Price of government bonds on Thursday rose after the Economic Survey 2018-19 hinted the government will stick to its fiscal consolidation path. The 10-year bond yield fell 9 basis points to close at 6.748% compared with Wednesday's close of 6.833%. The Economic Survey has projected the Indian economy to grow at 7% in FY20, up from 6.8% in the previous fiscal. The Indian rupee also gained, partly helped by a court ruling allowing the sale of Essar Steel to ArcelorMittal. During the period, foreign investors bought $10.99 billion in Indian equities and $1.69 billion in the debt market.

Source: Mint July 04, 2019 14:15 UTC