Home Market Bonds surge, call rates finish higher

Bonds surge, call rates finish higher

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Government bonds (G-Secs) surged following sustained demand from corporates and banks. The overnight call money rates finished higher due to good demand from borrowing banks amid tight liquidity in the banking system.

The 7.17 per cent 10-year benchmark bond maturing in 2028 firmed up to Rs 95.25 from Rs 95.0975, while its yield softened to 7.88 per cent from 7.90 per cent.

The 6.68 per cent government security maturing in 2031 gained to Rs 88.5750 from Rs 88.45, while its yield edged down to 8.09 per cent from 8.11 per cent.

The 6.84 per cent government security maturing in 2022 climbed to Rs 96.22 from Rs 96.00, while its yield moved down to 7.83 per cent from 7.89 per cent.

The 6.79 per cent government security maturing in 2027, the 8.20 per cent government security maturing in 2022 and the 8.15 per cent government security maturing in 2022 were also quoted higher at Rs 92.57, Rs 101.11 and Rs 101.08 respectively.

The overnight call money rates ended higher at 5.85 per cent from Wednesday's level of 5.80 per cent. It resumed higher at 6.05 per cent and moved in a range of 6.05 per cent and 5.75 per cent.

Meanwhile, Reserve Bank of India, under the Liquidity Adjustment Facility, purchased securities worth Rs 39.55 billion in 7-bids at the overnight repo operations at a fixed rate of 6.00 per cent as on today, while, its sold securities worth Rs 65.27 billion in 42-bids at the overnight reverse repo auction at a fixed rate of 5.75 per cent as on May 16.

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