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Our Bureau

Mumbai, Feb. 6

Bond prices dropped by around 26 paise (yields went up by five basis points) as the market turned bearish ahead of the Rs 9,000-crore auction on Friday. Total traded volumes on the order matching system also dipped to Rs 1,410 crore (Rs 3,195 crore). "There was less participation in the market and bond prices weakened because the market expects the inflation to be on a higher side this week on oil prices firming up to $59 per barrel," said a dealer at a private bank.

The 8.07 per cent-10 year-2017 paper opened at Rs 102.45 (7.71 per cent YTM) and closed at Rs 102.17 (7.76 per cent YTM) against Rs 102.43 (7.71 per cent YTM) on Monday. The 8.33 per cent-9 year-2016 paper opened at Rs 99.15 (7.72 per cent YTM) and closed at Rs 99.04 (7.74 per cent YTM).

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