wednesday after moving in a narrow range as market participants remain cautious ahead of the outcome of the Reserve Bank of India's Monetary Policy Committee meeting on Friday. Mutual funds and insurance companies actively bought and sold corporate bonds, particularly in the 2027-2029 segments.

 

Traders expect the MPC to maintain status quo on the repo rate on Friday. In an Informist poll, 19 of the 24 economists and market participants said they expect the rate-setting panel to keep the repo rate unchanged, while the rest expect a repo rate hike.

 

Yields on corporate bonds were up in early trade due to a rise in crude oil prices. At 1705 IST, Brent crude oil futures for August delivery were at $97.96 per barrel, up from $96 Tuesday.

 

Yields on the three-year bonds issued by the National Bank for Agriculture and Rural Development were at 7.80-7.81%, similar to levels of 7.80-7.85% on Tuesday. The indicative yield on NABARD's five-year bonds was unchanged at 7.80-7.85% Wednesday, while the indicative yield on NABARD's 10-year bonds was 7.80%, up 10 basis points from 7.70-7.76% Tuesday. NABARD's September 2028 bonds were dealt at 7.83% during the first half of trading hours, but later fell to 7.78% levels, a dealer at a public sector bank said.

 

A total of INR 104.55 billion worth of deals was recorded on the National Stock Exchange and BSE combined, down from INR 123.95 billion Tuesday. Papers issued by Sammaan Capital Ltd., Bajaj Housing Finance Ltd., Anand Rathi Global Finance Ltd., and Hyderabad Metropolitan Development Authority were also actively traded. 

 

Bajaj Housing Finance Ltd. and Aditya Birla Housing Finance Ltd. are the major issuers slated to tap the corporate bond market on Thursday. Bajaj Housing Finance plans to raise up to INR 20 billion through the reissue of May 2029 bonds, while Aditya Birla Housing Finance will seek bids to raise up to INR 10 billion through three-year and five-year bonds. State-run REC Ltd. will tap the market Monday to raise up to INR 30 billion through bonds maturing in February 2029, dealers said.

 

UDAY BONDS

No Ujwal DISCOM Assurance Yojana bond was traded Wednesday, according to data on the RBI's Negotiated Dealing System-Order Matching system.

 

BENCHMARK LEVELS FOR CORPORATE BONDS:

 

Tenure	Wednesday	Tuesday
Three-year	7.80-81%	7.80-85%
Five-year	7.80-85%	7.80-85%
10-year	7.80%	7.70-7.76%

 

End

 

US$1 = INR 95.71

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Avishek Dutta

 

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