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 Money & Banking - Govt Bonds
Bond markets rally

Mumbai, April 21

The bond markets saw huge volumes on Tuesday, buoyed by the cut in the repo and the reverse repo rates by 25 basis points. The total traded volumes on the order matching system stood at Rs 27,225 crore. Since the markets were divided over the possibility of a rate cut, there were cautious about building their portfolios before the announcement, said a dealer with a private bank. But once the cut in policy rates was announced, the markets went on a buying spree. The markets saw a huge rally with the price of the 10 year paper closing higher by Rs 1.5, added the dealer. The 6.05 per cent-10-year-2019 paper opened at Rs 97.8 (6.35 per cent YTM) and rose to touch an intra-day high of Rs 99.42 (6.12 per cent YTM). It closed at Rs 99.07 (6.17 per cent YTM), against the previous close of Rs 97.56. The second most highly traded paper, 7.56 per cent-2014 paper opened at Rs 106.92 (6.06 per cent) and closed at Rs 107.33 (5.98 per cent YTM).

— Our Bureau

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