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Mumbai, July 24

Bond prices fell by around 10-20 paise on profit booking. Total traded volumes on the order matching system were at Rs 4,710 crore (Rs 8,885 crore). Dealers said after the rally on Monday, traders were booking profits. There were also some pre-Credit Policy jitters. “Traders have now begun speculating about possible RBI action in the monetary policy review on July 31. The apprehensions may keep prices volatile in the next few days,” said a dealer at a private b ank. As the system is awash with liquidity, market participants are expecting a possible hike in the Cash Reserve Ratio. The RBI could also remove the Rs 3,000-crore limit under the reverse repo auction, said dealers. The 7.49 per cent-10 year-2017 paper opened at Rs 98.27 (7.74 per cent YTM) and closed at Rs 98.12 (7.77 per cent YTM), against the previous close of Rs 98.25 (7.75 per cent YTM). The 6.65 per cent-2 year-2009 paper opened at Rs 99.54 (6.93 per cent YTM) and closed at Rs 99.47 (6.98 per cent YTM). —

Our Bureau

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