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Mumbai, Sept. 11

Bond prices were down by about 20 paise on Tuesday due to a correction. The market was technically overboard and there is scope for prices to fall by a further 20 paise, said dealers. "There is not much to affect the market right now as there are no auctions scheduled this week. The only thing to watch out for is whether the US Federal Reserve will cut interest rates in its meeting on September 18," said a bond dealer with a private bank. Total traded volumes on the Negotiated Dealing System were Rs 2,700 crore. The 7.49 per cent 10-year 2017 benchmark paper opened at Rs 97.52 (7.86 per cent YTM) and ended at Rs 97.27 (7.90 per cent YTM) against the previous close of Rs 97.51 (7.86 per cent YTM). The 7.99 per cent 10-year 2017 paper opened at Rs 101 (7.84 per cent YTM) and ended at Rs 100.79 (7.87 per cent YTM) against the previous close of Rs 101.04 (7.83 per cent YTM). - Our Bureau

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