Business Daily from THE HINDU group of publications
Friday, Jan 11, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Friday, Jan 11, 2008 ePaper | Mobile/PDA Version |
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Money & Banking
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Govt Bonds Bond trade volumes rise Mumbai, Jan. 10 The bond market saw good momentum and volumes, taking cues from global developments . Expectations of a domestic rate cut are getting stronger, said a bond dealer with a private bank. The total traded volumes on the order matching system were at Rs 17,365 crore (Rs 10,610 crore). The 7.99 per cent government paper, which was the most actively traded paper, saw volumes of more than Rs 4,000 crore. The comfortable liquidity was also adding to the positive sentiment, the dealer said. The 7.99-9 year-2017 paper opened at Rs 102.22 (7.66 per cent YTM) and closed at Rs 102.83 (7.57 per cent), against the previous close of Rs 102.28 (7.65 per cent YTM). The 8.33-28 year-2036 paper opened at Rs 104.4 and closed at the same level (7.94 per cent YTM). During the day it touched a high of Rs 103.7 (7.99 per cent YTM). The auction of Government paper worth Rs 10,000 crore, scheduled on January 11, has already been discounted by the market, and therefore, is not likely to have a big impact, the dealer said. About the impact of inflation figures, which will be released on Friday, the dealer said that it is expected to be in a range of 10 basis points, up or down. Unless inflation is lower or higher by about 50 basis points, it too will not have a big impact, he added. – Our Bureau More Stories on : Govt Bonds
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