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Bonds drop, call rates end higher

Government bonds (G-Secs) dropped on selling pressure from b..

Government bonds (G-Secs) dropped on selling pressure from banks and corporates, while the overnight call money rates ended higher due to good demand from borrowing banks amidst tight liquidity in the banking sytem.

The 7.17 per cent 10-year benchmark bond maturing in 2028 dipped to Rs 96.8625 from Rs 97.49 previously, while its yield moved up to 7.63 per cent from 7.54 per cent.

The 6.68 per cent government security maturing in 2031 went-down to Rs 90.17 from Rs 90.95, while its yield gained to 7.88 per cent from 7.78 per cent.

The 6.79 per cent government security maturing in 2027 slid to Rs 93.2950 from Rs 94.1375, while its yield rose to 7.84 per cent from 7.70 per cent.

The 8.15 per cent government security maturing in 2022 and the 7.16 per cent government security maturing in 2023 were also quoted lower to Rs 101.99 and Rs 98.30 respectively.

The overnight call money rates finished higher to 5.95 per cent from Wednesday's closing level of 5.90 per cent. Its resumed higher to 6.00 per cent and moved in a range of 6.10 per cent and 5.75 per cent.

Meanwhile, Reserve Bank of India, under the Liquidity Adjustment Facility, purchased securities worth Rs 103.35 billion in 8-bids at the overnight repo operations at a fixed rate of 6.00 per cent as on today, while its sold securities worth Rs 54.97 billion in 36-bids at the overnight reverse repo auction at a fixed rate of 5.75 per cent as on April 18.

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