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Mumbai, Oct. 4

Bond prices fell by 12 paise and the yields hardened by two basis points on Thursday.

“The market was stable in the morning session on the back of comfortable liquidity, the prices, however, fell by15-20 paise later in the day on rumours that the RBI would take measures to suck out the surplus liquidity from the system either by way of a hike in the cash reserve ratio or a large Market Stabilisation Scheme auction,” said a dealer with a private bank. The total traded volumes on the order matching system were at Rs 2,230 crore (Rs 3,235 crore).

Dealers felt that the surplus cash in the system was mainly due to RBI’s intervention in the forex market and also partly because of government spending.

The 7.49 per cent 10-year-2017 paper opened at Rs 97.36 (7.89 per cent YTM) and closed at Rs 97.19 (7.91 per cent YTM), against the previous close of Rs 97.31 (7.896 per cent YTM). The 7.99 per cent 10-year-2017 paper opened at Rs 100.75 (7.88 per cent) and closed at Rs 100.63 (7.89 per cent YTM), against the previous close of Rs 100.72 (7.88 per cent YTM). –

Our Bureau

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