Bonds in India Gain as Lower Debt Supply Boosts Sentiment

India announced a borrowing plan for the first half of the next fiscal year that’s lower than market expectations, triggering gains in longer-maturity bonds.

The government plans to sell eight trillion rupees ($93.2 billion) of bonds in the six months to September, the Ministry of Finance said in a statement after trading ended on Thursday. That’s lower than the 8.4 trillion rupees estimated in a Bloomberg News survey.