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Mumbai, Jan. 6

Bond prices fell in a volatile market on Tuesday as banks sold to take advantage of the low yields, said dealers. Prices opened lower and moved downwards during the day. The total traded volumes on the order matching system were lower at Rs 15,860 crore (Rs 13,680 crore).

The 2018 benchmark security opened at Rs 122 (5.22 per cent YTM) and closed at the days’ low of Rs 121.3 (5.30 per cent YTM), against the previous close of Rs 123.25 (5.07 per cent YTM). The 7.95 per cent 23-year 2032 paper opened at Rs 121.4 (6.21 per cent YTM) and closed at Rs 118.4 (6.42 per cent YTM).

The market is now awaiting news about a cut in fuel prices, said a bond dealer with a private bank. If it does not come through, there could be pressure on bond prices again, he said. –

Our Bureau

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