Yields dropped on Thursday even as the Reserve bank of India ( RBI) successfully sold R20,000 crore worth of bonds in its biggest auction ever under the government’s market borrowing plan. The full subscription was thanks to big bond redemptions and the rise in yields, which had whetted the appetite of investors.
Strong demand at the auction and the better-than-expected cut-off by the RBI fuelled buying in the secondary market as well, and the yield on the benchmark 10-year 8.83%, 2023 bond fell 5 basis points from the intra-day high to end at 8.85%.

Source - http://www.financialexpress.com