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Our Bureau

Mumbai, Feb. 21

Bond prices rose by over 30 paise on a rise in rupee liquidity. Total traded volumes in the order matching system were Rs 6,135 crore (Rs 2,130 crore). Dealers felt the central bank's intervention in the forex market and an increase in the Government spending could have eased the pressure on liquidity. The RBI absorbed excess cash of Rs 3,490 crore from banks under the reverse repo facility on Wednesday. "There has been some value buying this week as traders have been staying light after last week's crash," said a dealer at a private bank. Market participants expect bond prices to be range-bound until the annual credit policy in April, in which there could be another round of rate hikes. The 7.37-7 year-2014 paper (most actively traded paper) opened at Rs 96.65 (7.99 per cent YTM) and closed at Rs 96.91 (7.94 per cent YTM), against Tuesday's Rs 96.58 (8 per cent YTM).

The 8.07 per cent-10 year-2017 paper opened at Rs 100.65 (7.97 per cent YTM) and closed at Rs 101 (7.92 per cent YTM), against Tuesday's Rs 100.45 (8 per cent YTM).

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