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Our Bureau

Mumbai, Nov. 3

Bond prices dropped sharply by around 29 paise (yields went up by four basis points) on tight liquidity. Total traded volume on the order matching system decreased to Rs 2,585 crore (Rs 4,810 crore). Inflation has inched up to 5.41 per cent (5.26 per cent) for the week ended October 21. "High inflation also pushed down the prices," said a dealer at a private bank.

The auctions of the 7.4 per cent six-year 2012 and the 7.5 per cent 28-year 2034 government papers were over subscribed. For the 7.4 per cent 2012 paper, the notified amount was Rs 6,000 crore against which the RBI received 274 competitive bids of Rs 15,288 crore. The cut off price was Rs 99.54 (7.5 per cent YTM).

The RBI accepted 113 competitive bids for around Rs 5,988.17 crore. The partial allotment percentage of competitive bids was 19.41 per cent from 8 bids with the weighted average price being Rs 99.61. The RBI also received and accepted 15 non-competitive bids amounting to Rs 11.82 crore. The partial allotment percentage on non-competitive bids was 100 per cent.

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