The yield on India’s 10-year G-Sec hovered around 6.8%, little changed from the previous session as investors balanced optimism over easing geopolitical risks against uncertainty surrounding the preliminary US-Iran peace agreement and fresh debt supply.
Market participants also monitored a scheduled sale of INR 216 billion worth of state government bonds.
Sentiment remained supported by a sharp drop in crude oil prices after US President Donald Trump announced a memorandum of understanding to end the conflict.
Brent crude had fallen nearly 5% in the previous session to its lowest close since March 4, although prices edged higher in Asian trading as investors awaited further details of the agreement.
Meanwhile, foreign investors have poured more than $1.75 billion into Indian bonds over the past seven sessions following the Reserve Bank of India's measures to attract dollar inflows, further underpinning demand for government debt.
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