Bonds drop while call rate tumbles further

The government securities (G-Sec) dropped on selling by banks and corporates while call rate tumbled further on the Overnight call money market today on surfeit of liquidity in the system.

Written by Agencies | Mumbai | Published:February 22, 2012 9:42 pm

The government securities (G-Sec) dropped on selling by banks and corporates while call rate tumbled further on the Overnight call money market today on surfeit of liquidity in the system.

The 8.79 per cent G-Sec maturing in 2021 fell back to Rs 103.73 from Rs 104.06 yesterday,while its yield shot up to 8.22 per cent from 8.17 per cent.

The 9.15 per cent G-Sec maturing in 2024 per cent slipped further to Rs 106.4025 from Rs 106.69,while its yield rose to 8.32 per cent from 8.29 per cent previously. The 7.83 per cent G-Sec maturing in 2018 reacted downwards to Rs 97.79 from Rs 97.9050,while its yield firmed up to 8.29 per cent from 8.27 per cent.

The 8.19 per cent G-sec maturing in 2020,the 8.24 per maturing in 2018 and 8.97 per cent maturing in 2030 also ended lower at Rs 99.50,Rs 99.60 and Rs 103.65 respectively. After moving in a range of 8.85 per cent and 8.50 per cent,the call money rate ended further sharply lower at 8.50 per cent from 8.85 per cent yesterday.

The Reserve Bank of India (RBI) under the Liquidity Adjustment Facility (LAF) purchased securities worth Rs 1,40,950 crore from 57 bids at the one-day repo auction at a fixed rate of 8.50 per cent while sold securities worth Rs 4,655 crore from five bids at the one-day reverse repo auction at a fixed rate of 7.50 per cent.

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