India Gilts Review: Surge as govt source says RBI bid at auction Fri

Global Rubber Markets
MUMBAI – Government bond prices surged today after a Cogencis report that the Reserve Bank of India likely placed bids at the 200-bln-rupee auction on Friday boosted investor sentiment.

Cogencis reported that the RBI placed bids at the auction by allowing some market participants to become its proxy in purchasing dated securities .

This is seen as a hint of support from the central…