The Hindu Business Line : Bond prices gain

Bond prices gained by 52 paise on reports that the Reserve Bank of India Governor met the Prime Minister, dealers said. Prices rose in anticipation that the rate cut announcement would be made soon, said a dealer with a private bank. The volumes were low as the number of participants was less, he added. In the overnight index swaps market, there was receiving interest among the players, said another dealer. Total traded volumes on the order matching system were higher at Rs 12,375 crore (Rs 11,570 crore). The 8.24 per cent-10 year-2018 paper opened at Rs 118.70 (5.63 per cent YTM) and touched an intra-day high of 119.44 (5.53 YTM). It closed at 119.35 (5.54 per cent YTM), against the previous close of Rs 118.83 (5.61 per cent YTM). The 7.56 per cent-6 year-2014 paper opened at Rs 108.75 (5.77 per cent YTM) and closed at Rs 109.43 (5.64 per cent YTM). —

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