The benchmark ten year 7.38% 2015 stock ended the day at a price of Rs 103.70 and its yield stood at 6.867% as against Tuesdays yield of 6.90%.
The actively traded 8.07% bond opened the day at a price of Rs 108, with the yield at 6.936%. It then moved up to an intra-day peak of Rs 109.22, at which point the yield fell to 6.898. The stock closed the day at a price of Rs 109, while the yield at the end of the day was 6.924% compared to Tuesdays close of 6.9568%. The 91-day treasury bill closed the day at Rs 98.69, while its yield ended at 6.36%, a level anticipated by the market. The 182-day treasury bill yield stood at 5.67%, while its price was Rs 97.35.
The Indian currency opened the day at 43.54/55 levels, rose to 43.5750 and closed the day at 43.5650/5750.
There was considerable demand in the market on the back of oil prices, the nearing of month-end and the dollar appreciating against other currencies. Against the single European unit, the Indian currency opened higher at Rs 52.51/53 per euro, but later declined marginally and closed at Rs 52.52/54, still firmer than the previous close of Rs. 52.72/74.
The rupee also firmed up against the Japanese yen at Rs 39.47/49 per 100 yen from Tuesdays close of Rs 39.65/67.
The Reserve Bank of India (RBI) fixed the reference rate for the dollar at Rs 43.5500 per dollar as against the previous level of Rs 43.5600.
The Reserve Bank of India (RBI) accepted 13 bids for Rs 5,760 crore at the one day reverse repo auction on Monday at a fixed rate of 5%, under the liquidity adjustment facility (LAF).
The overnight call money market closed slightly lower at 5.5/5.75 levels as against Tuesdays close of 5.80-6.00 levels. Since a lot of bankers availed of export refinance, there was lesser demand in the market on Wednesday.
In the forex segment, which was extremely steady on Wednesday, the six month premium ended the day slightly lower at 1.43% as against Tuesdays 1.44%. The 12-month premium closed the day unchanged at 1.30%.