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Mumbai, Sept. 6

The bond market was lacklustre as the uncertainty about liquidity conditions continued ahead of the Rs 7,000 crore Treasury-bills auction on Friday and the likely amount that would be drained out of the system due to the advance tax outflow. Bond prices moved in a very narrow range in a directionless market, said dealers. Total traded volumes on the order matching system were at Rs 2,660 crore. A bond dealer with a private bank said that there was very little trading. "Until the meeting of the US Federal Reserve on September 18, most participants are unlikely to be very active as there is very little direction," he said. The 7.49 per cent 10-year 2017 paper opened at Rs 97.22 (7.90 per cent YTM) and closed at Rs 97.13 (7.92 per cent YTM), against the previous close of Rs 97.07 (7.93 per cent YTM). The 7.99 per cent 10-year 2017 paper opened at Rs 100.6 (7.89 per cent YTM) and closed at Rs 100.61 (7.89 per cent YTM), against the previous close of Rs 100.55 (7.91 per cent YTM). - Our Bureau

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