Yields edge up, govt move on bulk diesel hurts
RBI published last week's speech of governor D Subbarao on its website earlier in the day. The speech was picked up by some media agencies and RBI chief's comments on inflation caused yet another round of sell-off.
The benchmark 10-year bond yields closed up 1 basis point at 7.86% after moving in a range of 7.83% to 7.88% in the day.
Total volumes on the central bank's electronic trading platform were lower at R29,805 crore.
The market is broadly positioned for a 25 bps cut in key rates at the RBI policy review on Tuesday with the guidance provided by the central bank being key in setting the medium term direction.
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