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Our Bureau

Mumbai, April 13

Bond prices saw a sell-off in the morning in anticipation of another round of rate hike in the annual monetary policy announcement next week. By the end of the day, however, the losses were retraced on surplus liquidity, said dealers.

While one section of the market is expecting a 25 basis points hike in repo and reverse repo in the announcement next week, another section expects it would happen only by June 2006. The newly issued 7.59 per cent 10-year 2016 paper opened at Rs 100.23 (7.56 per cent YTM), touched a low of Rs 100.15 (7.17 per cent YTM) and recovered to end at Rs 100.36 (7.54 per cent YTM) against Wednesday's close of 7.56 per cent. The 8.07 11-year 2017 paper opened at Rs 103.35, touched a high of Rs 103.45 (7.59 per cent TYM) a low of Rs 103.17 (7.62 per cent YTM) and closed at the same level as the open at Rs 103.35 (7.6 per cent YTM).

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