Mumbai, Nov. 5 -- India's 10-year bond yield pulled back from its day's low on Thursday, as state-run banks likely sold into the recent rally. The rupee gained for a fifth straight session as oil got cheaper.

Yields started the day lower, touching 7.07% in the morning as US Treasury yields and crude prices slipped and investors bet that the US-Iran standoff might ease. The drop didn't last. The 10-year couldn't stay below 7.10%, spent most of the day between 7.10% and 7.15%, and closed at 7.17%.

Traders also stayed on the sidelines before Friday's auction, where the government wants to raise Rs.36,000 crore by selling bonds that mature in 2041 and 2076.

The rupee ended at 94.48 per dollar, down from 94.65 on Wednesday, according to dat...