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Mumbai, July 23

Bond prices rose around 40 paise reacting to the RBI’s announcement of a relatively smaller sized Market Stabilisation Scheme (MSS) auction on Friday. Total traded volumes on the order matching system were at Rs 8,885 crore (Rs 8,595 crore). Dealers said that the announcement of a Rs 2,000-crore MSS auction was smaller than the expected Rs 5,000 crore. “The sentiment was positive as a smaller auction would mean less cash is drained from the system.

Traders had also been speculating about a hike in Cash Reserve Ratio hike and since that did not happen, there was immense relief,” said a dealer at a private bank. Market participants said that profit booking towards close had trimmed some of the gains made during the day. The 7.49 per cent-10 year-2017 paper opened at Rs 97.99 (7.78 per cent YTM) and closed at Rs 98.25 (7.75 per cent YTM), against the previous close of Rs 97.81 (7.81 per cent YTM). The 8.33 per cent-29 year-2036 paper opened at Rs 100.80 (8.25 per cent YTM) and closed at Rs 100.95 (8.24 per cent YTM), against the previous close of Rs 100.10 (8.32 per cent YTM). —

Our Bureau

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