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.