Indian corporate bond little changed

Indian corporate bond yields ended little changed on Friday, as investors preferred to stay on the sidelines, with liquidity in the system remaining tight. The five-year corporate bond yield ended 1 basis point lower at 9.44 percent and the 10-year bond closed 1 basis point higher at 9.32 percent. Indian markets were shut on Thursday.
The spread between the 10-year corporate bonds and government debt of the same maturity narrowed to 77.26 basis points from 79.41 basis points on Wednesday. Total volume in the corporate bond market was 10.30 billion rupees, higher than Wednesday's 9.42 billion rupees. Banks borrowed 1.59 trillion rupees ($32.25 billion) from the Reserve Bank of India's repo window, compared with Wednesday's 1.45 trillion rupees.