Mumbai, May 30
The bond market was dull with prices falling about 5 paise since Monday's close. While the negatives continued to be fears of a likely hike in domestic fuel prices and the auction scheduled for early next week, the positive factor continued to be good liquidity. "Though buyers were coming in at every 50 paise rise, there was no genuine trading," said a dealer with a private bank. The 7.59 per cent 2016 10-year benchmark paper opened at Rs 99.56 (7.65 per cent YTM) and closed at Rs 99.53 (7.66 per cent YTM) against the previous close of Rs 99.59 (7.65 per cent). The 7.94 per cent 2021 15-year paper opened and closed at Rs 99.60 (7.99 per cent ) against the previous close of Rs 99.65 (7.98 per cent ). "The yield of 7.66 per cent for the 10-year paper is a good buy level for those banks who want to fill their Held to Maturity portfolio and for long-term players like pension funds," the dealer said.