NSE REPORT
The wholesale debt market segment of the National Stock Exchange (NSE) yesterday witnessed a total traded volume of Rs 553.54 crore (Rs 408.24 crore).
Trading in gilts improved substantially. While volumes had risen yesterday, the undercurrent was dull. Trading was largely driven by profit-taking on the short-sale. Dealers say the market saw a spurt in the morning but the selling pressure that came in later brought back prices to yesterday's level.
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The private placement of the Rs 2000-crore 10-year paper yesterday and the Rs 1,500 crore 2-year paper auction to be head on coming Monday are not going to have much of a negative impact on the market.
Dealers feel there could be some sentiment-driven selling today but the market will regain on Monday. They point out that repo outstandings with the RBI is well above Rs 4,500 crore and so the auction easily go through.
The 11.40 per cent security maturing in 2000 was traded for Rs 95 crore in the price range of Rs 100.07-09 and closed at Rs 100.07, giving a yield of 11.33 per cent. The 13.25 per cent 2000 was dealt for Rs 55 crore at a yield of 11.18 per cent, while the 11.75 per cent 2001 was traded for Rs 55 crore at a yield of 11.48 per cent.
The zero coupon 2000 (series-III) was dealt for Rs 35 crore at a 11.32 per cent yield. State government loans maturing in 2008 were traded at a weighted average yield of 12.44 per cent.