The Reserve Bank of India (RBI) extended the bond market trading time by an hour on Friday, as the auction results were released after 5 pm. Generally, the auction results are released after 2 pm and the bond market closes by 5 pm.
The RBI on last Friday too had extended the trading hours following a delayed release of auction results.
“Delaying of auction results is unusual, but it does happen. However, delaying auction results is avoidable as that sets the market rate for the day. The market gets confused and picks up wrong signals,” said a bond dealer.
The delay in auction