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Our Bureau

Mumbai, May 24

Bond prices slipped by around 10 paise in anticipation of the Rs 8,000-crore government securities auction on Friday. Total traded volumes on the order-matching system were at Rs 1,150 crore (Rs 2,090 crore). "Volumes were thin and there was not much of trading interest. Banks were cutting positions ahead of the auction on Friday," said a dealer at a private bank.

Traders said rumours of a hike in cash reserve ratio continued to do the rounds. "There continues to be speculation about what measures the RBI will use to drain out the excess liquidity created by Rs 21,000-crore worth of bond redemptions on Monday," said a trader. The 8.07 per cent-10 year-2017 paper opened at Rs 99.43 (8.15 per cent YTM) and closed at Rs 99.45 (8.15 per cent YTM), against Wednesday's close of Rs 99.54 (8.14 per cent YTM). The 7.49 per cent-10 year-2017 paper, which is currently most active, opened at Rs 95.40 (8.17 per cent YTM) and closed at Rs 95.35 (8.18 per cent YTM), against the previous close of Rs 95.40 (8.17 per cent YTM).

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