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Mumbai, July 17

Bond prices rallied as the price of global crude showed signs of cooling. Total traded volumes on the order-matching system were at Rs 2,785 crore. Dealers said that the price of global crude easing to $133 per barrel from $138 per barrel was taken as a positive cue. The fall in metal prices was also seen as a positive factor since it would ease inflation. “The comments made by the Finance Minister about seeing signs of RBI’s monetary policy taking effect on i nflation also aided buying in the bond market,” said a dealer at a private bank. Market participants said that bond prices would be range-bound and react to the movement in oil prices. “If oil prices ease it would mean a smaller hike in interest rates,” said a dealer. The 8.24 per cent -10 year-2018 paper opened at Rs 93 (9.34 per cent YTM) and closed at Rs 93.74 (9.22 per cent YTM), against the previous close at Rs 92.78 (9.38 per cent YTM). The 5.87 per cent -2 year-2010 paper opened at Rs 95.25 (9.43 per cent YTM) and closed at Rs 95.35 (9.36 per cent YTM), against the previous close at Rs 95.16 (9.50 per cent YTM).

— Our Bureau

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