1. Bonds surge, call rates finish lower

Bonds surge, call rates finish lower

Government bonds (G-Secs) surged on sustained buying support from banks and corporates.

By: | Mumbai | Published: June 8, 2017 6:40 PM
Government bonds, Bonds surge, Liquidity Adjustment Facility, banking system, government security, Reserve Bank of India,  The 6.79 per cent government security maturing in 2029 advanced to Rs 101.03 from Rs 100.54 previously, while its yield moved down to 6.67 per cent from 6.73 per cent.(Representative image Reuters)

Government bonds (G-Secs) surged on sustained buying support from banks and corporates. While, the overnight call money rates finished lower at the money market due to lack of demand from borrowing banks amid ample liquidity in the banking system. The 6.79 per cent government security maturing in 2029 advanced to Rs 101.03 from Rs 100.54 previously, while its yield moved down to 6.67 per cent from 6.73 per cent. The 6.79 per cent government security maturing in 2027 firmed up to Rs 101.86 from Rs 101.6425, while its yield edged down to 6.53 per cent from 6.56 per cent.

The 6.97 per cent government security maturing in 2026 rose to Rs 102.33 from Rs 102.07, while its yield softened to 6.63 per cent from 6.66 per cent. The 7.61 per cent government security maturing in 2030, the 7.59 per cent government security maturing 2026 and the 7.72 per cent government security maturing in 2025 were also quoted higher at Rs 106.1850, Rs 105.2625 and Rs 105.22 respectively. The overnight call money rates ended lower to 6.25 per cent from its Wednesday’s level of 6.30 per cent. Its resumed stable at 6.30 per cent and moving in a range of 6.30 per cent and 6.15 per cent.

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Meanwhile, Reserve Bank of India, under the Liquidity Adjustment Facility, purchased securities worth Rs 23.40 billion in 5-bids at the overnight repo operations at a fixed rate of 6.25 per cent as on today, while its sold securities worth Rs 30.52 billion in 24-bids at the overnight reverse repo auction at a fixed rate of 6.00 per cent as on June 07.

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