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Our Bureau

Mumbai, Nov. 17

Bond prices gained due to strong demand after the profit booking on Thursday. The announcement of the auction of government securities worth Rs 5,000 crore also did not dampen market sentiments, said dealers. The RBI will auction the 10-year 8.07 per cent 2017 government paper. "The auction was expected. Also SLR requirements will increase as banks go in for deposit mobilisation. So, there will be good demand for the paper," said a dealer with a private bank. The total traded volume on the order matching system was higher at Rs 3,830 crore (Rs 2,655 crore).

The 7.59 per cent, 10-year, 2016 paper opened at Rs 100.35 (7.54 per cent YTM) and closed at Rs 100.39 (7.43 per cent YTM) against the previous close of Rs 100.30 (7.54 per cent YTM). The 8.07 per cent, 11-year, 2017 paper opened at Rs 103.80 (7.53 per cent YTM) and closed at Rs 103.88 (7.51 per cent YTM) against the previous close of Rs 103.77 (7.53 per cent YTM). Wholesale price index inflation for the week ended November 4 rose to 5.3 per cent, from 5.09 in the pervious week. Inflation is likely to cross RBI's comfort range of 5-5.5 per cent in the next 15 days, the dealer said. The yields on the 10-year benchmark are unlikely to cross 7.5 per cent next week, as there are no major triggers. However, yields at the shorter end could shoot up as liquidity is tight and call rates are ruling higher, the dealer added.

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