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Mumbai, Sept. 2

Bond prices rose sharply during the day as they reacted to the easing price of global crude. Total traded volumes on the order matching system were at Rs 9,775 crore (Rs 6,290 crore).

Dealers said that prices opened higher and rose by around 50-60 paise during the day, but profit- booking trimmed the gains of the day. “Profit-booking was bound to happen after the prolonged rally in the last few days. Also, traders wanted to lighten their positions ahead of the public holiday on Wednesday,” said a dealer at a private bank. Market participants are, however, optimistic about inflation easing following the drop in crude prices. Liquidity is also expected to be comfortable as bond redemptions of Rs 5,500 crore on August 8 will be balanced off by a government security auction of Rs 6,000 crore next week.

The 8.24 per cent-10 year-2018 paper opened at Rs 97.90 (8.56 per cent YTM) and rose to an intra day high of Rs 98.15 (8.52 per cent YTM). It ended the day at Rs 97.61 (8.61 per cent YTM), against the previous close at Rs 97.54 (8.61 per cent YTM). The 8.24 per cent-19 year-2027 paper opened at Rs 89.90 (9.40 per cent YTM) and closed at Rs 90.20 (9.36 per cent YTM), against the previous close at Rs 89.25 (9.48 per cent YTM). –

Our Bureau

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