Bond Market
The market in which debt securities are issued and traded.
How it is identified
Test: the instrument traded represents a debt obligation rather than an ownership interest
Unit
qualitative
In depth
India's bond market is dominated by government securities, which account for the overwhelming majority of trading volume, while the corporate segment is largely private placements held to maturity by institutions. Most bond trading happens over the counter rather than on an exchange order book, so prices are negotiated and less transparent than equity prices. The Reserve Bank's NDS-OM platform is where government securities trade, and RBI Retail Direct gives individuals access to it. Thin corporate secondary liquidity is the practical fact that most affects a retail bond buyer: assume you will hold to maturity.
Worked example
Daily government securities turnover runs into tens of thousands of crores while a typical listed corporate bond may not trade at all on a given day. The same word describes two markets with entirely different liquidity.
Illustrative figures, chosen so the arithmetic is easy to follow. Not a live price and not a valuation of any company.
Educational reference only
This entry explains what “Bond Market” means. It is not investment advice and not a recommendation to buy or sell any security. Any numbers above are illustrative, not live prices, and nothing here predicts price direction or rates a stock. Consider your own circumstances and consult a SEBI-registered investment adviser before acting.