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Our Bureau

Mumbai, April 4

Bond prices rose as liquidity improved on hopes that government spending would increase. There was some buying interest today, after a cautious approach on Monday, which was the first trading day of the new fiscal, said dealers.

The 9.39 per cent 5-year 2011 paper opened at Rs 109.1 (7.26 per cent YTM), touched a high of Rs 109.24 (7.24 per cent YTM) before closing at Rs 109.03 (7.28 per cent YTM) against the previous level of Rs 109.04 (7.28 per cent YTM). The 8.07 per cent 11-year 2017 paper opened at Rs 103.77 (7.55 per cent YTM) and ended trade at Rs 103.83 (7.54 per cent YTM) higher than Monday's close of Rs 103.70 (7.56 per cent YTM). RBI also announced the auction of two government papers for Rs 8,000 crore after market hours. According to a dealer with a private bank there would be good response to the auction of the 10-year paper for Rs 5,000 crore as it is a new paper and offers good yields in medium term.

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