The market saw foreign inflows into India's debt market ahead of the bonds' inclusion in major global indices at the end of the month.
According to JPMorgan's announcement, Indian bonds will be included in emerging global indices from June 28.
According to the information given by the Clearing Corporation of India, till June 18, about Rs 7,350 crore ($881 million) has been invested in the Indian bond market by global funds. In May this figure was Rs 5,200 crore. However, in April they sold about Rs 9,830 crore in the debt market.
Following JPMorgan, Bloomberg Index Services will include some Indian bonds in its emerging market local currency index from next year.
Inflows into the Indian bond market are helping keep bond yields low at a time when the NDA coalition government is formed at the Center under the leadership of Prime Minister Narendra Modi. The 10-year government bond yield has fallen 8 basis points from this month's high to 6.98 percent.
According to JPMorgan's announcement, Indian bonds will be included in emerging global indices from June 28.
According to the information given by the Clearing Corporation of India, till June 18, about Rs 7,350 crore ($881 million) has been invested in the Indian bond market by global funds. In May this figure was Rs 5,200 crore. However, in April they sold about Rs 9,830 crore in the debt market.
Following JPMorgan, Bloomberg Index Services will include some Indian bonds in its emerging market local currency index from next year.
Inflows into the Indian bond market are helping keep bond yields low at a time when the NDA coalition government is formed at the Center under the leadership of Prime Minister Narendra Modi. The 10-year government bond yield has fallen 8 basis points from this month's high to 6.98 percent.
