0305 GMT [Dow Jones] Indian government bond prices are likely to open
higher, tracking Monday's gains in U.S. Treasurys amid deepening
concerns over Spain's debt crisis. A dealer with a private bank tips
the benchmark 8.15% 2022 bond yield to open at 8.06% vs 8.07% at
Monday's close and to trade in a 8.05%-8.10% band through the session.
It closed at 100.55 in price terms Monday. Bonds are unlikely to be
swayed by late Monday's news that state-oil run oil companies plan to
raise gasoline prices from Tuesday, as the increase is marginal, the
dealer says. With few triggers expected this week ahead of the RBI's
rate-setting meeting on July 31, traders are eyeing steps by the
government to cut its fiscal deficit, such as an increase in state-set
diesel prices, he adds.(sudeep.jain@dowjones.com)
Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com
(END) Dow Jones Newswires
July 23, 2012 23:05 ET (03:05 GMT)
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