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Mumbai, Feb. 5

Bond prices of long dated securities gained by over 40 paise on expectations of good demand for papers in this segment in the Rs 9,000 crore auction on Friday. Total traded volumes on the order matching system were Rs 3,195 crore (Rs 3,570 crore).

Dealers said prices initially fell in anticipation of the auction, with the 10-year paper dipping by around 15 paise. But expectations of Provident Funds and insurance companies picking up the 8.33 per cent-29 year-2036 paper in the Friday auction, led to a sharp rally in this security. Market participants are relieved that February will see only one auction. "Bond prices are likely to be range-bound this week as traders will be cautious ahead of the auction. The rally that occurred in the long-dated securities may not continue," said a dealer at a private bank.

The 8.33 per cent-29 year-2036 paper opened at Rs 103.45 (8.02 per cent YTM) and closed at Rs 103.90 (7.98 per cent YTM), against Friday's Rs 103.44 (8.02 per cent YTM). The 8.07 per cent-10 year-2017 paper opened at Rs 102.43 (7.71 per cent YTM) and closed at Rs 102.43 (7.71 per cent YTM), against the previous close at Rs 102.60 (7.69 per cent YTM).

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