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Our Bureau

Mumbai, Nov. 15

Bond prices gained by about 21 paise on belief that there will be no adverse impact on interest rates and there will be no pressure on liquidity, said dealers. "Prices surged due to absence of negative factors," said a bond dealer. Total traded volumes on the order matching system were Rs 8,415 crore (Rs 7,520 crore).

The 7.59 per cent-10 year-2016 paper opened at Rs 100.30 (7.54 per cent YTM) and touched a high of Rs 100.65 (7.49 per cent YTM) during day trade. It ended at Rs 100.43 (7.52 per cent YTM) against the previous close of Rs 100.21 (7.56 per cent YTM).

The 8.07-11 year-2017 paper opened at Rs 103.75 (7.53 per cent YTM) and touched a high of Rs 103.99 (7.50 per cent). It ended at Rs 103.86 (7.52 per cent) against the previous close of Rs 103.70 (7.53 per cent YTM). After the rally in the morning, bond prices fell due to profit booking, as traders did not want to keep overnight position, the dealer said. The likely range for the yield on the 10-year benchmark could be 7.5-7.55 per cent, he said. Volumes in government securities would rise, as banks will increase their deposit base to raise resources, which consequently means a higher SLR requirement, he added.

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