PNBGILTS.NSE

PNB Gilts Ltd.

Indian conglomerate Reliance Industries is expected to post its Q2 earnings today.

India’s equity benchmarks rose on Wednesday, tracking other Asian markets as the United States’ surprise trade deal announcement with Japan boosted hopes of agreements with other trading partners. The Nifty 50 rose 0.63% to 25,219.9 points and the BSE Sensex added 0.66% to 82,726.64. MSCI’s broadest index for Asia-Pacific stocks outside Japan advanced 1.4%, while Japan’s Nikkei 225 gained 3.5%. Stocks in Europe too surged as traders kept an eye on the EU-U.S. trade talks scheduled for later in the day. On the other hand, the prospects of an interim trade deal between India and the U.S. before Washington’s August 1 deadline have dimmed, with talks deadlocked over tariff cuts on key agricultural and dairy products, Reuters reported, citing two Indian government sources. “The gains in Indian market today have come on the back of a global rally. While there was anticipation of an interim deal between U.S. and India, it does not look like it will materialize before the August 1 deadline,” said VK Vijayakumar, chief investment strategist at Geojit Investments.

MUMBAI: Indian government bonds slipped on Tuesday, after remaining largely range bound through the day, as weaker-than-expected demand for state debt weighed on investor sentiment, while a rise in U.S. Treasury yields also hurt. Bond prices move inversely to yields. The yield on the benchmark 10-year bond ended at 6.3053%, after closing at 6.2933% on Monday. “There is no positive trigger in the near term, and hence we could see yields slowly drifting higher because of continuous supply from states and the central government,” said Vijay Sharma, senior executive vice president at PNB Gilts. Indian states raised 133 billion rupees ($1.55 billion), at cutoff yields that were largely above estimates. U.S. Treasury yields pushed higher for a second day in Asian hours on Tuesday after President Donald Trump announced tariffs on numerous trading partners, including a 25% levy on imports from Japan and South Korea beginning August 1. India bonds steady as traders await fresh triggers Yields have been on an uptrend as traders pared bets on the quantum of rate cuts by the Federal Reserve this year after jobs data for June showed employers added more jobs than economists had forecast.