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Our Bureau

Mumbai, Jan. 23

Bond prices have gained by almost 20 paise (yields dropped by three basis points) as the government cut import duties on metals, cement and other chemicals. "This is clearly a positive move to contain the inflation, which rose to 6.12 per cent last week," said a dealer at a private bank. Total traded volumes on the order matching system were at Rs 2,620 crore.

The bonds opened around five paise higher and gained significantly towards the end of trading, the dealer added. The 8.07-10 year-2017 benchmark paper opened at Rs 101.24 (7.88 per cent YTM) and closed at Rs 101.37 (7.86 per cent YTM) against Monday's Rs 101.17 (7.89 per cent YTM). The 7.59 per cent-9 year-2016 paper opened at Rs 98.73 (7.78 per cent YTM) and closed at Rs 98.60 (7.80 per cent) against Monday's Rs 98.04.

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