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Mumbai, Oct 3

Bond prices rose by around 10-15 paise spurred on by the excess liquidity in the system.

Total traded volumes on the order matching system were at Rs 3,235 crore (Rs 1,505 crore). Dealers said that excess cash of around Rs 53,000 crore in the system buoyed prices. “The excess cash reflects RBI’s intervention in the forex marke t and increase in government spending,” said a dealer at a private bank. However, statements made by the Finance Minister about the revision of the Market Stabilisation Scheme ceiling, led to selling in the market. The limit is currently fixed at Rs 1,50,000 crore and increasing the ceiling implies that there will be additional supply of securities to mop up cash from the system, said dealers.

The 7.49 per cent –10 year-2017 paper opened at Rs 97.20 (7.91 per cent YTM) and ended at Rs 97.31 (7.896 per cent YTM), against the previous close at Rs 97.21 (7.91 per cent YTM). The 7.99 per cent- 10 year-2017 paper opened at Rs 100.60 (7.897 per cent YTM) and ended at Rs 100.72 (7.88 per cent YTM), against the previous close at Rs 100.58 (7.90 per cent YTM). – Our Bureau

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