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Mumbai, Nov. 17

The bond market was dull and lacklustre and yields moved in a range of 5-6 basis points in intra-day trade, as the Reserve Bank of India did not announce a rate cut along with the other measures, on Saturday, as was widely expected.

On Monday, the bond market saw more sellers and some counter-party deals, said a bond dealer with a private bank. There might be some buying on Tuesday as liquidity was comfortable, he added. The total traded volumes on order matching system were at Rs 4,870 crore (Rs 9,715 crore). The 8.24 per cent 10-year 2018 paper opened at Rs 105.15 (7.47 per cent YTM) and closed at Rs 104.86 (7.51 per cent YTM), against Friday’s close of Rs 105.1 (7.48 per cent YTM). The 7.95 per cent 24-year 2032 paper opened at Rs 98.38 (8.1 per cent YTM) and closed at Rs 98.83 (8.06 per cent YTM), against Friday’s close of Rs 98.48 (8.09 per cent YTM). The longer-end papers are seeing more activity, due to expectations of a rate cut, the dealer added. –

Our Bureau

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