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Our Bureau

MUMBAI: Call rates closed substantially lower at about 2-2.50 per cent with virtually no requirement of funds on reporting Friday, July 23.

Bond prices moved down during the day, only to recover towards the closing hours, said dealers. The year-on-year inflation number coming at 6.52 per cent was along the expected lines, they said. The prices fell by around 30 paise on inflation news but recovered again; profit-booking led to closing of prices at about opening levels in the morning, they added.

Volumes were about Rs 2,600 crore in the bond market. The 7.38 per cent 2015 per cent paper moved down to Rs 110.10 and rose to Rs 110.60 before closing lower at Rs 110.45. The 10-year benchmark touched a yield of 5.97 per cent before closing at 5.95 per cent.

The concerns regarding higher inflationary pressure riding on back of weak monsoon were adding to the pressure on bond prices, said a senior dealer with a private sector bank.

Under the LAF window, the RBI accepted 45 bids received worth Rs 13, 430 crore.

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