NSE REPORT
The volumes in the wholesale debt market segment of the National Stock Exchange (NSE) were to the tune of Rs 873.87 crore yesterday.
Of this, corporate debentures accounted for Rs 92.59 lakh.
Contrary to expectations, the prices of all securities held their ground in spite of the prospect of fresh inflow of government paper.
In government securities, there were trades worth Rs 200 crore in the 12.59 per cent government loan maturing in 2004 at an yield in the region of 11.64 per cent.
Among other securities, the 12,14 per cent gilt maturing in 2000 accounted for Rs 145 crore of the trades at 10.34 per cent, while the new security, the 11.83 per cent paper maturing in 2003, was traded for Rs 115 crore at 11.51 per cent.
Given the prevailing yields in the secondary market, money market dealers say that the forthcoming auction of the 4-year paper should see a cut-off yield in the region of 10.75 per cent.
Among corporate debentures, the zero per cent Reliance Petros partly-convertible debenture accounted for Rs 84.50 lakh out of the Rs 92.59 lakh corporate contribution.
This instrument was traded at an yield of 17.97 per cent.
