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Our Bureau

Mumbai, Oct 31

Bond prices dropped around nine paise, reacting to the Reserve Bank of India's mid-term credit policy. Total traded volume on the order matching system was Rs 3,610 crore (Rs 1,950 crore).

"The RBI has increased the repo rates and the market expects it to increase the reverse repo rates in the near future," said a dealer at a private bank.

The prices also fell on low liquidity in the system. The 7.59 per cent 10-year 2016 paper opened at Rs 99.86 (7.61 per cent YTM) and closed at Rs 99.75 (7.63 per cent YTM) against Rs 99.84 (7.61 per cent YTM) on Monday. The 8.07 per cent 11-year 2017 paper opened at Rs 102.96 (7.64 per cent YTM) and closed at Rs 102.87 (7.66 per cent YTM) against Rs 102.96 (7.64 per cent YTM).

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