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Our Bureau

Mumbai, March 6

Bond prices were almost unchanged as uncertainty over the new Market Stabilisation Scheme (MSS) continued. Total traded volumes on the order-matching system were low at Rs 555 crore. The yield of the auctioned 6.65 per cent-government stock-2009 paper under MSS was 7.87 per cent higher than the expected 7.82/85 per cent. At the end of the trading session, the YTM on this paper was 7.81 per cent.

Dealers expect yields to harden after the Rs 7,000-crore Government security auction on Friday and advance tax outflows of more than Rs 40,000 crore after March 14. "The 10-year yield could harden to 8.10 per cent after the auction," said a dealer at a private bank. The 7.37 per cent-7 year-2014 paper opened at Rs 96.62 (7.998 per cent YTM) and closed at Rs 96.53 (8.02 per cent YTM), against Monday's Rs 96.54 (8.01 per cent YTM). The 8.07 per cent-10 year-2017 paper opened at Rs 100.71 (7.96 per cent YTM) and ended at Rs 100.80 (7.95 per cent YTM), against Monday's Rs 100.83 (7.94 per cent YTM).

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