Comments
Prices of government securities (G-Secs) saw a sharp correction as traders offloaded securities to create room for placing bids at Friday’s auction.
Price of the 10-year benchmark G-Sec/GS (coupon rate: 6.54 per cent) declined 50 paise to close at ₹95.7250 (previous close: ₹96.2250). Yield of this paper rose about 7 basis points to close at 7.156 per cent (7.0818 per cent).
Bond prices and yields are inversely co-related and move in opposite directions. One basis point is equivalent to 0.01 per cent.
The government plans to raise Rs 33,000 crore via auction of four G-Secs, including the 10-year benchmark G-Sec, on April 29.
Price of the 13-year G-Sec/GS (coupon rate: 6.67 per cent) fell about 31 paise to close at ₹94.3475 (₹94.655). Yield of this paper rose about 4 basis points to close at 7.3316 per cent (7.2941 per cent).
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.