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Saturday, Oct 08, 2005

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Bond market bearish ahead of Credit Policy

Our Bureau

MUMBAI: In the Government securities market, prices fell by about 18 paise on Friday in anticipation of a hike in interest rates in the review of credit policy this month.

Dealers said that a rise in the domestic inflation sparked by higher fuel prices was also a concern.

The 7.37-9 year-2014 paper opened at Rs 102.28 (7.01 per cent YTM) and closed at Rs 102.10 (7.04 per cent YTM), down from Thursday's Rs102.26 (7.01 per cent YTM). The 102.25-16 year-2021 paper opened at Rs125.30 (7.477 per cent YTM) and closed at Rs 125.21 (7.48 per cent YTM), lower than Thursday's close at Rs 125.43 (7.46 per cent YTM). The 7.38-10 year-2010 paper was dealt at 7.11 per cent YTM.

The call rate closed at 5-5.05 per cent. (5.05-5.10). In the three-day reverse repo auction, the RBI received and accepted 30 bids amounting to Rs 21,510 crore. In the CBLO market, there were 275 trades for Rs 13,463.55 crore in the rate range of 4.90-5.17 per cent.

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