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Mumbai, Sept. 4

Bond prices fell by around 10 paise as traders were cautious ahead of the Rs 7,000-crore auction on Friday. Total traded volumes on the order matching system were at Rs 2,725 crore (Rs 5,195 crore). Dealers said traders were not taking any major positions ahead of the auction. Market participants are also expecting the US Fed to cut interest rates at its September 18 meeting.

“Also, there will be advance tax outflows to the tune of Rs 35,000 crore after September 15 and liquidity could come under pressure. So, the bond market might not see any major movement until then,” said a dealer at a private bank. The 7.49 per cent 10-year 2017 paper opened at Rs 97.30 (7.89 per cent YTM) and ended at Rs 97.15 (7.92 per cent YTM), against the previous close at Rs 97.25 (7.90 per cent YTM). The 7.99 per cent 10-year 2017 paper opened at Rs 100.80 (7.87 per cent YTM) and ended at Rs 100.67 (7.89 per cent YTM), against the previous close at Rs 100.76 (7.87 per cent YTM). –

Our Bureau

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