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Our Bureau

Mumbai, Sept. 14

Bond prices fell by about 38 paise on advance tax payments made by corporates. The total traded volume on the order matching system was Rs 2,720 crore (Rs 3,435 crore). Dealers said bond prices slipped on fears of a liquidity crunch following the tax payments.

"During the day, an IMF official said India's GDP growth being positive, a hike in interest rates seems likely. This impacted the market," said a dealer at a private bank. The Market Stabilisation Scheme (MSS) amount for 91-day T-bill was Rs 1,500 crore.

The RBI received 48 competitive bids, amounting to Rs 2,873.54 crore. The cut-off price was Rs 98.41 (6.48 per cent YTM). For 364-day T-bill, the MSS amount was Rs 1,000 crore. The RBI received 84 competitive bids amounting to Rs 4,980 crore. The cut-off price was Rs 93.54 (6.92 per cent YTM). The 7.59 per cent 10 year-2016 paper opened at Rs 98.95 (7.75 per cent YTM), down from Wednesday's close at Rs 98.97 (7.74 per cent YTM) and closed at Rs 98.59 (7.7996 per cent YTM). The 8.07 per cent 11 year-2017 paper opened at Rs 101.83 (7.80 per cent YTM) and ended at Rs 101.54 (7.84 YTM) lower than Wednesday's Rs 101.89 (7.80 per cent).

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