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Mumbai, Oct 8

Bond prices fell after the announcement of the government securities sale as most traders felt the supply of bonds would be in excess. The negative sentiment was also reflected in the high yields of the Rs 5,000-crore state development loan auctions, which was at least 10 basis points above expectations, said a bond dealer with a public sector bank. Volumes in the bond market were lower at Rs 1,155 crore (Rs 1,930 crore).

“We felt that yields would increase by about 30 basis points against the earlier auction. But the yields have increased by over 40 basis points”. The yields of the SDL were between 8.31 per cent and 8.40 per cent. As against this, the yields were at 8.2 per cent in last week’s auction, he said.

On Monday, the 7.49 per cent 10-year-2017 paper opened at Rs 97.05 (7.94 per cent YTM) and closed at Rs 96.96 (7.95 per cent YTM), against the previous close of Rs 97.05 (7.94 per cent YTM). The 7.99 per cent 10-year-2017 paper opened at Rs 100.36 (7.93 per cent YTM) and closed at 100.37 (7.93 per cent YTM) against the pervious close of Rs 100.5 (7.91 per cent YTM). –

Our Bureau

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