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MUMBAI: Indian federal bond yield fell in early trade on Wednesday as sentiment perked up after the Reserve Bank of India said it would buy up to 100 billion rupees ($2.02 billion) of debt through open market operations (OMO) this week.
The RBI's selection of bonds to be bought through the OMO added to the buying spree, traders said.
At 9:05 a.m. (0335 GMT), the 10-year benchmark bond yield was at 8.16 percent, lower than Tuesday's closing of 8.18 percent.
Post trading hours on Tuesday, the central bank said it would buy 8.07 percent 2017, 9.15 percent 2024, 8.28 percent 2027 and 8.97 percent 2030 bonds on Friday.
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