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Our Bureau

Mumbai, Sept. 6

Bond prices fell by around 15 paise as traders booked profits. The traded volume on the order matching system was Rs 2,990 crore (Rs 5,695 crore).

Dealers said bond prices were initially trailing the US ten-year treasury yield, which rose to 4.78 per cent (4.72 per cent). "In the absence of major negatives, bond prices have rallied in the past few days. So, a correction was bound to happen at some point," said a dealer at a private bank. Traders expect prices to fall on Thursday and said the 10-year yield could touch 7.8 per cent ahead of the Rs 9,000-crore auction on Friday. The 7.59 per cent-10 year-2016 paper opened at Rs 98.81 (7.77 per cent YTM) and closed at Rs 98.72 (7.78 per cent YTM), lower than Tuesday's close at Rs 98.90 (7.75 per cent YTM). The 8.07 per cent-11 year-2017 paper opened at Rs 101.71 (7.82 per cent YTM) and closed at Rs 101.72 (7.82 per cent YTM), against Tuesday's close at Rs 101.89 (7.7984 per cent YTM).

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