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Mumbai, Feb 28

Bond prices rose during the day but were almost unchanged from Wednesday’s close. Total traded volumes on the order matching system were at Rs 6,995 crore (Rs 5,020 crore). Dealers said that prices gained during the day as liquidity improved and call rates eased. Market participants expect the government borrowing programme (announced in the Union Budget) to increase in the next financial year.

“Bond yields will stay firm as the supply will increase in terms of more auctions. Besides, in the short term, banks will also mobilise deposits in the month of March,” said a dealer at a private bank.

The 7.99 per cent-9 year-2017 paper opened at Rs 102.65 (7.59 per cent YTM) and closed at Rs 102.58 (7.60 per cent YTM), against the previous close at Rs 102.57 (7.60 per cent YTM). The 8.33 per cent-28 year-2036 paper opened at Rs 103.80 (7.99 per cent YTM) and closed at Rs 103.55 (8.01 per cent YTM), against the previous close at Rs 103.65 (8 per cent YTM).– Our Bureau

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