Business Daily from THE HINDU group of publications
Tuesday, Nov 17, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Tuesday, Nov 17, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Money & Banking
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Govt Bonds Bonds rally, but close flat Mumbai, Nov. 16 Bond prices strengthened slightly following bullish signals from the government securities auction. However, though the auction was well bid, the rally could not sustain and bond prices closed flat, said bond dealers. The two papers that were auctioned – 6.90 per cent and 7.02 per cent – were liquid securities. Therefore, they were well received and the market took it as a bullish signal, said a bond dealer with a public sector bank. But prices fell from the op ening high as dealers sold to book profits. According to an official with a private sector bank, most dealers prefer to make profits, even if the amount is small, rather than hold on to the stock. The total traded volumes on the order matching system were to the tune of Rs 6,715 crore (Rs 6,465 crore). The 6.90-10 year-2019 benchmark paper, which was one of the auction papers, opened at Rs 97.38 (7.28 per cent) and closed at Rs 97.18 (7.31 per cent YTM), against the previous close of Rs 97.10 (7.32 per cent YTM). The 6.35 per cent-11-year-2020 paper opened at Rs 90.67 (7.69 per cent YTM) and closed at Rs 90.42 (7.73 per cent YTM); against the previous close of Rs 90.50 (7.71 per cent YTM. — Our Bureau More Stories on : Govt Bonds
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