Bonds turn bearish

Government securities (G-Sec) turned bearish on selling pressure from banks and corporates.

The 7.16 per cent government security maturing in 2023 fell to Rs 90.75 from Rs 91.47 yesterday, while its yield climbed to 8.58 per cent from 8.46 per cent.

The 7.28 per cent government security maturing in 2019 declined to Rs 92.11 from Rs 92.25, while its yield moved up to 9.07 per cent from 9.03 per cent.

The 8.20 per cent government security maturing in 2025 dropped to Rs 94.50 from Rs 95.68, while its yield gained to 8.95 per cent from 8.79 per cent.

The 8.12 per cent government security maturing in 2020, the 8.33 per cent government security maturing in 2026 and the 8.83 per cent government security maturing in 2041 were also quoted lower at Rs 95.10, Rs 95.25 and Rs 96.75, respectively.

Call rates end lower
The call money rates ended lower at the overnight call money market here today due to lack of demand from borrowing banks amidst ample liquidity in the banking system.

The money rate finished lower at 10.10 per cent from 10.25 per cent previously. It moved in a range of 10.35 per cent and 10.10 per cent.

The Reserve Bank of India (RBI) under the Liquidity Adjustment Facility (LAF) purchased securities worth Rs 393.39 billion in 63-bids at the one-day repo auction at a fixed rate of 7.25 per cent, while its sold securities worth Rs 1.05 billion in five-bids at 1-day reverse repo auction at a fixed rate of 6.25 per cent in the evening auction.