Sentiment: Bullish
Yields on gilts came off by around 15-20 basis points and that of corporate bonds softened by 30-40 basis points.
Bond markets turned buoyant as expectations gained ground that US action against Iraq might be stalled for the time being.
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The market also ignored the two-year high inflation figure of 4.86 per cent.
The benchmark 9.81 per cent 2013 gilt opened at a yield of 6.503 per cent (Rs 124.50), edged to a low of 6.283 per cent (Rs 126.40) and finished at 6.329 per cent (Rs 126) due to profit sales.
At the long-end, the 8.35 per cent 2022 gilt opened at a yield of 6.934 per cent (Rs 114.90) and was last dealt at a yield of 6.77 per cent (Rs 116.75).
The 2007 Exim paper was dealt at an yield of 7.10 per cent as against Saturday
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