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Our Bureau

Mumbai, March 29

Bond prices remained volatile with banks preparing for the close of the financial year. Total traded volumes on the order-matching system were Rs 2,000 crore (Rs 1,310 crore). Dealers said prices initially rallied as banks were buying to improve yields. "Lower bond yields imply better valuations and lower provisions for the investment portfolio. This was just window-dressing before close of the fiscal," said a dealer at a private bank.

However, prices fell towards the end on profit booking. "For foreign banks, this is just the end of the first quarter. So, they were able to sell and book profits," said a dealer. The 8.07 per cent-10 year-2017 paper opened at Rs 100.65 (7.97 per cent YTM) and closed at Rs 100.65 (7.97 per cent YTM). The recently auctioned 6.65 per cent two-year-2009 paper opened at Rs 97.45 (8.04 per cent YTM) and closed at Rs 97.47 (8.03 per cent YTM).

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