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Our Bureau

Mumbai, Dec. 4

Bond prices fell by about 26 paise (yields went up by almost four basis points) as the market turned cautious before the Rs 9,000-crore auction of government securities by January 12. "The second phase of CRR hike (effective Saturday) will drain out Rs 6,750 crore from the banking system, affecting liquidity," said a dealer at a private bank. "The market, however, opened seven to eight paise higher than the previous close with the easing of call rates," the dealer added. Total traded volumes on NDS-order matching system were lower at Rs 2,335 crore (Rs 3,580 crore).

The 8.07 per cent 10-year 2017 benchmark paper opened at Rs 103.78 (7.53 per cent YTM) and closed at Rs 103.45 (7.57 per cent YTM) against Wednesday's Rs 103.71 (7.54 per cent YTM). The 7.59 per cent nine-year 2016 opened at Rs 100.33 (7.54 per cent YTM) and closed at Rs 100.07 (7.58 per cent YTM) against Rs 100.29 (7.54 per cent YTM) on Wednesday.

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