The Hindu Business Line : Bonds gain by 15 paise

Rate cut expectations overrode the negative investor sentiments in the government securities market on Friday. Bond prices gained by 15 paise in a market that witnessed high trading volumes. Total traded volumes on the order matching system were at Rs 11,390 crore. The markets opened with a downward bias as investor sentiments were adversely affected on account of the terror strikes. However, expectations of a rate cut announcement after a meeting between the Reserve Bank of India and the country’s top bankers pushed the prices of the benchmark security to the day’s high, said a dealer with a private bank. But profit booking by investors in the latter part of the day pulled the prices down, added the dealer. The 8.24 per cent-10 year-2018 paper opened at Rs 107. 5 (7.13 per cent YTM) and touched an intra-day high of Rs 108.16 (7.03 per cent YTM). It closed at Rs 107.9 (7.07 per cent YTM), as against the previous close of Rs 107.75 (7.10 per cent Y TM). The 7.94 per cent-13 year-2021 paper opened at Rs 104.6 (7.36 per cent YTM) and closed at Rs 105.2 (7.29 per cent YTM).

— Our Bureau

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