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Mumbai, Oct. 10

Bond prices surged by over Re 1 after the Reserve Bank of India cut the CRR by an additional 100 basis points. Bond yields closed about 20 basis points lower, which means Rs 1.2 higher, said bond dealers. The cancelling of the Rs 10,000-crore auction of Government securities also aided the market as it would ease the liquidity in the system. However, bond prices came off the day’s high due to profit taking, towards the end of trade, said a bond dealer with a private bank. “There were only stray deals at the higher levels,” he said. Total traded volumes on the order matching system were Rs 9,640 crore. The 8.24 per cent -10 year-2018 paper opened Rs 102.4 (7.88 per cent YTM) and closed at Rs 102.95 (7.79 per cent), against Wednesday’s close of Rs 101.7 (7.98 per cent YTM). During the day it touched a high of Rs 104 (7.64 per cent YTM). The 7.94 per cent -13-year -2021 paper opened at Rs 97.5 (8.26 per cent YTM) and closed at 98.25 (8.16 per cent YTM). During the day it touched a high of Rs 99.35 (8.02 per cent YTM).

— Our Bureau

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