The Hindu Business Line : Bond prices up

Bond prices rose by over 10 paise on some valuebuying. Total traded volumes on the order matching system were at Rs 2,505 crore. Dealers said that trading activity remained subdued as there is no direction in the market. "The advance tax outflows will begin draining surplus cash from the system on Monday. Despite this, the RBI lent banks only Rs 5,620 crore through the repo auction," said a dealer at a private bank. This week, there is a scheduled auction of Rs 6,000 crore and T-bill auctions worth Rs 3,000 crore. However, there are also bond redemptions worth Rs 3,000 crore. Market participants are now awaiting the domestic inflation figure to be released this Friday as it would factor-in the fuel price hike and provide a cue for bond prices. The 8.24 per cent-10 year-2018 benchmark paper opened at Rs 99.06 (8.38 per cent YTM) and ended at Rs 99.17 (8.36 per cent YTM), against the previous close at Rs 99.04 (8.38 per cent YTM). The 8.33 per cent-28 year-2036 paper opened at Rs 95.60 (8.75 per cent YTM) and closed at Rs 95.65 (8.75 per cent YTM). - Our Bureau

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