The Hindu Business Line : Bond prices up

Renewed expectations of a rate cut by the Reserve Bank of India buoyed bond prices, with the benchmark security closing at Rs 108, up by 10 paise on Monday. The bond prices opened with a positive bias and gained further on reports that the European Central Bank and Federal Reserve may review rates at their scheduled meetings this week, said a dealer with a private bank. However, profit booking by investors in the latter half of trade pulled down bond prices off their day's highs, added the dealer. Total traded volumes on the order matching system were at Rs 10,565 crore (Rs 11,390 crore).

The 8.24 per cent-10 year-2018 paper opened at Rs 107. 9 (7.06 per cent YTM) and touched an intra-day high of Rs 108.35 (7.00 per cent YTM). It closed at Rs 108 (7.05 per cent YTM), as against the previous close of Rs 107.9 (7.06 per cent Y TM). The 7.95 per cent-24 year-2032 paper opened at Rs 103.05 (7.66 per cent YTM) and closed at Rs 103.65 (7.61 per cent YTM). - Our Bureau

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