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Our Bureau

Mumbai, March 28

Bond prices were volatile on Wednesday as cash shortage remained a concern. Total traded volumes on the order-matching system were Rs 1,310 crore (Rs 1,805 crore). The sentiment was initially bearish as the call rate rose to touch an intra-day high of 25-30 per cent and global crude prices inched up. The 10-year benchmark paper hardened to 8 per cent YTM. However, on signs of improvement in liquidity with the acceptance of Rs 1,000 crore through the RBI's reverse repo window, prices moved up. Call rates eased to close at 7.5-8 per cent. The auction cut-off for the 6.65 per cent - 2009 paper for raising Rs 6,000 crore under MSS was 8.15 per cent, was considered bearish. "The pressure on liquidity is likely to ease as government spending of around Rs 15,000 crore will enter the system," said a dealer.

The 8.07 per cent-10 year-2017 paper opened at Rs 100.50 (7.99 per cent YTM) and closed at Rs 100.69 (7.96 per cent YTM), against Monday's Rs 100.48 (7.99 per cent YTM). The 7.37 per cent-7 year-2014 paper opened at Rs 96.60 (8.01 per cent YTM) and closed at Rs 96.55 (8.01 per cent YTM), against Monday's Rs 96.54 (8.02 per cent YTM).

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