The Hindu Business Line : Bond prices range-bound

Bond prices were range-bound and volumes were lower as market participants were wary of taking fresh positions, said bond dealers. Although the market was jittery, the undertone was bullish, said a bond dealer with a private bank. Total traded volumes on the order matching system were much lower at Rs 11,550 crore (Rs 27,485 crore). "There was not much activity as most participants are trimming their positions. The rally in prices was concentrated in the 10-year benchmark security. If probably the liquidity scenario improves, there could be fresh buying," the dealer said. The market is waiting for announcements of a second stimulus package and a fresh rate cut, he added. The 8.24 per cent-10 year-2018 paper opened at Rs 119.95 (5.48 per cent YTM) and closed at Rs 119.3 (5.56 per cent YTM), lower from the previous close of Rs 119.83 (5.49 per cent YTM). It touched a high of Rs 120.6 (5.4 per cent YTM) during the day. The 7.95 per cent-24 year-2032 paper opened at Rs 118.19 (6.44 per cent YTM) and closed at Rs 116.45 (6.57 per cent YTM), lower from the previous close of Rs 116.9 (6.54 per cent YTM). It touched a low of Rs 115.85 (6.61 per cent YTM) during the day. - Our Bureau

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