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Mumbai, Nov. 20

Bond prices rallied on Friday on the back of the bullish auction cut-off announced by the Reserve Bank of India. Prices rose by more than 50 paise after the cut-off yields were lower than market expectations, said dealers. The RBI auctioned Rs 10,000 crore of government securities. The total traded volumes on the order matching system were substantially higher at Rs 22,115 crore (Rs 14,475 crore). The 6.90-10 year-2019 benchmark paper opened at Rs 97.58 (7.25 per cent YTM) and closed at Rs 98.04 (7.18 per cent YTM). On Thursday, the benchmark had closed at Rs 97.55 (7.25 per cent YTM). The 6.35 per cent-11-year-2020 paper opened at Rs 91.20 (7.61 per cent YTM) and closed at Rs 91.61 (7.54 per cent YTM), against the previous close of Rs 91.07 (7.63 per cent YTM).

— Our Bureau

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