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Separately, the Reserve Bank of India rejected all bids at the treasury bill auction on Wednesday amid a rise in short term yields. The government had planned to raise ₹23,000 crores through the sale of 91-day, 182-day and 364-day treasury bills. Traders said the cutoff yields likely came in above the central bank's comfort level. The last time RBI cancelled a t-bill auction was in early June. Read more: Jio Platforms' IPO-linked inflows boost rupee; elevated oil prices spur caution Yields on the 10-year benchmark bond have increased due to high oil prices. The Reserve Bank of India rejected all bids at the treasury bill auction conducted recently. The government aimed to raise ₹23,000 crores through treasury bill sales but faced significantly higher yield bids. Market analysts indicate a potential 50 basis point hike by the RBI in December. "High oil prices, global yield pressure, FII selling and global fundamentals, nothing is working in our favour right now. The market is clearly signalling a 50 basis point hike in December, it is also seen from RBIs action in the T-bill auction today," said Anshul Chandak, head of treasury, RBL Bank. Read more: Sundaram Mutual Fund announces launch of Equity Ex-Top 100 Long Short Fund through its SIF platform Select The benchmark Brent crude stayed above $110 per barrel after nearing $112 on Tuesday, its highest in five months. Indian markets were shut on Tuesday for Dussehra. Oil prices were at $107 per barrel when Indian markets closed on Monday. High oil prices stoke inflation concerns, adding pressure on local currency and bonds, as India is a net importer of the commodity. In the T-bill auction, banks bid at yields at least 15 basis points higher than in the previous week's auction, a trader at a large state-run bank said. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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