Financial Daily from THE HINDU group of publications
Thursday, Jun 23, 2005
Financial Daily from THE HINDU group of publications Thursday, Jun 23, 2005 |
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Money & Banking
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Forex Bond prices rally; rupee tad firmer Our Bureau
MUMBAI: The bond market saw a rally on Wednesday with the prices rising between 30 paise and 70 paise, ahead of the Rs 5,000 crore auction on Thursday and on positive factors such as good liquidity, fall in US yields and crude oil coming off highs, said dealers. The 7.55 5-year 2010 paper opened 25-30 paise higher at Rs 104.05 (6.58 per cent YTM). It touched a high of Rs 104.16 (6.54 per cent YTM) and ended at Rs 104.10/14 (6.55 per cent YTM) against Tuesday's close of Rs 103.90. The 7.38 10-year 2015 benchmark paper opened at Rs 104 (6.83 per cent YTM). It touched a high of Rs 104.10 (6.81 per cent YTM) and ended trade at Rs 104.05/10 (6.83 per cent) against the earlier close of 103.65/70 (6.87 per cent YTM). The 8.07 12-year 2017 paper, which is the most actively traded paper, opened at Rs 109 (6.93 per cent YTM), about 30-35 paise higher than the previous close. It touched a high of Rs 109.40 (6.88 per cent) and closed trade at Rs 109.03/31 (6.89 per cent) against Tuesday's level of Rs 108.76 (6.95 per cent YTM). The rupee gained on strong inflows, though trading in spot rupee was volatile, said dealers. The rupee ended trade at 43.54/55 against Tuesday's close of 43.57/5750. . Call rates were between 4.95 and 5 per cent (5 per cent). In the one-day reverse repo auction, under the Liquidity Adjustment Facility, RBI received and accepted 30 bids amounting to Rs 14,075 crore. The CBLO market saw 164 trades being put through in the rate range of 4.50 to 5.05 per cent aggregating to Rs 7,091.70 crore.
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