Markets

Bonds weaken, call rates rule steady

Government bonds (G-Secs) weakened further on heavy selling pressure from banks and corporates, while, Interbank call money rates ruled steady as demand from borrowing banks match supplies.

The 7.17 per cent 10-year benchmark bond maturing in 2028 slid to Rs 95.32 from Rs 95.46, while its yield edged up to 7.87 per cent from 7.85 per cent.

The 6.68 per cent government security maturing in 2031 dropped to Rs 88.65 from Rs 88.7525, while its yield moved up to 8.09 per cent from 8.07 per cent.

The 6.84 per cent government security maturing in 2022 fell to Rs 96.07 from Rs 96.2950, while its yield gained to 7.88 per cent from 7.82 per cent.

The 7.59 per cent government security maturing in 2026, the 7.61 per cent government security maturing in 2030 and the 7.16 per cent government security maturing in 2023 were also quoted lower to Rs 97.17, Rs 96.23 and Rs 96.80 respectively.

The overnight call money rates held stable at its yesterday's closing level of 5.80 per cent, It resumed higher at 6.10 per cent and moved in a range of 6.10 per cent and 5.70 per cent.

Meanwhile, Reserve Bank of India, under the Liquidity Adjustment Facility, purchased securities worth Rs 49.43 billion in 6-bids at the overnight repo operation at a fixed rate of 6.00 per cent as on today, while it sold securities worth Rs 117.05 billion in 39-bids at the overnight reverse repo auction at a fixed rate of 5.75 per cent as on May 23.

Original Article

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