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Our Bureau

Mumbai, Nov. 6

Bond prices dropped by around nine paise on tight liquidity. Total traded volume on the order matching system decreased to Rs 3,445 crore (Rs 2,585 crore). "After an outflow of Rs 9,000 crore through auctions, the market expected the liquidity to be tighter than the present levels, which is around Rs 6,000-Rs 7,000 crore," said a dealer at a private bank.

Dealers said the bonds opened 25 paise lower tracking the US yields, which had fallen by 10-12 basis points last Friday. "Later in the day, prices improved on the statement of the Petroleum Minister that fuel prices could ease," the dealer said. "Two major banks were also seen buying in the market," he added.

The 7.59 per cent 10-year 2016 paper opened at Rs 99.49 (7.67 per cent YTM) and closed at Rs 99.56 (7.65 per cent YTM) against Rs 99.65 (7.64 per cent YTM) on Friday. The 8.07 per cent 11-year 2017 paper opened at Rs 102.62 (7.69 per cent YTM) and closed at Rs 102.86 (7.66 per cent YTM) against Friday's Rs 102.95 (7.64 per cent).

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Rupee weakens 10 paise

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