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Our Bureau

Mumbai, March 16

Bond prices dropped around 19 paise and yields rose by about two basis points on rising inflation. India's inflation rose to 6.46 per cent, for the week-ended March 3 against 6.1 per cent. "Liquidity is tight on advance tax outflows.

The RBI pumped Rs 19,705 crore into the system through its repo auctions. Call rates have also touched 10 per cent," said a dealer at a private bank. There was no interest in the market and trading was thin as the financial year 2006-07 rolls to an end. Total traded volumes on the order matching system were at Rs 1,140 crore (Rs 1,070 crore). "The yield on the 10-year paper is expected to touch 8.10 per cent next week," said the dealer.

The 8.07 per cent-10 year-2017 paper opened at Rs 100.30 (8.02 per cent YTM) and closed at Rs 100.35 (8.01 per cent YTM) against Rs 100.54 (7.99 per cent YTM) on Thursday. The 7.37 per cent-7 year-2014 paper opened at Rs 96.30 (8.08 per cent YTM) and closed at Rs 96.34 (8.06 per cent YTM) against the previous close of Rs 96.35 (8.05 per cent YTM) on Thursday.

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