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Mumbai, Jan. 2

Bond prices rallied by almost 55 paise (yields went down by around nine basis points) on easy liquidity. "The liquidity has been comfortable and the call rates have also dropped to 8-8.50 per cent," said a dealer at a private bank.

In the past week, 10-year yields were in the range of 7.61- 7.63 per cent on liquidity crunch. Total traded volumes on NDS-order matching system have also improved to Rs 6,290 crore (Rs 1,260 crore). "The market also expects inflows from government spending and special deposit schemes," he said. "The sentiment seems positive for the bond market and the yield on 10-year paper is likely to remain in the same range," he added.

The 7.59 per cent 10-year 2016 paper opened at Rs 99.90 (7.60 per cent YTM) and closed at Rs 100.35 (7.53 per cent YTM) against the previous close of Rs 99.80 (7.62 per cent YTM). The 8.07 per cent 11-year 2017 paper opened at Rs 103.20 (7.61 per cent YTM) and closed at Rs 103.77 (7.53 per cent YTM) against Friday's Rs 103.14 (7.62 per cent YTM).

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