Bonds gain on hike in foreign debt investment limits
MUMBAI, MARCH 30: India's 10-year benchmark bond gained on Wednesday after the central bank said it would allow foreign investors to buy up to Rs. 27,500 crore ($4.14 billion) in additional sovereign debt next month as part of its plan to gradually raise debt investment limits.
Gains also tracked higher regional markets following comments from Federal Reserve chair Janet Yellen calling for caution in raising US interest rates.
The 10-year bond yield was down 2 basis points at 7.49 per cent at 0339 GMT, after earlier easing to a more than one-week low of 7.48 per cent.
The rupee too strengthened to 66.4175/4200 to the dollar after gaining to as high as 66.37, its strongest level since January 4.