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Mumbai, July 20

The US Fed Governor's signals about a possible pause in the interest-rate tightening cycle brought cheer to the domestic bond market. Prices gained by around 25 paise. Dealers said that the possibility of the postponement of the Rs 5,000-crore government securities auction also aided sentiment. "Traders will play in a narrow band and stay light ahead of the credit policy," said a dealer. The 7.59 per cent-10 year-2016 benchmark paper opened at Rs 95.28 (8.30 per cent YTM) and closed at Rs 95.26 (8.31 per cent YTM), up from Wednesday's close at Rs 95 (8.35 per cent YTM). The 9.39 per cent-5 year-2011 paper opened and closed at Rs 106.30 (7.83 per cent YTM), higher than Wednesday's 106.15 (7.86 per cent YTM).

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