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MUMBAI: In the Government securities market, the auction results were as per expectations with the yield of the 12-year paper at 5.59 per cent.

The bond market remained weak with a little buying interest. The 8.07-per cent 2017 paper opened at Rs 121.20 and closed at Rs 121.40 with YTM 5.67 per cent. The 7.37-per cent 2014 paper showed a mere 2 to 3 paise movement with yield being 5.29 per cent.

The market is waiting for the inflation figures to be announced on Friday to form an idea of the expected direction of the interest rates. A major primary dealer is said to have tried to drag up the market but couldn't hold the prices there, said a dealer.

The call rates were low at 3.5-4 per cent. In the LAF window, the RBI accepted 31 bids to the tune of Rs 9,815 crore at the repo rate of 4.5 per cent.

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