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Mumbai, July 30

Bond prices gained on Wednesday, after Tuesday’s sharp fall, due to value-buying, low oil prices and slight easing in liquidity conditions. The market has also factored in inflation at 12 per cent, said a dealer. The outlook does not seem very bright and yields on Government securities are likely to move closer to 10 per cent, given the high inflation, said a bond dealer with public sector bank. “When the fresh supply of Government papers comes in, yields will rise. When the Government implements the Pay Commission measures and the debt relief package, it will have to raise more funds,” he said. Total traded volumes on the order matching system were at Rs 4,000 crore. The 8.24 per cent-10 year-2018 opened at Rs 93 (9.35 per cent YTM) and closed at Rs 93.14 (9.32 per cent YTM) against the previous close of Rs 92.67 per cent (9.40 per cent YTM). The 8.33 per cent 2036 28-year paper opened at Rs 86 (9.80 per cent YTM) and closed at Rs 86.31 (9.76 per cent YTM).

— Our Bureau

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