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Bonds, call rates drop

Government bonds (G-Secs) dropped on sustained selling press..

Government bonds (G-Secs) dropped on sustained selling pressure from banks and corporates and the overnight call money rates also turned lower due to lack of demand from borrowing banks amid comfortable liquidity in the banking sytem.

The 7.17 per cent 10-year benchmark bond maturing in 2028 went-down to Rs 95.0975 from Rs 95.60, while its yield moved up to 7.90 per cent from 7.83 per cent.

The 6.68 per cent government security maturing in 2031 fell to Rs 88.38 from Rs 88.90, while its yield edged up to 8.12 per cent from 8.05 per cent.

The 6.84 per cent government security maturing in 2022 weakened to Rs 95.95 from Rs 96.05, while its yield up to 7.91 per cent from 7.88 per cent.

The 6.79 per cent government security maturing in 2027, the 8.20 per cent government security maturing in 2022 and the 8.15 per cent government security maturing in 2022 were also quoted lower to Rs 92.40, Rs 100.9975 and Rs 100.81 respectively.

The overnight call money rates finished lower to 5.80 per cent from Monday's closing level of 6.05 per cent. It resumed steady at 6.05 per cent and moved in a range of 6.05 per cent and 5.60 per cent.

Meanwhile, Reserve Bank of India, under the Liquidity Adjustment Facility, purchased securities worth Rs 53.83 billion in 7-bids at the overnight repo auction at a fixed rate of 6.00 per cent today morning, while it sold securities worth Rs 118.61 billion in 43-bids at the overnight reverse repo auction at a fixed rate of 5.75 per cent as on May 14.

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