Expect 10-year bond yield to trend towards 7.80% in near term: Dhawal Dalal

Dhawal Dalal of Edelweiss said,” Governmnet bond prices continued to drift lower amid declining trading volumes and lack of appetite for bonds. Market participants are focussing on trajectory of the rupee and crude oil for further cues in bond yields.”

“Market positions continue to remain light. Based on the recent move in bond yields, we expect the 10-year benchmark bond yield to trend towards 7.80 percent in the near term from a technical perspective,” he added.