The Hindu Business Line : Bond prices move higher

Bond prices rose by around 15 paise reacting to the fall in the domestic stock market and the cut in interest rates by leading public sector banks. The total traded volumes on the order matching stood at Rs 12,645 crore (Rs 13,195 crore).

"The fall in the stock market makes the bond market a more attractive avenue of investment. The rate cut by SBI and other public sector banks also signals easing interest rates," said a dealer at a private bank. Market participants said that the 10-year yield is likely to ease to 7.35 per cent in the near term.

The 7.99 per cent-9 year-10 year paper opened at Rs 103.53 (7.46 per cent YTM) and closed at Rs 103.66 (7.44 per cent YTM), against the previous close at Rs 103.48 (7.47 per cent YTM). The 8.33 per cent-28 year-2036 paper opened at Rs 106.50 (7.76 per cent YTM) and ended at Rs 106.83 (7.73 per cent YTM), against the previous close at Rs 106.45 ( 7.76 per cent YTM). - Our Bureau

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