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Monday, March 16, 2015

Evening Bells: Bond yield rises by 01 bp

10-year G-sec Paper yield closes at 7.81% 

The yield on 10-year benchmark federal paper, 8.40% GS 2024, increased by 08 basis points to close at 7.81% compared with 7.80% close in the previous trading session. The total trading volume on central bank's gilts trading platform stood Rs 19,435 crore. 

Bond yield increased as traders squared off positions ahead of fiscal year end and on expectations of fewer rate cuts. Moreover, there are also concerns in the market over a possibly hawkish policy language being used by the Fed in its next meeting. 

The weighted average rate in the overnight call money eased to 7.61% compared with 7.56% in previous session. The call money rate hovered in the range of 6.00% to 8.10% with the volume of Rs 11,663.43 crore. 
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