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Mumbai, Oct. 9

Bond prices fell by over 70 paise after the cut-off prices for the auction were below market expectations. The Reserve Bank of India auctioned securities worth Rs 10,000 crore on Friday. The low cut-off prices indicate that there is not too much demand for the auctioned papers, said a dealer with a private bank. Due to lack of demand for the papers, around Rs 731.35 crore of G-secs were devolved on primary dealers. The total traded volumes on the order matching system were lower at Rs 5,645 crore (Rs 9,775 crore). The 6.90-10 year-2019 benchmark paper opened at Rs 97.8 (7.21 per cent YTM) and closed at Rs 97.08 (7.32 per cent YTM) against the previous close of 97.79 (7.22 per cent YTM). The 7.02-7-year-2016 per cent paper opened at Rs 98.77 (7.24 per cent YTM) and closed at Rs 98.41 (7.31 per cent YTM).

— Our Bureau

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