NSE REPORT
Traded volume in the wholesale debt market segment of the National Stock Exchange (NSE) touched Rs 408.24 crore yesterday compared with Rs 367.81 crore the previous day. Major part of the volume was contributed by government securities, which were traded for Rs 243 crore, including Rs 105 crore worth deals in zero coupons.
Dealers say volumes were driven by today's redemption inflow of Rs 1,000 crore from the 12.30 per cent government paper maturing in 1998. This has led to a lot of short-sale in the paper, which was reflected in the buying pressure on other papers. Accordingly, excess liquidity is expected in today's trading.
That apart, the cut-off rate on the 364-day treasury bill auction yesterday at 10.54 per cent compared with 10.65 per cent in the previous auction had a comforting impact on the interest rate scenario, say dealers.
They expect some profit-taking today with prices moving down a bit. However, they expect the volumes to remain high.
The 12 per cent 1999 was dealt for Rs 44 crore at a 10.25 per cent yield, while the 11.40 per cent 2000 was traded for Rs 25 crore in the price range of Rs 100.05-08, giving a yield of 11.35 per cent. The 11.55 per cent 2001 was traded for Rs 20 crore at a 11.49 per cent yield.
