Business Daily from THE HINDU group of publications
Wednesday, Oct 10, 2007
ePaper
Business Daily from THE HINDU group of publications Wednesday, Oct 10, 2007 ePaper |
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Money & Banking
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Govt Bonds Bond prices close higher Mumbai, Oct. 9 Bond prices were range-bound during the day and ended slightly higher as traders remained anxious about auctions worth Rs 30,000 crore lined up for the week. Total traded volumes on the order matching system were Rs 1,715 crore (Rs 1,155 crore). Dealers said that the high amount of excess cash in the system had led to a speculation about a possible hike in the Cash Reserve Ratio in the upcoming review of the Credit Policy. "The bond market is likely to remain bearish ahead of the monetary policy. Although there is excess cash in the system, there may be several auctions to mop up liquidity," said a dealer at a private bank. The 7.49 per cent-10 year-2017 paper opened at Rs 97.01 (7.94 per cent YTM) and closed at Rs 97.04 (7.94 per cent YTM), against the previous close at Rs 96.96 (7.95 per cent YTM). The 7.99 per cent -10 year-2017 paper opened at Rs 100.40 (7.93 per cent YTM) and ended at Rs 100.44 (7.92 per cent YTM), against the previous close at Rs 100.37 (7.93 per cent YTM). - Our Bureau
Bond prices drop on auction news Bond yields steady despite liquidity surge Excess liquidity: RBI’s daily mop-up crosses Rs 50,000 cr More Stories on : Govt Bonds
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