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Our Bureau

Mumbai, Jan. 3

Bond prices opened the day's trade bullish on lower call rates. Thye ended about six paise lower from Tuesday's close on concerns over the Rs 9,000-crore auction of government securities scheduled between January 5 and 12. Total traded volumes on NDS-order matching system were also less than Tuesday's at Rs 3,580 crore (Rs 6,290 crore). There is concern over the second phase of the CRR hike (0.25 per cent) effective Saturday, which could drain around Rs 6,750 crore of bank funds. The CRR will be 5.5 per cent effective January 6. "Most banks would borrow on Friday to cover their requirements ahead of Saturday," a bond dealer said.

The 8.07 per cent 10-year 2017 benchmark paper opened at Rs 103.86 (7.52 per cent YTM) and closed at Rs 103.71 (7.54 per cent YTM) against the previous close of Rs 103.77 (7.53 per cent YTM).The 7.59 per cent nine-year 2016 opened at Rs 100.4 (7.53 per cent YTM) and closed at Rs 100.29 (7.54 per cent YTM) against the previous close of Rs 100.35 (7.53 per cent YTM) against the previous close of Rs 99.80 (7.62 per cent YTM).

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