The yield on India’s 10-year G-Sec hovered above 6.5%, trading in a sideways range, as investors monitored the Reserve Bank’s next steps to support the market. The central bank resumed government bond purchases after a six-month pause, net buying 124.7 billion rupees in the week ending November 7, reinforcing expectations of continued support. Earlier data had hinted at the central bank’s presence, showing an investment category that includes the RBI buying a net 205 billion rupees of bonds for the same week. On the policy front, despite retail inflation hitting a record low, swap market traders have fully discounted any rate cut in December, as core inflation remains elevated. Markets now await November’s HSBC flash PMI figures this week for further cues. Foreign inflows into Indian bonds will also remain in focus in coming weeks, having increased further this month following a substantial rise in October.