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Mumbai, Jan 16

Bond prices fell by around 20 paise as the increase in liquidity has raised fears of more Market Stabilisation Scheme (MSS) auctions. Total traded volumes on the order-matching system were at Rs 7,350 crore. The surplus of Rs 28,550 crore in the system pushed traders to sell in the market. “Market participants are anxious about more MSS auction announcements as well as a possible hike by the RBI in the Cash Reserve Ratio,” said a dealer at a private bank.

The RBI auctioned Rs 6,500 crore worth of treasury bills on Wednesday and a dated security will be auctioned for Rs 4,000 crore on Thursday. The 7.99 per cent-9-year-2017 paper opened at Rs 103.05 (7.53 per cent YTM) and ended at Rs 102.89 (7.56 per cent YTM), against the previous close at Rs 103.05 (7.54 per cent YTM). The 8.33 per cent-28 year-2036 paper opened at Rs105.75 (7.82 per cent YTM) and ended at Rs 105.30 (7.86 per cent YTM), unchanged from the previous close. –

Our Bureau

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