AGL 41.50 Increased By ▲ 2.96 (7.68%)
AIRLINK 128.00 Decreased By ▼ -1.50 (-1.16%)
BOP 6.26 Increased By ▲ 0.65 (11.59%)
CNERGY 4.13 Increased By ▲ 0.27 (6.99%)
DCL 8.44 Decreased By ▼ -0.29 (-3.32%)
DFML 40.69 Decreased By ▼ -1.07 (-2.56%)
DGKC 87.90 Decreased By ▼ -0.40 (-0.45%)
FCCL 34.10 Decreased By ▼ -0.90 (-2.57%)
FFBL 66.33 Decreased By ▼ -1.02 (-1.51%)
FFL 10.56 Decreased By ▼ -0.05 (-0.47%)
HUBC 108.70 Decreased By ▼ -0.06 (-0.06%)
HUMNL 14.46 Decreased By ▼ -0.20 (-1.36%)
KEL 4.65 Decreased By ▼ -0.10 (-2.11%)
KOSM 7.33 Increased By ▲ 0.38 (5.47%)
MLCF 42.72 Increased By ▲ 1.07 (2.57%)
NBP 60.84 Increased By ▲ 1.24 (2.08%)
OGDC 178.97 Decreased By ▼ -4.03 (-2.2%)
PAEL 25.70 Decreased By ▼ -0.55 (-2.1%)
PIBTL 6.06 Increased By ▲ 0.09 (1.51%)
PPL 146.15 Decreased By ▼ -0.55 (-0.37%)
PRL 24.91 Increased By ▲ 1.30 (5.51%)
PTC 16.14 Decreased By ▼ -0.42 (-2.54%)
SEARL 70.20 Increased By ▲ 1.90 (2.78%)
TELE 7.22 Decreased By ▼ -0.01 (-0.14%)
TOMCL 36.20 Increased By ▲ 0.25 (0.7%)
TPLP 7.84 Decreased By ▼ -0.01 (-0.13%)
TREET 15.59 Increased By ▲ 1.39 (9.79%)
TRG 50.36 Decreased By ▼ -0.09 (-0.18%)
UNITY 26.90 Increased By ▲ 0.15 (0.56%)
WTL 1.24 Increased By ▲ 0.03 (2.48%)
BR100 9,795 Decreased By -11.1 (-0.11%)
BR30 29,647 Decreased By -31.2 (-0.1%)
KSE100 92,021 Decreased By -282.9 (-0.31%)
KSE30 28,665 Decreased By -175.5 (-0.61%)

Indian federal bond yields extended their retreat from two-week highs on Friday, buoyed by easy cash conditions and a fall in oil prices to 1-1/2 year lows that eased some concerns about inflation still being in double digits. At 9:47 am (0417 GMT).
The benchmark 10-year bond yield was at 7.67 percent, four basis points below Thursday's close of 7.71 percent and below a two-week high of 7.74 percent hit earlier this week. Volume was a normal 9.90 billion rupees ($208 million) on the central bank's electronic trading platform, with the 10-year bond being the most actively traded.
"Today's auction is expected to sail through smoothly after the successful buyback yesterday, and that is boosting sentiment a bit," said a senior dealer at a private bank. The central bank bought back intervention bonds worth 100 billion rupees on Thursday, infusing liquidity into the system ahead of Friday's auction of 100 billion rupees of bonds.
It also absorbed 318 billion rupees of cash via its reverse repo auction on Thursday, the largest amount since October 24, reflecting improved cash conditions. India's annual inflation was at 10.72 percent as of October 25, above the median forecast of 10.45 percent, and little changed from the previous week's annual rise of 10.68 percent.
Oil was fell below $50 a barrel for the first time since March 2007 on Friday. India imports a majority of its oil needs and sharp falls in global prices have raised expectations of a local fuel price cut in recent weeks. Britain and Europe slashed interest rates on Thursday amid recession fears deepened by some of the worst US retail sales in decades and an IMF forecast for an economic contraction not seen since World War Two.

Copyright Reuters, 2008

Comments

Comments are closed.