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Bonds surge on persistent demand, call rate ends lower

Jan 03 2013, 19:21 IST
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SummaryThe Government securities (G-Sec) surged on persistent demand from banks and corporates.

The Government securities (G-Sec) surged on persistent demand from banks and corporates, while the call money rates reacted downwards at the overnight call money market here today owing to lack of demand from borrowing banks amidst ample liquidity in banking system.

The 8.15 per cent G-Sec maturing in 2022 firmed up to Rs 101.19 from yesterday's level of Rs 101.0150, while its yield declined to 7.97 per cent from 7.99 per cent.

The 8.33 per cent G-Sec maturing in 2026 hardened to Rs 102.30 from Rs 101.9650, while its yield dropped to 8.05 per cent from 8.09 per cent.

The 8.20 per cent G-Sec maturing in 2025 also gained to Rs 101.2950 from Rs 100.9950, while its yield moved down to 8.03 per cent from 8.07 per cent.

The 8.07 per cent G-Sec maturing in 2017-Jul, the 8.97 per cent maturing in 2030 and the 8.19 per cent maturing in 2020 were also quoted higher at Rs 100.6600, Rs 107.8100 and Rs 100.9275 respectively.

The Overnight call money rate finished marginally lower at 7.98 per cent from Wednesday's close of 8.00 per cent. It moved in a range of 8.15 per cent and 7.50 per cent.

The Reserve Bank of India (RBI) under the Liquidity Adjustment Facility (LAF) purchased securities worth Rs 972.65 billion in 31 bids at the one-day repo auction at a fixed rate of 8.00 per cent, while sold securities worth Rs 24.05 billion in three-bids at the 1-day reverse repo auction at a fixed rate of 7 per cent in the evening auction.

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