Bonds remain bearish, call rates eases

The government bond (G-Sec) prices fell further on sustained selling from banks and corporates.
The overnight and the three-days call money rate slipped due to lack of demand from borrowing banks.
The 8.83 per cent 10-year benchmark bond maturing in 2023 dropped to Rs 100.66 from Rs 100.89, while its yield gained to 8.72 per cent from 8.69 previously.
The 8.35 per cent government security maturing in 2022 declined to Rs 97.69 from Rs 97.89, while yield moved up to 8.76 per cent from 8.72 per cent.
The 8.28 per cent government security maturing in 2027 dipped to Rs 96.2150 as against Rs 96.49, while its yield advanced to 8.77 per cent from 8.73.

The 8.12 per cent government security maturing in 2020 also looked down to Rs 96.96 as compared to Rs 97.1675, while its yield climbed to 8.74 per cent from Rs 8.70 per cent.

The 8.60 per cent government security maturing in 2028, 7.16 per cent government security maturing in 2023 and 7.80 per cent government security maturing in 2020 were also quoted lower at Rs 99.76, Rs 90.05 and Rs 95.62, respectively.
The overnight call money rate ended lower at 7.00 per cent from yesterday's close of 7.90. The 3-days call money rate also slip to 8.50 per cent as against 8.75 per cent last Friday. It moved in a range of 8.70 per cent and 7.60 per cent earlier.

Meanwhile, the Reserve Bank of India (RBI), under the Liquidity Adjustment Facility (LAF), purchased securities worth Rs 116.26 billion in 25-bids at the 3-days repo auction at a fixed rate of 8.00 per cent today morning, while it sold securities worth Rs 35.55 billion from 13-bids at the 1-day reverse repo auction at a fixed rate of 7.00 per cent last evening.