The wholesale debt market segment of the NSE saw trading worth Rs 201.83 crore against a backdrop of falling call money rates.
Treasury chiefs are of the view that with most banks covering their positions for the fortnight, call rates are on the decline.
The debt market saw hectic trading in the newly-issued zero coupon security maturing in 2000.
The security, which was sold in the primary market at Rs 60.66, was being traded at Rs 60.32. The deal, struck at a yield of 13.89 per cent, was for Rs 35 crore.
Another security which saw active trading was the 13.50-per cent central government paper maturing in 1998.
A deal was struck for Rs 14 crore at 13.33 per cent. It will be settled the same day.
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"There was hardly any movement recorded in this security as well as the 13.50-per cent gilt maturing in 1997," a dealer in the debt market said.
Dealers expect the 13.50-per cent paper maturing in 1998 to witness active trading in the secondary market in the next few days.
The other short-term instruments to be traded were the 364-day and 91-day treasury bills.
"The 364- day treasury bill will be preferred to the 13.50 per cent gilt," a banker said.