Business Daily from THE HINDU group of publications
Tuesday, Sep 30, 2008
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Business Daily from THE HINDU group of publications Tuesday, Sep 30, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Money & Banking
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Debt Market Bond prices decline Mumbai, Sept. 29 Bond prices closed lower by about 50 paise from Friday's close on fears of tightness in liquidity, though they recovered from the day's low. Banks have been borrowing close to around Rs 1 lakh crore from banks for the last few days. Today they borrowed more than Rs 90,000 crore through the repo auction. Total traded volumes on the order matching system were Rs 3,560 crore (Rs 5,900 crore). Bond prices opened lower after the Reserve Bank of India announced the auction calendar for the second half of the fiscal on Friday. But they recovered later on hopes that the RBI may infuse liquidity, said a bond dealer with a private bank. Crude prices moving lower also helped bond prices recover from the day's low. Buying for valuation purposes, ahead of the half yearly closing, also aided the bond prices to some extent, the dealer added. The 8.24 per cent-10 year-2018 paper opened at Rs 97.05 (8.70 per cent YTM) and touched an intra-day low of Rs 96.86 (8.73 per cent YTM). It closed at Rs 97.56 (8.62 per cent YTM), against the previous close of Rs 97.87 (8.61 per cent YTM). The 7.94 per cent -13 year-2021 paper, which was the second most actively traded paper, opened at Rs 91 (9.15 per cent YTM) and fell to a low of Rs 90.85 (9.17 per cent YTM). It closed at Rs 91.08 (9.14 per cent YTM). - Our Bureau
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