Price of the 10-year benchmark Government Security (G-Sec) ended unchanged despite the weekly G-Sec auction of three G-Secs sailing through, as demand was relatively relatively less robust vis-a-vis previous auctions. The government raised ₹14,000 crore via sale of the 7.26 per cent 2033 G-Sec at a cut-off price of ₹101.95, with the cut-off yield being 6.9773 per cent.
Price of the aforementioned 10-year benchmark G-Sec ended at ₹101.92 (yield: 6.98 per cent), unchanged from the previous close.
“In the auction, though demand was there, it was not as robust as it was in the previous few auctions. In the last few auctions, participants, including mutual funds, insurance companies, pension fund and HDFC Bank, had bid above prevailing market price,” said a dealer with a private sector bank.
The government also raised ₹8,000 crore and ₹11,000 crore through sale of 7.06 per cent GS 2028 and 7.36 per cent GS 2052, respectively. The cut-off price for the 2028 paper and 2052 paper was ₹100.69 (6.887 per cent) and ₹102.07 (7.1883 per cent), respectively.
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