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Mumbai, July 27

Bond prices fell by around 25 paise as dealers were cutting their positions ahead of the review of the Monetary Policy on Tuesday next. Total traded volumes on the order matching system were around Rs 4,095 crore (Rs 5,010 crore). Dealers said that speculation had begun on possible RBI measures in the policy review. “The RBI may lift the Rs 3,000 crore limit under the reverse repo auction. This will push up overnight call rates to 6 per cent and lead to an overall ha rdening in bond yields,” said a dealer at a private bank. Market participants are also speculating on a possible hike in the Cash Reserve Ratio. The 7.49 per cent-10 year-2017 paper opened at Rs 98.20 (7.75 per cent YTM) and closed at Rs 97.67 (7.83 per cent YTM), against the previous close of Rs 97.92 (7.8 per cent YTM). The 6.65 per cent-2 year-2009 paper opened at Rs 99.36 (7.06 per cent YTM) and closed at Rs 99.17 (7.17 per cent YTM), against Thursday’s close of Rs 99.37 (7.04 per cent YTM). —

Our Bureau

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