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Bonds fell while the rupee trimmed earlier gains as the central bank held benchmark interest rates steady at 7.75 percent on Tuesday after easing monetary policy just three weeks ago.
Most economists polled by Reuters had expected the RBI to keep its repo lending rate steady, and reduce rates later so long as the budget, due to be unveiled by Finance Minister Arun Jaitley on Feb. 28.
The 10-year benchmark bond yield gained 4 basis points to 7.68 percent while the rupee trimmed intraday gains to 61.76 per dollar.
The Nifty fell 0.1 percent after central bank's decision but recovered later and were up 0.2 percent.
