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Mumbai, Dec 31

Bond prices lost most of intra-day gains, closing up by 17 paise. In the first half of trade, the markets rallied on expectation of a rate cut announcement, said a dealer with a private bank. However, a Finance Ministry official’s comment that there may not be large cuts in the repo and reverse repo rates dampened market sentiments, he added.The markets were expecting the RBI to cut rates by at least 50 basis points. Total traded volumes on the order matching system were higher at Rs 10,040 crore (Rs 15,960 crore). The 8.24 per cent-10 year-2018 paper opened at Rs 121.8 (5.24 per cent YTM) and touched an intra-day high of Rs 122.33 (5.18 YTM). It closed at Rs 121.79 (5.24 per cent YTM), against the previous close of Rs 121.62 (5.27 per cent YTM). The 7.95 per cent-24 year-2032 paper opened at Rs 121.25 (6.22 per cent YTM) and closed at Rs 119.9 (6.31 per cent YTM). —

Our Bureau

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