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Informist, Friday, Jul. 17, 2026

 

By Vaishali Tyagi and Nandini Sinha

 

NEW DELHI/MUMBAI – Yields on corporate bonds in the secondary market closed broadly steady Friday after moving in a narrow band as traders mostly focused on need-based trading, dealers said. Trading was seen across tenures, with most bids concentrated in papers maturing up to three years. Yields were lower in early trade but reversed after a slight uptick in crude prices, and ended broadly steady. "The activity in the secondary market remained limited to requirement-based trades, which kept the yields steady," a dealer at a mid-sized brokerage said.

 

Overall market volumes remained muted and largely followed the trend seen through the week, dealers said. "Volumes were subdued earlier as participants waited for cues to place bets," the dealer quoted above said. "Later, renewed tensions in the Middle East (West Asia) again pushed investors to the sidelines, leading to a fall in secondary market trading volumes."

 

The yield on three-year bonds issued by the National Bank for Agriculture and Rural Development was at 7.38-7.41%, broadly unchanged from 7.38-7.40% Thursday. The indicative yield on NABARD's five-year bonds was at 7.39-7.41%, compared with 7.36-7.38% Thursday. The tentative yield on NABARD's 10-year bonds was at 7.45.7.47% compared with 7.45-7.48% Thursday.

 

In the secondary market, deals worth INR 76.29 billion were recorded on the National Stock Exchange and BSE combined, sharply down from INR 97.67 billion Thursday. Papers issued by Punjab National Bank, Muthoot Fincorp, Hyderabad Metropolitan Development Authority, Andhra Pradesh State Beverages Corp., Kerala Infrastructure Investment Fund Board, Kosamattam Finance, Akara Capital Advisors, Lucina Land Development, and Paisalo Digital were traded actively Friday.

 

Primary market activity saw a slight improvement Friday, with issuances aggregating to INR 11.20 billion, up from INR 10 billion Thursday. Edel Finance's bonds maturing in October 2029 were fully subscribed, with the company raising INR 1.2 billion at 10.25%, dealers said. Aditya Birla Digital Fashion Ventures raised INR 5 billion by issuing two bonds with different maturities. Aadhar Housing Finance raised INR 3.5 billion by issuing five-year floating-rate bonds.

 

Bond issuances worth INR 3.5 billion are lined up for Monday, with Kisetsu Saison Finance (India) among the issuers. The non-banking finance company plans to raise up to INR 2 billion through subordinated tier-II bonds maturing on Jul. 21, 2036, dealers said.

 

UDAY BONDS

In the secondary market, no Ujwal DISCOM Assurance Yojana bonds were traded Friday, according to data on the RBI's Negotiated Dealing System-Order Matching System.

 

BENCHMARK LEVELS FOR CORPORATE BONDS:

Tenure	Friday	Thursday
Three-year	7.38-7.41%	7.38-7.40%
Five-year	7.39-7.41%	7.36-7.38%
10-year	7.45.7.47%	7.45.7.48%

End

 

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

 

Edited by Saji George Titus

 

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