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Mumbai, Oct. 28

Bond prices rose by around 48 paise on Wednesday as positive sentiments prevailed in the market post the SLR hike in the second quarter review of the monetary policy. There are no downside risks as there is no auction scheduled this week, said a dealer with a private bank. Even though most banks’ SLR holding is more than 27 per cent, dealers still expect that the hike in the limit will lead to increased demand for the G-secs from banks. “Most banks like to keep a 1-2 per cent cushion. So the hike in the limit will see demand for G-secs increasing,” the dealer added. The total traded volumes on the order matching system were high at Rs 15,285 crore. The 6.90-10 year-2019 benchmark paper opened at Rs 97.12 (7.31 per cent YTM) and closed at Rs 97.44 (7.27 per cent YTM), against the previous close of 96.96 (7.34 per cent YTM). The 7.02-7-year-2016 per cent paper opened at Rs 98.15 (7.36 per cent YTM) and closed at Rs 98.31 (7.33 per cent YTM).

— Our Bureau

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