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Mumbai, Nov. 1

The bond market was down as crude oil prices touched $ 96. Bond prices opened lower in the morning due to the high oil prices. They recovered later as concerns of excess liquidity coming down eased. However, they closed lower and there was an intra-day movement of about 7-10 paise.

The market is also hoping that yields on short term papers would fall due to the lack of supply of government paper, said a bond dealer with a private bank. “Going by the fact that the RBI did not accept the MSS portion of the treasury bills auction, the market is hoping that there will no further auction, either direct MSS auctions or T-Bills auction,” he said.

Total traded volumes on the order-matching system were at lower at Rs 3,315 crore (Rs 4,130 crore). The 7.99 per cent –10 year-2017 paper opened at Rs 100.95 (7.85 per cent YTM) and closed at Rs 100.9 (7.85 per cent) against the previous close of 100.98 (7.84 per cent YTM). The 7.49 per cent –10 year-2017 paper opened at Rs 97.46 (7.85 per cent YTM) and closed at Rs 97.47 (7.87 per cent YTM) against the previous close of Rs 97.54 (7.86 per cent YTM). –

Our Bureau

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