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Monday, March 24, 2014

Bond yield eases by 02 bps

10-year G-sec Paper yield closes at 8.78% 

The yield on 10-year benchmark federal paper, 8.83% GS 2023, decreased 02 basis points to end at 8.78% compared to 8.80% at close in the previous trading session. The total trading volume on central bank's gilts trading platform stood at Rs 10710 crore. 

Bond yield eased tracking rupee appreciation and gains in stock market. However, the sentiments remained cautious as the traders are awaiting the details of government market borrowing for first half of next fiscal. 

The weighted average rate in the overnight call money increased to 8.97% compared to 6.66% in the previous session. The call money rate hovered in the range of 8.60% to 9.05% with the volume of Rs 21205.42 crore. 

At the repurchase auction held today, bids worth Rs 5,000 crore were accepted only under one out of the seven securities offered. The repurchase auction of 7.32% GOI 2014 saw a cut-off price of Rs 99.97 and a weighted average price of Rs 99.94.
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