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Our Bureau

Mumbai, June 12

Bond prices fell by around 10 paise as traders continued to sell in the market. The total traded volumes on the order matching system were Rs 2,780 crore (Rs 2,510 crore). Prices initially fell but recovered some of the losses as the cut off price for the Rs 5,000-crore auction of the 7.49 per cent-2017 paper was in line with expectations. "The cut off price of the auctioned paper was Rs 93.72 (8.44 per cent YTM) and this was near the historically high yield of 8.43 per cent YTM, which the 10-year paper touched in July 2006. There was good demand from traders who were sitting light," said a dealer at a private bank.

Market participants said the hardening of the 10-year yield in the US market to 5.2 per cent (5.16 per cent) also dampened sentiment. The 7.49 per cent-10-year-2017 paper opened at Rs 94.11 (8.38 per cent YTM) and closed at Rs 94.18 (8.37 per cent YTM), against the previous close of Rs 94.27 (8.35 per cent YTM). The 8.07 per cent-10 year-2017 paper opened at Rs 98.55 (8.29 per cent YTM) and closed at Rs 99 (8.22 per cent YTM), against the previous close of Rs 98.92 (8.23 per cent YTM).

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