G-secs drop, call rate ends lower

Government bonds (G-Secs) dropped further on sustained selling pressure from banks and corporates.
The overnight call money rate ended lower due to subdued demand from borrowing banks amid ample liquidity in the banking system.
The 8.40 per cent government security maturing in 2024 fell to Rs 103.48 from Rs 103.78 previously, while its yield gained to 7.86 per cent from 7.82 per cent.
The 8.60 per cent government security maturing in 2028 eased to Rs 105.90 from Rs 106.30, while its yield rose to 7.87 per cent from 7.82 per cent.
The 8.27 per cent government security maturing in 2020 also declined to Rs 101.62 from Rs 101.84, while its yield climbed to 7.87 per cent from 7.82 per cent.

The 8.15 per cent government security maturing in 2026, the 8.83 per cent government security maturing in 2023 and the 7.95 per cent government security maturing in 2032 were also quoted lower at Rs 102.06, Rs 105.55 and Rs 100.45, respectively.
The overnight call money rates ended lower at 6.50 per cent from yesterday's level of 7.30 per cent. It moved in a range of 7.90 per cent and 6.00 per cent. The 5-Day call money rates resumed at 7.75 and moved in a wide range of 8.50 per cent and 7.05 per cent before finishing at 7.75 per cent.

Meanwhile, the Reserve Bank of India (RBI), under the Liquidity Adjustment Facility (LAF), purchased securities worth Rs 190 billion in 51 bids at the 5-days repo auction at a fixed rate of 7.50 per cent as on today. While, it sold securities worth Rs 136.78 billion from 24 bids at the overnight reverse repo auction at a fixed rate of 6.50 per cent as on April 29.