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Our Bureau

Mumbai, Aug. 24

Bond prices gained for the second day in a row due to reasons such as likely pause in interest rate hike cycle, banks looking to buy more securities to meet their SLR requirements and fresh liquidity being infused into the system as two bonds — 13.85 per cent, 2006 paper and the 4.83 per cent, 2006 — maturing on August 26 and August 28 respectively. Bond prices gained about 40 paise on Thursday.

"As banks will have to replace stocks with two papers maturing, there will be good demand for Government securities. Due to this volumes too will increase," said a dealer with a private bank. The 7.59 per cent-10 year-2016 paper opened at Rs 97.4 (7.98 per cent YTM) and closed at Rs 97.8 (7.92 per cent YTM) against the previous close of Rs 97.34 (7.99 per cent YTM). The 8.07 per cent-11 year-2017 paper opened at 100.3 (8.02 per cent YTM) and closed at Rs 100.78 (7.96 per cent YTM) higher than the previous close of Rs 100.20 (8.04 per cent YTM).

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