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Our Bureau

Mumbai, March 24

Bonds opened firm on the statement made by the Finance Minister that the central bank would intervene to manage liquidity next week. Prices opened about 15 paise higher from the previous close. But towards the second half of trading, dealers squared their position with the RBI announcing the auction calendar. "The government securities lost all gains made today because of concern about the auction calendar. But the calendar is as per expectations," said a dealer with a private bank. The inflation at 4.28 per cent, higher than the expected 3.96 per cent, was also a dampener. The 8.07 per cent 11-year-2017 paper opened at Rs 105.25 (7.35 per cent YTM), touched a high of Rs 105.28 and a low of Rs 104.99. It closed at Rs 105.05 (7.38 per cent YTM), marginally lower than Thursday's close of Rs 105.08 (7.38 per cent YTM). The 9.39 per cent 5-year-2011 paper opened at Rs 109.8 (7.12 per cent YTM), touched a high of 109.94 and a low of Rs 109.58 before ending at Rs 109.72 (7.13 per cent YTM), lower than Thursday's close of Rs 109.55 (7.18 per cent YTM).

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