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Mumbai, June 24

The bond market saw some recovery due to short covering, but the sentiment continued to be bearish. The bond yields moved up because of statements which seemed to indicate that the central bank will take measured steps to tame inflation, said bond dealers. A dealer with a private bank said, “Today there was some buying interest in the market, but the sentiment continues to be bearish. Traders are looking to sell stocks as they are unsure of the interest rates.” Total volumes on the order matching system were at Rs 3,035 crore (Rs 1,835 crore). The 8.24 per cent-10 year-2018 benchmark paper opened at Rs 97.54 (8.61 per cent YTM) and closed at Rs 97.85 (8.56 per cent YTM), against the previous close of Rs 97.35 (8.64 per cent YTM). The 8.24 per cent-19 year-2027 paper opened at Rs 90.15 (90.36 per cent YTM) and closed at Rs 90.74 (9.29 per cent YTM), against the previous close of Rs 89.90 (8.39 per cent YTM).

— Our Bureau

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