On September 22, around three crore shares exchanged hands at both the exchanges versus one-month average of seven lakh shares, showed data

"The short-end of the OIS curve is completely factoring in one more rate hike over the next few months while talks of rate cuts have died down for now," said Vijay Sharma, senior executive vice president at PNB Gilts

Bond yields have eased in the last few sessions, tracking their U.S. peers and moves in the overnight indexed swap (OIS) rates. U.S. yields and Indian swaps fell on rising speculation that the Fed's rate hike on July 26 would be its last in the current tightening cycle. The 10-year U.S. yield was around 3.75%, while the five-year OIS was at 6.21%.

The special segment of the Clearing Corporation of India's ClearCorp Repo Order-Matching System has shown an unusually large volume of transactions in the 10-year benchmark bond over the past couple of days, treasury executives said.