Nilesh Shah of Axis Direct expects bond yields to cool off in the coming few days, along with an interest rate cut from the RBI.
Indian bond yields rose, while the rupee and stocks remained under pressure after Standard & Poor's cut India's outlook, with traders predicting pressure on the central bank to step in to prevent further falls in markets.
According to Tirthankar Patnaik of Religare Capital Markets, the size of the government’s borrowing program will weigh down heavily on the market.