Stock Market Live: Nifty Futures Indicate Flat Start On Last Trading Day Of 2017
Sovereign bonds are heading for their worst year since 2009 as the government raised its borrowing target for the fiscal year, with banking liquidity set to tighten and accomodative monetary policy potentially nearing an end.
The yield on the benchmark 10-year bond rose 18 basis points to 7.4 percent yesterday. It has climbed 88 basis points this year, snapping three years of declines. Later in the day, India will detail the fiscal deficit data for April-Nov. period.
The rupee on the other hand is headed for its first gain in seven years. Implied opening from forwards suggests onshore dollar-rupee will start trading around 64.07.