Wdm Turnover Crashes

The turnover on the wholesale debt market (WDM) of the National Stock Exchange declined sharply by 33.9 per cent in February. The aggregate turnover on the WDM fell to Rs 66,974 crore in February from Rs 1,01,313 crore in February 2002.

The current drop in turnover has been the third highest during the current financial year. Earlier in May 2002 the turnover declined by 37 per cent and in June 2002 it slipped by 34 per cent.

The average daily turnover also fell to Rs 2,912 crore in February compared with Rs 4,405 crore in February 2002 while number of trades slipped to 10,728 from 16,127 in the reference period.

The highest turnover was logged by government securities as the 7.40 per cent paper maturing in 2012 saw a turnover of Rs 12,025.33 crore. It was followed by the 9.81 per cent 2013 paper (Rs 7,825 crore), 8.07 per cent 2017 (Rs 6,476.64 crore), 9.85 per cent 2015 (Rs 4,705 crore) and 9.39 per cent 2011 (Rs 3,995 crore).

Meanwhile, the aggregate turnover on WDM crossed the Rs 10 lakh crore mark in the first 11 months of the current fiscal.

The turnover aggregated to Rs 10,13,716 crore, a rise of 13.7 per cent over the aggregate turnover of Rs 8,91,202 crore achieved between April 2001 and February 2002.

During the month, the 10.18 per cent 2026 paper with 2.97 per cent rise in price topped the list of gainers. It moved up from Rs 139.85 on January 31 to Rs 144 on February 28. Ther gainers include the 7.40 per cent 2012 paper (price up by 2.69 per cent), the 9.81 per cent 2013 (2.65 per cent), 8.35 per cent 2022 (2.55 per cent) and 7.46 per cent 2017 (2.34 per cent).

However, the price of the 10.45 per cent 2018 paper declined sharply by 7.95 per cent to Rs 131.35 from Rs 142.70. The other losers were the 6.45 per cent EXIM12 paper (price down by 7.91 per cent), 6.50 per cent IDFC13 paper (7.78 per cent), 13.05 per cent 2007 paper (7.60 per cent) and 8.80 per cent PNB12 paper (7.45 per cent).