2024-01-09 15:41:43
Nine states raised Rs 19,300 crore from the market selling government securities, which was 34 per cent lower than the amount indicated for this week in the auction calendar.
Despite lower supply, the weighted average cut-off inched up to 7.72 per cent, which is the highest so far in FY24 from 7.71 per cent last week.
The payout increased in spite of the weighted average tenor remaining unchanged at 11 years.
Both this had the spread between the cut-off of the 10-year state bonds and the 10-year benchmark G-sec yield inching up to 54 bps from 53 bps last week, which again is the highest so far this fiscal. Both the rates are also at an over two-year high.
Cumulatively, the state borrowed Rs 6.4 lakh crore from the market so far this fiscal, which is 34 per cent more than they had raised a year ago at Rs 4.8 lakh crore, according to Nayar.
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