The Hindu Business Line : Bond market weak

The bond market was weak and volumes were muted, ahead of the auction of Rs 10,000 crore worth government securities scheduled for July 4. The RBI announced the re-issue of the 10 year G-Sec for Rs 6,000 crore and the 24-year paper for Rs 4,000 crore. Prices hovered around the same levels as Tuesday’ close, said dealers.

“The market is likely to be listless until the auctions as nobody wants to take positions,” said a bond dealer with a private bank. The auction is likely to absorb further liquidity from the system. Total traded volumes on the order matching system were Rs 1,025 crore.

The 8.24 per cent-10 year-2018 benchmark paper opened at Rs 96.35 (8.80 per cent YTM) and closed at Rs 96.48 (8.78 per cent YTM), lower from the previous close of Rs 96.65 (8.75 per cent YTM). The 8.33 per cent -28-year-2036 paper opened at Rs 90.99 (9.23 per cent YTM) and closed at Rs 91 (9.23 per cent YTM), higher from the earlier close of Rs 90.76 (9.26 per cent YTM).-

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