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Mumbai, April 22

Bond prices rose as increase in surplus liquidity in the system aided sentiment. Total traded volumes on the order matching system were at Rs 5,200 crore (Rs 2,160 crore). Dealers said that prices rose as surplus cash in the system increased to around Rs 39,705 crore under RBI’s liquidity adjustment facility, against Monday’s Rs 18,000 crore. “This means that even after the CRR hike, there will be surplus cash in the system. The rates in the money market will not be under pressure,” said a dealer at a private bank. Market participants said that the increase in liquidity could be attributed to the increase in government spending. Prices are, however, expected to remain range-bound until the annual review of the monetary policy. The 8.24 per cent-10 year- 2018 benchmark paper opened at Rs 100.46 (8.17 per cent YTM) and closed at Rs 100.53 (8.16 per cent YTM). The 7.99 per cent- 9 year-2017 paper opened at Rs 98.85 (8.17 per cent YTM) and ended at Rs 98.90 (8.16 per cent YTM), against the previous close at Rs 98.71 (8.19 per cent YTM).

— Our Bureau

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