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Our Bureau

Mumbai, Aug 10

Bond prices opened weak and the market was lacklustre in the first half of trade. However, there was buying in the latter half and prices gained in the last hour of trading following the announcement that RBI had transferred surplus profit of Rs 8,404 crore to the government. However, this was merely bargain hunting, said a dealer with a private bank.

"The market is waiting for next week's government paper auction of Rs 9,000 crore," he said. Prices moved in a range of 30-35 paise.The 7.59 per cent-10 year-2016 paper opened at Rs 96.45 (8.12 per cent YTM), touched a high of Rs 96.85 and a low of Rs 96.38. It ended at Rs 96.68 (8.09 per cent YTM) higher than the previous close of Rs 96.50 (8.12 per cent YTM).The 9.39 per cent-5 year-2011 paper opened at Rs 106.58, touched a high of Rs 106.84 before ending at Rs 106.78 (7.7 per cent YTM), against the previous close of Rs 106.60 (7.74 per cent YTM).

The RBI is auctioning a government paper of 10-14 years for Rs 6,000 crore and a paper of 20 years and more for Rs 3,000 crore.

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