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Our Bureau

Mumbai, May 31

The bond market continued to be weak as fears of a rate hike were confirmed by the strong GDP data. "The country's growth rate of over 9 per cent in the first three months of this year has confirmed the rate hike story," said a dealer with a private bank. Bond prices lost 10 paise in day trade, but recouped the losses by the end of the session. Volumes on the 10-year benchmark paper were short of Rs 1,000 crore, as the market is waiting for the domestic fuel price hike and inflation figures to be released later this week. The 7.59 per cent 2016 10-year benchmark paper opened at Rs 99.47 (7.66 per cent YTM) and touched a low of Rs 99.43 (7.67 per cent YTM) before closing at Rs 99.54 (7.65 per cent) against the previous close of Rs 99.53 (7.66 per cent YTM). The 7.94 per cent 2021 15-year paper opened Rs 99.52 (7.99 per cent YTM) and closed at Rs 99.5 (7.99 per cent YTM) against the previous close of Rs 99.60 (7.99 per cent YTM).

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