New Delhi, May 1 -- Indian government bond yields ended April largely unchanged from the previous month's closing levels, even as volatility picked up toward the end of the period amid a sharp rise in global crude oil prices and US Treasury yields. While the Reserve Bank of India's (RBI) dovish stance helped anchor sentiment, external risks continued to exert upward pressure on yields.

The benchmark 6.48% 2035 government bond yield closed at 7.0148% on Thursday, slightly higher than 6.9928% in the previous session. Over the course of April, the yield moved in a broad range of 6.8648% to 7.1421%, compared to its March-end level of 7.0345%. The Indian rupee also hit a record low during the week.

A key driver of the late-month bond selloff...