Bonds drop further, call rate recovers

Government bonds prices continued to rule weak on sustained selling from banks and corporates, while the overnight call money rates recovered on fresh demand from borrowing banks.

The 8.83 per cent government security maturing in 2023 fell to Rs 100.34 from Rs 100.5050 previously, while its yield moved-up to 8.77 per cent from 8.75 per cent.

The 8.28 per cent government security maturing in 2027 declined to Rs 93.15 from Rs 93.38, while its yield gained to 9.17 per cent from 9.14 per cent.

The 7.28 per cent government security maturing in 2019 also dipped to Rs 93.3250 from Rs 93.42, while its yield climbed to 8.87 per cent from 8.85 per cent.

The 8.12 per cent government security maturing in 2020, the 8.24 per cent government security maturing in 2027 and the 7.16 per cent government security maturing in 2023 were also quoted low at Rs 95.40, Rs 92.95 and Rs 87.85, respectively.

The overnight call money rate ended higher at 8.00 percent from 7.50 per cent yesterday. It moved in a range of 8.35 per cent and 7.80 per cent.

The Reserve Bank of India (RBI) under the Liquidity Adjustment Facility (LAF) purchased securities worth Rs 303.15 billion in 51-bids at the 1-day repo auction at a fixed rate of 8.00 per cent, while sold securities worth Rs 8.37 billion from 7-bids at the 1-day reverse repo auction at a fixed rate of 7.00 per cent.

Economics Times
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