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Our Bureau

Mumbai, Dec. 13

Bond prices fell by around seven paise and yields rose by around one basis point on strong selling by traders. "The cut-off yields for 91-day T-bills and 182-day T-bills were also below market expectations, which prompted selling in the market," said a dealer at a private bank. The cut-off yield on the 91-day T-bill was at 7.1 per cent and that of 182-day T-bill was at 7.25 per cent. "Bond prices in the early hours of trading were 35 paise higher than the previous close tracking low US yields, which fell by around three basis points," the dealer said. Dealers said the bond market was expected to remain volatile.

The 7.59 per cent-10 year-2016 paper opened at Rs 99.90 (7.6 per cent YTM) and closed at Rs 99.66 (7.64 per cent YTM) against Rs 99.73 (7.63 per cent YTM) on Tuesday. The 8.07 per cent-11 year-2017 paper opened at Rs 103.20 (7.61 per cent YTM) and ended at Rs 102.85 (7.66 per cent) against Tuesday's close of Rs 102.98 (7.64 per cent YTM).

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