The Hindu Business Line : Marginal drop in bond prices

Bond prices fell marginally on account of lot of uncertainty in the market ahead of the auction of Government securities of Friday, said bond dealers. There is a scheduled auction of Rs 5,000-crore 10-year security on Friday. There was a lot of trading interest in the market due to easing in oil prices, said a dealer with a private bank. Total traded volumes on the order matching system were at Rs 7,930 crore (Rs 7,565 crore).

Banks are buying to meet up their SLR requirements, added the dealer. Another dealer expects the advance tax outflows to tighten the liquidity in the system. The 8.24 per cent-10 year-2018 paper opened at Rs 98.2 (8.51 per cent YTM) and touched an intra day high of Rs 98.45 (8.47 per cent YTM). It closed at Rs 98.32 (8.49 per cent YTM), against the previous close of Rs 98.42 (8.49 per cent YTM). The second highly traded security, 8.24 per cent-19 year-2027 paper opened at Rs 91.5 (9.19 per cent YTM) and closed at Rs 92.3 (9.10 per cent YTM). - Our Bureau

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