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Tuesday, September 23, 2014

Bond yields rises by 03 bps

10-year G-sec Paper yield closes at 8.47% 

The yield on 10-year benchmark federal paper, 8.40% GS 2024, increased by 03 basis points to close at 8.47% compared to 8.44% at close in the previous trading session. The total trading volume on central bank's gilts trading platform stood Rs 25,355 crore. 

Bond yield increased on profit booking ahead of government's announcement of its borrowing plan for second half of FY2015 scheduled to be released by end September 2014. 

The weighted average rate in the overnight call money rose to 7.93% compared to 7.78% in previous session. The call money rate hovered in the range of 7.50% to 8.10% with the volume of Rs 14,604.45 crore. 

The State Development Loan auction worth Rs 8,300 crore held today was fully subscribed. The cut-off yield for the 5-year auction for state of Punjab was set at 8.99%. The cut-off yields for the 10-year auctions were set at 8.89% for Mizoram & Puducherry, 8.90% for Haryana, Maharashtra, Rajasthan & Tamil Nadu, 8.94% for Gujarat, 8.95% for Madhya Pradesh, 8.96% for Andhra Pradesh, and 8.99% for West Bengal. 

The Overnight Variable Rate Reverse Repo auction held today saw allotment of Rs 1,804 crore, against the notified amount of Rs 10,000 crore. The total offers received amounted to Rs 1,804 crore. The cut off rate was set at 7.99%, while the weighted average rate was also at 7.98%. 

The 14-day Term Repo auction held today saw allotment of Rs 15,503 crore, against the notified amount of Rs 15,500 crore. The total bids received amounted to Rs 22,530 crore. The cut off rate was set at 8.09%, while the weighted average rate was also at 8.13%.
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