Bonds decline, call rates slip

Government bonds (G-Secs) declined further on sustained selling pressure from banks and corporates.
The overnight call money rate slipped at the money market due to lack of demand from borrowing banks amid ample liquidity in the banking system.
The 8.40 per cent government security maturing in 2024 eased to Rs 104.51 from Rs 104.61 previously, while its yield edged up to 7.72 per cent from 7.70 per cent.
The 8.60 per cent government security maturing in 2028 dipped to Rs 107.13 from Rs 107.2550, while its yield rose to 7.73 per cent from 7.71 per cent.
The 8.27 per cent government security maturing in 2020 also fell to Rs 102.2175 from Rs 102.30, while its yield moved-up to 7.75 per cent from 7.73 per cent.

The 8.15 per cent government security maturing in 2026, the 8.83 per cent government security maturing in 2023 and the 8.28 per cent government security maturing in 2027 were also quoted lower at Rs 103.7975, Rs 106.50 and Rs 103.94 respectively.
The overnight call money rates ended lower at 6.75 per cent from yesterday's closing level of 8.00 per cent. It moved in a range of 8.20 per cent and 6.50 per cent.
Meanwhile, the Reserve Bank of India (RBI), under the Liquidity Adjustment Facility (LAF), purchased securities worth Rs 183.02 billion in 56-bids at the 1-day repo auction at a fixed rate of 7.75 per cent today, while it sold securities worth Rs 37.75 billion from 15-bids at the 1-day reverse repo auction at a fixed rate of 6.75 per cent as on Feb 23.