Surging oil prices have fanned concerns over the inflation trajectory, which could in turn lead to further monetary tightening.
"Till we get a clearer idea on where oil is heading and how inflation is likely to play out, bonds are not going to move anywhere in a hurry," said a senior fixed income dealer at a primary dealership.
Last week, the Reserve Bank of India while raising its short-term borrowing and lending rates for the eighth time in 12 months, warned both of inflationary pressures and emerging risks to growth.
Analysts expect the RBI to raise rates by another 50 basis points (bps) in 2011, a Reuters poll showed.
Brent crude futures were steady near $115 on Tuesday, supported by a spreading unrest in the Middle East, while uncertainty about demand from the world's No. 3 consumer Japan capped gains.
At 12:01 p.m. (0631 GMT), the yields on the most-traded 8.08 percent, 2022 bond was down 1 bp at 8.12 percent while the second-most traded 8.13 percent, 2022 bond was steady at 8.12 percent.
The relatively less traded benchmark 10-year bond yield also eased 1 bp to 8.00 percent from last close.
In the overnight indexed swaps, the benchmark five-year rate was down 4 bps at 8.02 percent against 8.06 percent last close.
The one-year swap rate was at 7.43 percent versus 7.46 percent at previous close.
Volumes in the bond market were at 14.85 billion Indian rupees ($330 million) according to data on the central bank's reporting platform.
Traders are awaiting details of the government's borrowing schedule for the first half of the upcoming fiscal year beginning April 1.
India's finance ministry and central bank officials will meet on March 25 to finalise the government borrowing schedule for this period.
The government aims to borrow, on a gross basis, 4.17 trillion rupees in the next fiscal year starting April, compared with a Reuters poll of 4.5 trillion rupees.