Wednesday, October 15, 2008

Bond Prices Decline By Declare - Oct 15, 2008

Bond prices declined by Re 1 on fears that the RBI will declare an SLR cut, as this would decrease demand for the Government securities. Another factor was the view that with the stock markets staging a recovery, the RBI unlikely to cut rates aggressively. Total traded volumes on the order matching system were lower at Rs 3,405 crore.

The 8.24 per cent-10 year-2018 paper opened at Rs 102.7 and reached an intra-day low of Rs 101.76 . It closed at Rs 101.95, against the previous close of Rs 102.93. The second highly traded security, 7.94 per cent-13 year-2021 paper, opened at Rs 97.6 and closed at Rs 96.5.

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