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Tuesday, November 25, 2014

Bond yield closes steady

10-year G-sec Paper yield closes at 8.16% 

The yield on 10-year benchmark federal paper, 8.40% GS 2024, closed steady at 8.16% same as close in the previous trading session. The total trading volume on central bank's gilts trading platform stood Rs 43,330 crore. 

Bond yield closed steady, after moving in a tight 8.14%-8.16% as the sentiment remained positive on hopes India's central bank would cut interest rates. 

The weighted average rate in the overnight call money closed eased to 7.86% compared to 8.01% in previous session. The call money rate hovered in the range of 6.30% to 8.30% with the volume of Rs 10,770.10 crore. 

The State Development Loan auction worth Rs 15,150 crore held today was fully subscribed. 

The state of Tamil Nadu retained additional subscription worth Rs 375 cr. The cut-off yields for the 10-year securities were set at 8.43% for Gujarat, Haryana, & Rajasthan, 8.44% for Kerala, Maharashtra, & Tamil Nadu, 8.45% for Bihar, Himachal Pradesh, Karnataka, Madhya Pradesh, Uttar Pradesh, & West Bengal, and 8.46% for Andhra Pradesh & Nagaland. The cut-off yield for 5-year security auction of the state of Punjab was set at 8.45%. 
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