Global Funds Bullish On Debt Market, Over Rs 83,000 Crore Invested Since Sept
Date
6/19/2024 2:45:16 AM
(MENAFN- IANS) New Delhi, June 19 (IANS) Global funds remained bullish on the Indian debt market as nearly Rs 83,360 crore ($10 billion) has been invested in Indian bonds since September 2023.
The market witnesses foreign inflow into India's debt market ahead of the bond's inclusion in a key global index at the end of the month.
According to the JP Morgan announcement, Indian bonds will be included in emerging global indices from June 28.
As per 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. This figure was Rs 5,200 crore in May. However, in April, they sold about Rs 9,830 crore in the debt market.
After JP Morgan, Bloomberg Index Services will include some Indian bonds in its emerging market's local currency index starting next year.
Investment coming into the Indian bond market is helping to keep bond yields low at a time when the NDA coalition government has been formed at the Centre under the leadership of Prime Minister Narendra Modi. The 10-year government bond yield has fallen 8 basis points from this month's high and stood at 6.98 per cent.
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