Business Daily from THE HINDU group of publications
Wednesday, Jan 02, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Jan 02, 2008 ePaper | Mobile/PDA Version |
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Money & Banking
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Govt Bonds Bonds continue to move up Mumbai, Jan. 1 The bond market rallied taking comfort from the fact that there will be surplus cash in the system for the next few weeks, said dealers. The yields fell by four basis points and the prices went up by 30 paise on Tuesday. The yield was at 7.75 per cent. Dealers said that this was a crucial level and the market is anxious to know if the yields will break the 7.75 level. "The central bank might announce auctions for about Rs 10,000 crore this week but this will be offset by some redemption from G-sec for a similar amount. There will also be surplus cash of about Rs 10,000 crore from the special deposit scheme coming into the system," said Mr Anoop Verma, Dealer-Money Market, Treasury and Financial Institutions Group, Development Credit Bank. The total traded volumes on the order matching system were at Rs 14,835 crore (Rs 9,215 crore). The 7.99 per cent-10 year-2017 paper opened at Rs 101.35 (7.79 per cent YTM) and closed at Rs 101.61 (7.75 per cent YTM), against the previous close of Rs 101.31 (7.79 per cent YTM). The 8.33 per cent-2036 paper opened at Rs 102.48 (8.10 per cent YTM) and closed at Rs 102.75 (8.08 per cent YTM). - Our Bureau
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