1. Market Review: Bonds recover, call rates turn higher

Market Review: Bonds recover, call rates turn higher

Government bonds (G-Secs) recovered following fresh demand from corporates and banks, and the overnight call money rates also turned higher due to good demand from borrowing banks amid tight liquidity in the banking system.

By: | Mumbai | Published: February 15, 2017 9:19 PM

 

The overnight call money rates finished higher at 6.20 per cent from Tuesday's level of 6.10 per cent. It resumed steady to 6.10 per cent and moved in a range of 6.25 per cent and 6.10 per cent. (Reuters) The overnight call money rates finished higher at 6.20 per cent from Tuesday’s level of 6.10 per cent. It resumed steady to 6.10 per cent and moved in a range of 6.25 per cent and 6.10 per cent. (Reuters)

Government bonds (G-Secs) recovered following fresh demand from corporates and banks, and the overnight call money rates also turned higher due to good demand from borrowing banks amid tight liquidity in the banking system. The 6.97 per cent 10-year benchmark bond maturing in 2026 rose to Rs 100.7425 from Rs 100.6525, while its yield inched down to 6.86 per cent from 6.87 per cent. The 7.59 per cent government security maturing in 2026 gained to Rs 103.7350 from Rs 103.65, while its yield softened to 7.02 per cent from 7.03 per cent. The 7.61 per cent government security maturing in 2030 climbed to Rs 102.85 from Rs 102.82, while its yield ruled steady to 7.27 per cent. The 7.68 per cent government security maturing in 2023, the 6.79 per cent government security maturing in 2029 and the 6.35 per cent government security maturing in 2020 were also quoted higher to Rs 103.59, Rs 97.20 and Rs 99.3650 respectively.

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The overnight call money rates finished higher at 6.20 per cent from Tuesday’s level of 6.10 per cent. It resumed steady to 6.10 per cent and moved in a range of 6.25 per cent and 6.10 per cent.

Meanwhile, Reserve Bank of India, under the Liquidity Adjustment Facility, purchased securities worth Rs 18.75 billion in 6-bids at the overnight repo auction at a fixed rate of 6.25 per cent today morning, while it sold securities worth Rs 38.90 billion in 28-bids at the overnight reverse repo auction at a fixed rate of 5.75 per cent as on February 14.

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