Government bond prices declined sharply on fresh selling pressure on high inflation and call rates also eased due to surfeit of liquidity.
The government securities showed bearish trend as the market is waiting for the Reserve Bank of India (RBI) to announce the rise in interest rates in the month-end meeting due to high inflation that touched a two-year high.
The 7.59 per government security maturing in 2016 dropped to Rs 98.00/05 from Rs 98.58/64 previously while its yield rose to 7.90 per cent from 7.79.
The 9.39 per government stock maturing in 2011 moved down to 105.80/106.00 from 106.11/20 and its yield shot up to 7.82 per cent from 7.72 per cent the 8.07 per cent government security fell to Rs 101.12/17 from 101.75/84 and yield moved up to 7.90 per cent from 7.81 per cent.
On the overnight call money market, call rates moved in a range of 7.90 per cent and 8.00 per cent before ending at 7.90 per cent from 8.00 per cent last weekend.
The Reserve Bank of India (RBI), under the Liquidity Adjustment Facility (LAF), infused Rs 5,465 crore in 14 bids at the one-day repo auction at 7.25 per cent and absorbed Rs 150 crore in two bids at the one-day reverse repo auction at 6.00 per cent in the morning.
RBI also absorbed Rs 8,995 crore in 17 bids at the one-day repo auction at 7.25 per cent and Rs 95 crore in three bids at the one-day repo reverse repo auction at 6.00 per cent under second LAF.
Harvard students condemn Oxford University
Publish Date : 3/5/2007 7:11:00 AM
Two Harvard students, including an NRI, have condemned Oxford University, where they are Rhodes scholars, as "outdated" and "frustrating" and dismissed its world famous Bodleian library as "less than inspiring".
Indian embassy to outsource jobs to American firm
Publish Date : 3/5/2007 7:10:00 AM
After taking thousands of American jobs through outsourcing, India is planning to give a few back. The Indian embassy in the US capital is planning to outsource processing of visas to a US-based company.
Badal heads 18-member coalition ministry in Punjab(Final lead: Badal)
Publish Date : 3/3/2007 7:29:00 AM
Octogenarian leader of the Shiromani Akali Dal (SAD) Parkash Singh Badal, on Friday took oath as Punjab's new Chief Minister and will lead an 18-member SAD-Bharatiya Janata Party (BJP) coalition ministry.
Bareilly eunuch adopts a girl child
Publish Date : 3/3/2007 7:22:00 AM
It was a day of celebration for Saroj, a eunuch in Bareilly in Uttar Pradesh, as 'she' has become a 'mother' by adopting a baby girl.
Kalam offers prayer at Fatehpuri Masjid
Publish Date : 3/3/2007 7:16:00 AM
Keeping a promise made two years ago, President A P J Abdul Kalam today offered prayers at the historic Fatehpuri Masjid in Chandni Chowk here along with thousands of Muslims.
Union Budget directionless, says Modi
Publish Date : 3/1/2007 8:41:00 AM
Gujarat Chief Minister Narendra Modi today criticised the Union Budget by terming it as "directionless".
Centre allocates over Rs 100 crore for minority zones
Publish Date : 3/1/2007 8:38:00 AM
Unfazed by the BJP's criticism over its welfare schemes for Muslims, the Congress-led Central Government has allocated over Rs 100 crore for development programmes in select districts with a sizeable population of minorities.
Kins of political bigwigs fail to find voters' favour
Publish Date : 3/1/2007 8:27:00 AM
The assembly polls in Punjab turned out to be unkind for several kins of political bigwigs as voters rejected most of them barring some of Shiromani Akali Dal (SAD) supremo Parkash Singh Badal's near and dear ones.
High Court order on age of nursery admission tomorrow
Publish Date : 3/1/2007 8:24:00 AM
The Delhi High Court today observed that the city Government's submission that a child should be four-years-old to get admission in nursery class was contrary to the law.
Parliament session may be stormy tomorrow on Quattrocchi issue
Publish Date : 3/1/2007 8:18:00 AM
After the lull, it is going to be storm again in Parliament tomorrow.
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