NSE REPORT
The wholesale debt market segment of the National Stock Exchange (NSE) witnessed lacklustre trading with deals worth Rs 132.55 crore being struck. The inter-bank call rates opened at 4.5 per cent levels and closed at higher levels of 6 per cent by the end of the day.
The immediate impact of the hardening of the call was felt in the T-Bills segment with the yields going up by 50 basis points. Dealers, however, said that they did not expect such a steep fall in the price of this paper. This apart, the 13.65 per cent central government security maturing in 1998 witnessed trading to the tune of Rs 15 crore struck at 11.85 per cent yields. The price of this security came down appreciably to Rs 103.90 from Rs 104.10 yesterday.
There was also selling pressure in the 13.50 1997 and 13.50 per cent 1998. The 13.50 per cent 1997, which is scheduled to mature on September 9, 1997 has been the most actively traded security with banks taking positions every time the call rates declined appreciably. The price of 13.50 per cent 1997 fell to Rs 102.95 only to recover by 10 paise later.
The 13.70 per cent central government security maturing in 1999 saw deals for Rs 10 crore struck at 12.59 per cent yields. The deals were struck at Rs 102.65. The zero coupon maturing in 2000 saw deals to the tune of Rs 10 crore.
