Funds invest liquid scheme inflows in NCDs
Mutual funds received inflows in their liquid and liquid plus schemes and were investing in non-convertible debentures On Monday, dealers said.
Banks also stayed away from further issuances as they had raised around Rs 7,300 crore through certificates of deposit last week.
On Monday, banks placed Rs 2,850 crore worth of CDs. Three-month CPs were quoted at 12-13 per cent On Monday unchanged from Friday, while three-month CDs remained unchanged at 7.40-7.60 per cent.
Secondary market
CDs maturing in December were dealt at 5.75-6.00 per cent, unchanged from Friday. CDS maturing in March were quoted at 7.75-7.95 per cent.