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Mumbai, July 13

Bond prices saw a slight rise due to some value buying by PSU banks. Traded volumes also increased marginally to Rs 1,545 crore on the order matching system. Dealers said that investors, and not traders, were buying in the market. "A yield of 8.38-8.40 per cent on the 10-year paper is favourable for investors. This might continue until the Rs 5,000 crore government-securities auction between July 17 and 25," said a dealer at a private bank.

Dealer said that in the run-up to the auction and the quarterly review of the credit policy on July 25, the 10-year yield could harden to 8.40 per cent. The 7.59 per cent-10 year-2016 paper opened at Rs 94.90 (8.36 per cent YTM) and closed at Rs 95.05 (8.34 per cent YTM), higher than Wednesday's close at Rs 94.82 (8.38 per cent). The 7.37-8 year-2014 paper opened at Rs 95.25 (8.21 per cent YTM) and closed at Rs 95.23 (8.21 per cent YTM), against the previous close at Rs 95.05 (8.24 per cent YTM).

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