• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• Smartbuy

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Mumbai, Aug. 8

The bond market was steady as the cut-off yield for the 10-year benchmark security was lower than expected and as oil prices eased, bond dealers said.

The cut-off yield for the 8.24 per cent 10-year benchmark security, which was reissued, was at 9.14, lower than market expectations of 9.2 per cent, said dealers.

Total traded volumes on the order matching system were higher at Rs 4,165 crore (Rs 2,225 crore).

However, according to a dealer with a public sector bank, bond yields are expected to go up, because liquidity is still an issue. The 8.24 per cent-10 year-2018 paper opened at Rs 94.5 (9.10 per cent YTM) and closed at Rs 94.97 (9.02 per cent YTM), against the previous close of Rs 94.50 (9.10 per cent YTM).

During day trade it touched a high of Rs 95.1 (9.00 per cent YTM). The 7.95 per cent 24-year 2032 paper opened at Rs 83 (9.8 per cent YTM) and closed at Rs 83.35 (9.76 per cent YTM). Next week, the market will look to oil prices and liquidity in the system, said dealers.

— Our Bureau

More Stories on : Govt Bonds

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line