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Our Bureau

Mumbai, Aug. 3

Bond prices ended flat and the traded volume was low. The total traded volume on the order-matching system stood at Rs 1,285 crore. Dealers said that prices initially rose on the back of rumours that there would be no more hikes in the US interest rate by the Federal Open Market Committee. However, the hiking of interest rates by the Bank of England and the European Central Bank sparked fears that the RBI could also increase rates. "The 25 basis point hike by the Bank of England took the market by surprise and traders began selling in the bond market," said a dealer at a private bank. The 7.59 per cent-10 year-2016 paper opened at Rs 95.38 (8.29 per cent YTM) and closed at Rs 95.36 (8.29 per cent YTM, almost the same level as Wednesday's Rs 95.39 (8.29 per cent YTM). The 7.55-4 year-2010 paper opened at Rs 99.33 (7.75 per cent YTM) and closed at Rs 99.44 (7.72 per cent YTM).

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