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INDIA: Country Wrap:  Bond Market Seeing First Foreign Outflows.

INDIA
  • Bond Market Seeing First Foreign Outflows (source: MNI – Market News)
  • Indian wages contracted last quarter for the first time since the pandemic, curbing the economy’s breakneck speed as consumers cut spending and corporate profits slump. (source: BBG).
  • NIFTY 50 has opened this morning very weak and in early trade is down -1.50%. Despite India’s growth profile remaining robust, recent days have seen some significant outflows across equities and bonds.  The NIFTY 50 is on track to post a -1.15% decline.
  • INR has continued it’s period of resilience steady at 84.49.
  • Bonds are set to see yields opening lower with the 10-year down 1.5bp at 6.83% which will result in a marginally lower yield for the month. 
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  • Bond Market Seeing First Foreign Outflows (source: MNI – Market News)
  • Indian wages contracted last quarter for the first time since the pandemic, curbing the economy’s breakneck speed as consumers cut spending and corporate profits slump. (source: BBG).
  • NIFTY 50 has opened this morning very weak and in early trade is down -1.50%. Despite India’s growth profile remaining robust, recent days have seen some significant outflows across equities and bonds.  The NIFTY 50 is on track to post a -1.15% decline.
  • INR has continued it’s period of resilience steady at 84.49.
  • Bonds are set to see yields opening lower with the 10-year down 1.5bp at 6.83% which will result in a marginally lower yield for the month.