Price of 10-year benchmark G-Sec ends unchanged

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The 10-year Government Security Standard (G-Sec) price ended unchanged despite a weekly G-Sec auction of three G-Secs, where demand was relatively less robust compared to previous auctions. The government raised Rs 14,000 crore by selling 7.26 per cent 2033 GCs at a cut-off price of Rs 101.95, with the final yield being 6.9773 per cent.

The price of the aforementioned 10-year G-Sec index ended at €101.92 (yield: 6.98 percent), unchanged from the previous close.

“At the auction, although there was demand, it was not as strong as in the previous few auctions. In the last few auctions, the participants, including mutual funds, insurance companies, pension fund and HDFC Bank, bid higher than the prevailing market price,” said a dealer in a private sector bank.

The government also raised Rs 8,000 crores and 11,000 crores by selling 7.06 percent GS 2028 and 7.36 percent GS 2052 respectively. The final price of the 2028 and 2052 notes were Rs 100.69 (6.887 per cent) and Rs 102.07 (7.1883 per cent), respectively.