The Hindu Business Line : Bond prices up

Bond prices rose by around 70 paise as the price of global crude eased and the growth in industrial production fell. Total traded volumes on the order-matching system were at Rs 9,890 crore (Rs 5,355 crore). Dealers said that prices gained as the price of global crude fell to $125 per barrel, against Friday’s $126 per barrel. The lower industrial production numbers for March 2008 also led to a rise in prices. “It implies a slower economy and more investment in the bond market,” said a dealer at a private bank. Prices also inched up as the RBI did not announce the Market Stabilisation Scheme auctions on Friday. “This is an auction-free week and the next announcement is likely to come only this Friday. Even after the 25 basis point Cash Reserve Ratio hike there is surplus liquidity in the system,” said a dealer. The 8.24 per cent-10 year-2024 opened at Rs 102.50 (7.87 per cent YTM) and ended at Rs 103.06 (7.79 per cent YTM), against the previous close at Rs 102.35 (7.89 per cent YTM).The 7.59 per cent- 8 year-2016 paper opened at Rs 98 (7.93 per cent YTM) and closed at Rs 98.24 (7.89 per cent YTM).

— Our Bureau

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