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Our Bureau

Mumbai, March 12

Bond prices rose by about 30 paise and yields fell by about three-four basis points on the RBI's decision to absorb only Rs 2,000 crore under the market stabilisation scheme (MSS) through the auction of 6.65 per cent Government stock-2009. The market was expecting a bigger auction. Total traded volumes on the order matching system were Rs 4, 385 crore. "Auctions of dated government securities are also over; so bond prices are likely to move up this week," said a dealer at a private bank.

"However, advance tax outflows starting from March 15 may weaken the bond market," he said. The 8.07 per cent-10 year-2017 benchmark paper opened at Rs 100.75 (7.96 per cent YTM) and closed at Rs 100.84 (7.95 per cent YTM), against Friday's close at Rs 100.54 (7.98 per cent YTM). The 7.37 per cent-7 year-2014 paper opened at Rs 96.75 (7.97 per cent YTM) and closed at Rs 96.83 (7.96 per cent YTM).

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