Trading volumes in the wholesale debt market (WDM) segment of the National Stock Exchange (NSE) rose by 90 per cent year on year in the quarter ended June 2003.
In actual terms, it rose from Rs 1,85,057 crore in April-June 2002 to Rs 3,51,083 crore in April-June 2003.
Interestingly, the turnover crossed the Rs 1,00,000 crore mark in all the three months of the quarter under review.
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In April 2003, it aggregated at Rs 1,01,052 crore, moved up to Rs 1,23,359 crore in May and further to Rs 1,26,672 crore in June.
Incidentally, the June number means it was tenth time that the debt mart turnover has crossed Rs 1,00,000 mark in the last eighteen months.
From a growth rate of 30.67 per cent in April, turnover rose by 131.68 per cent in May and 132.5 per cent rise in turnover in June 2003.
As in May, June saw aggressive buying from the mutual funds and foreign institutional investors (FII).
Trades by mutual funds in the market stood at Rs 19,657 crore during the first quarter of the current year, up 37.3 per cent over Rs 14,314 crore during the corresponding previous quarter.
The turnover notched up by foreign institutional investors increased by 130.2 per cent to Rs 2,650 crore.
Trading continued to be centred around government securities.
The traded volume in these securities was at Rs 3,27,425 crore in April-June 2003, accounting for 93.26 per cent of the total traded volume.
During the quarter ended June 2002, trading in government securities stood at Rs 1,67,972 crore or 90.77 per cent of the total traded volumes.
Traded volume in treasury bills zoomed up by 98.47 per cent to Rs 11,724 crore. The 364-day treasury bill attracted a volume of Rs 9,390 crore, up 124.75 per cent, while the 91-day bill saw a traded volume of 2,334 crore, up 34.98 per cent over the corresponding previous quarter.