Mumbai, Nov. 9
THE auctions of the 7.49 per cent-Government Stock 2017 and the 7.40 per cent-Government Stock 2035 were oversubscribed.
Dealers said that the lower cut-off prices of the papers conveyed a bearish sentiment.
For the 7.49 per cent paper, the notified amount was Rs 5,000 crore. The Reserve Bank of India received 187 competitive bids amounting to Rs 8,889 crore. The cut-off price was Rs 101.25 (7.32 per cent YTM). RBI accepted 115 bids, amounting to Rs 4,942.06 crore.
For the 7.40 per cent paper, the notified amount was Rs 3,000 crore.
RBI received 151 competitive bids amounting to Rs 6,349 crore.
The cut-off price was Rs 96.18 (7.73 per cent YTM).