It was the second time the developer, which owes 2 trillion yuan, paid bondholders one day before it would be declared in default.
Evergrande Group's struggle to reduce its 2 trillion yuan ($310 billion) of debt to comply with tighter official curbs on borrowing has prompted fears a default might trigger a financial crisis.
Stocks have been choppy for weeks as rising inflation and lackluster economic data raised concerns about the path ahead for economic recovery.
Experts are keeping a close tab on a dozen real estate firms, which are up for debt repayment by the end of this year.
Some Chinese developers are struggling to repay debt after regulators tightened limits last year on their use of borrowed money.
Chinese officials are telling newspersons that 'they are getting ready for a possible storm', and it points in the opposite direction.
Evergrande is set to default on at least one tranche of bond interest payments totalling around USD 120 million, due at the end of September.
Economists say banks and bondholders are likely to lose money if Evergrande restructures its $310 billion debt but Beijing has the resources to prevent a Chinese credit crunch.
The lesser than expected correction in Chinese shares is a short term breather for the markets, the report by a team led by Abheek Barua said, adding they continue to remain cautious.
Evergrande, whose liability exceeds over $300 billion, is struggling to pay $83.5 million in interest relating to its March-2022 bond on Thursday.
Economists expect Beijing to intervene if Evergrande and lenders can't agree on how to handle its debts.
One of China's biggest real estate developers Evergrande Group appears likely to be unable to repay all of the USD 89 billion it owes banks and other bondholders, financial rating agencies say.