Government bonds (G-Secs) continued their upsurge for the second straight day following sustained buying by market participants as well as foreign funds, while yields tumbled to three-year low.
The interbank call rates staged a smart rebound on the back of strong demand from borrowing banks owing to tight liquidity conditions in the banking system.
- Government Bonds
The benchmark 7.59 percent government security maturing in 2029 climbed to Rs 102.6850 as compared to Rs 102.49 yesterday, while its yield dropped to 7.26 percent from 7.28 percent.
The 7.59 percent government security maturing in 2026 rose to Rs 102.89 from Rs 102.7350, while yield declined to 7.16 percent from 7.19 percent.
The 7.88 percent government security maturing in 2030 firmed up to Rs 105.29 compared to Rs 105.01, while yield slumped to 7.26 percent from Rs 7.29 percent.
The 7.61 percent government security maturing in 2030, the 7.68 percent government security maturing in 2023 and the 7.72 percent government security maturing in 2025 were also quoted higher at Rs 103.34, Rs 102.94 and Rs 103.2050, respectively.
The overnight borrowing rate finished sharply higher at 6.90 percent, recovering from Thursday's close of 6.05 percent.
It opened at 6.50 percent and hovered between 6.90 percent and 6.00 percent. The 3-day call money rate ended at 6.55 per cent after trading between 6.60 percent and 6.15 percent during the trade.
Meanwhile, the Reserve Bank of India (RBI), under the Liquidity Adjustment Facility (LAF), purchased securities worth Rs 34.95 billion in 8-bids at a three-day repo auction at a fixed rate of 6.50 percent this evening.
It sold securities worth Rs 79.90 billion from 29-bids at the overnight reverse repo auction at a fixed rate of 6.00 percent late yesterday.
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