Business Daily from THE HINDU group of publications
Friday, Jan 04, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Friday, Jan 04, 2008 ePaper | Mobile/PDA Version |
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Money & Banking
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Govt Bonds Bond prices down Mumbai, Jan 3 Bond prices fell slightly as over Rs 40,000 crore of cash in the system caused market participants to get anxious. Total traded volumes in the order-matching system were at Rs 7,005 crore (Rs 14,235 crore). Dealers said that the excess cash in the system has raised concerns about the RBI announcing Market Stabilisation Scheme auctions. "We have not had MSS auctions for over a month and traders are expecting an announcement on Friday. With IPOs like Reliance Power in the offing, cash in the system should remain surplus," said a dealer at a private bank. There was also profit-booking on the back of the rally over the past few days. The 7.99 per cent -9 year-2017 paper opened at Rs 101.70 (7.734 per cent YTM) and closed at Rs 101.55 (7.75 per cent YTM) against the previous close at Rs 101.63 (7.74 per cent YTM). The 8.33 per cent-28 year-2036 paper opened at Rs 102.75 (8.08 per cent YTM) and closed at Rs 102.50 (8.10 per cent YTM), against the previous close at Rs 102.83 (8.07 per cent YTM). - Our BureauMore Stories on : Govt Bonds
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