While the card price continues to fall, this is for the first time in several months that the open market BSE card value has dipped to these levels. BSE officials could not confirm the deal, stating that details would be made available first to the scrutiny committee and later brought before the governing board for approval.
Sources said the card value has lessened due to the weakening market sentiment, the narrow jobbing spreads and lower brokerage levels and the growing presence of brokerage houses set up by FIIs.
The auctioned value of the BSE card remains relatively high, at close to Rs 2 crore, marketmen said.
Just around two weeks back, the BSE card value had fallen to Rs 1.4 crore, with at least 10 sellers for the card but no buyers at that level. Currently, with a fresh deal being struck for close to Rs 95 lakh, sources said.
The market conditions are so weak that there is little that could be done to prop up the card value, a top exchange official said on condition of anonymity.