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Our Bureau

Mumbai , March 31

G-Sec prices moved up by about 10-20 paise on Wednesday as `valuation deals' were struck to prop up prices. Traded volumes were high at over Rs 5,000 crore.

Valuation deals are transactions struck between market players in an effort to prop up prices since it is the last day of the financial year.

"G-Secs that were lying idle for the past 15-20 days were traded since it is in mutual interest for players to raise prices,'' said a dealer from a bond house. On March 31, players conduct a mark-to-market exercise through which they arrive at valuations of their government securities portfolio. The 8.07 per cent 2017 paper opened at Rs 124.29, touched a high of Rs 124.45 and closed a tad lower at Rs 124.37. Prices fell a tad with government official's statements serving as a damp squib.

Through the one-day repo, the central bank accepted funds worth Rs 22,000 crore, and through the seven-day repo, funds worth Rs 2,000 crore were sucked out of the system at the rate of 4.5 per cent.

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