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Our Bureau

Mumbai, May 24

The bond market was range-bound and prices fell by about 10 paise since there was no positive news for the market, dealers said. The 7.59 per cent 10-year 2016 paper opened at Rs 99.90 (7.6 per cent YTM) and closed at Rs 99.80 (7.6 per cent), lower than the previous close of Rs 99.91 (7.6 per cent ). The 7.4 per cent six-year 2012 paper opened at Rs 100.57 (7.28 per cent) and closed at Rs 100.58 (7.28 per cent) against the previous close of Rs 100.63 (7.26 per cent). The new 7.94 per cent 15-year paper, which was auctioned on Tuesday, traded below par at Rs 99.90, before closing at Rs 99.99. "There were no fresh bids in this paper," said a dealer with a private bank. According to him, while fears of a falling equity market had subsided for the moment, bond dealers would watch out for the squaring of futures and options on Thursday.The increasing liquidity, at Rs 65,000 crore on Wednesday, was a comforting factor, the dealer said.

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