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Our Bureau

Mumbai, March 9

The bond market, comfortable after the Government announced the private placement of bonds with RBI, continued to gain on Thursday. The net gain in bond prices at the end of trade was about 20 paise. The 8.07 11-year 2017 paper opened at Rs 104.9 (7.4 per cent YTM), touched a high of Rs 105.08 and closed at Rs 105.04 (7.38 per cent YTM), against the previous day's close of 7.4 per cent YTM. The other actively traded paper was the 9.39 5-year 2011 paper. It opened at Rs 109.43 (7.22 per cent YTM), touched a high of Rs 109.55 and closed at Rs 109.45 (7.21 per cent YTM). The next triggers for the market would be the amount of advance tax, the pressure on liquidity arising from it and the auction calendar for next year. "The market has improved after the Government said it may increase spending. However, traders are still cautious because of the advance tax outflow," a bond dealer said.

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