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Mumbai, June 14

Bond prices gained by around eight paise taking a cue from the fall in the US yields. Dealers said some `bargain buying' drove prices slightly up. US yields had rallied by three basis points to 4.96 per cent on Tuesday, they said. "Despite prices inching up, concerns about another interest rate hike in July remain. The ten-year yields are likely to be in the range of 7.78 and 7.83 per cent in the next two weeks," said a dealer at a private bank. The 9.39 per cent-5 year-2011 paper opened at Rs 108.11 (7.43 per cent YTM) and closed at Rs 108.19 (7.41 per cent YTM), higher than Tuesday's Rs 108.1 (7.43 per cent). The 7.59 per cent-10 year-2016 paper opened at Rs 98.51 (7.81 per cent YTM) and ended at Rs 98.65 (7.79 per cent YTM), up from Tuesday's close at Rs 98.49 (7.81 per cent YTM).

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