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Our Bureau

Mumbai, June 16

In the bond market, prices fell in reaction to the higher than expected domestic inflation data. Inflation rose to 4.72 per cent during the week ended June 3, from the previous week's 4.68 per cent. Dealers said that the outlook for the bond market continued to be bearish ahead of the Rs 5,000-crore g-sec auction next week. "The market is awaiting the cut-off price as well the tenure of the papers that are to be auctioned. In the lead up to the auction, the ten year yields could harden to 7.85-7.9 per cent," said a dealer at a private bank. The 9.39 per cent-5 year-2011 benchmark paper opened at Rs 108.13 (7.42 per cent YTM) and closed at Rs 108.07 (7.44 per cent YTM), lower than Thursday's Rs 108.14. The 7.59 per cent-10 year-2016 benchmark paper opened at Rs 98.61 (7.79 per cent YTM) and ended at Rs 98.56 (7.80 per cent YTM), down from Thursday's close at Rs 98.7 (7.78 per cent).

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