NSE REPORT
The wholesale debt market at the National Stock Exchange (NSE) clocked turnover worth Rs 449.70 crore yesterday as against Rs 216.48 crore the previous day. Of this, the corporate debt segment recorded a volume of Rs 92.50 lakh compared with the previous days volume of Rs 43.02 lakh.
There were net sellers in the market and buyers were available only at lower rates, said a dealer. The overnight call rates ruled in the region of seven to 7.75 per cent for the day.
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Prices of securities has dipped on account of tight call money rates. Consequently, banks were selling off securities to create liquidity in the portfolio. For instance, the prices of the 11.19 per cent government loan maturing in 2005 dropped from Rs 100.35 to Rs 100.20 during the day, said a dealer. Trades worth Rs 50 crore was reported for the paper at a weighted yield of 11.12 per cent. The 12.59 per cent gilt maturing in 2004 was in demand and was traded at a weighted yield of 11.10 per cent. The paper witnessed trades worth Rs 100 crore against Rs 25 crore the previous day.
The 364-days treasury bills maturing in October was also in demand and traded at a weighted yield of seven per cent for Rs 45 crore.
In the government securities market, 54 trades were reported on the NSE, while in the corporate debenture segment 684 trades were reported during the day.