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MUMBAI: The bond market was dull with only Rs 617 crore worth volumes being reported, as several banks stayed away on account of financial year closing, said dealers. The 7.38 per cent 10-year-benchmark paper closed at Rs 105.19/20 (6.67 per cent YTM) slightly higher than the Thursday's close of 105.10 (6.68 per cent YTM). It had opened at Rs 105.20 (6.67 per cent YTM).

The movement was range-bound between 20 and 25 paise, said dealers.

Another reason for the lacklustre market was because players were waiting for the announcement of the Government's auction calendar, said dealers.

As it was already discounted for, the market is likely to see a drop on Saturday, said a dealer with a private broking house.

In the one-day repo under the liquidity adjustment facility, the RBI received and accepted 56 bids, amounting to Rs 38,930 crore. The currency markets and the interbank call market were closed as banks closed accounts for the fiscal year.

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