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Our Bureau

Mumbai, March 1

Bond prices gained by around 39 paise and yields went down by five basis points. According to dealers, after the prices fell by over 70 paise yesterday, investors bought securities in the market. However, the volumes were low as the market expects the liquidity to be drained out by next week.

"The second phase of CRR hike will be effective March 3 and a Rs 9,000 crore auction is expected in the first week of March. Advance tax outflows also begin from March 15," said a dealer at a private bank. Total traded volumes on the order matching system were lower at Rs 1,780 crore (Rs 1,965 crore). The 8.07 per cent-10 year-2017 benchmark paper opened at Rs 100.60 (7.98 per cent YTM) and closed at Rs 100.94 (7.93 per cent YTM) against Wednesday's close of Rs 100.55 (7.99 per cent YTM). The 7.37 per cent-7 year-2014 paper opened at Rs 97.75 (7.98 per cent YTM) and closed at Rs 96.83 (7.96 per cent YTM) against the previous close of Rs 96.63 (7.99 per cent YTM) on Wednesday.

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