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Mumbai, Jan 8

Bond prices fell slightly as traders were booking profits after the rally in the past two days. Total traded volumes on the order-matching system were at Rs 10,915 crore (Rs 11,955 crore). Dealers said that a statement made by Mr M. S. Srinivasan, official from the Ministry of Petroleum and Natural Gas, about a marginal hike in fuel prices being unavoidable led to a bout of selling in the market.

“Banks were also booking profits ahead of the auction on Friday. But the sentiment is positive as the US Fed is expected to cut interest rates and the Finance Minister has also requested banks to reduce loan rates,” said a dealer at a private bank.

The 8.33 per cent-28 year-2036 paper opened at Rs 103.45 (8.02 per cent YTM) and closed at Rs 103.45 (8.02 per cent YTM) against the previous close at Rs 103.48 (8.02 per cent YTM). The 7.99 per cent- 10 year-2017 paper opened at Rs 102.23 (7.65 per cent YTM) and closed at Rs 102.08 (7.68 per cent YTM). –

Our Bureau

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