10.85% Gilt Mops Up Rs 148 Crore

NSE REPORT

The wholesale debt market segment of the National Stock Exchange clocked trades worth Rs 631.43 crore yesterday with corporate debentures accounting for only Rs 6.05 crore. There was hardly any activity in the treasury bills segment. The overnight interest rates ruled in the band of 7-7.50 per cent and closed at 6-6.50 levels.

Among government securities, the 10.85 per cent gilt maturing in 2001 was traded for Rs 148 crore at a weighted yield of 10.61 per cent, the 11.83 per cent security maturing in 2003 at 11.35 per cent, and the 12.59 per cent gilt maturing in 2004 for Rs 105 crore at 11.35 per cent. With the call rates showing signs of softening, the volumes in the government securities market should pick up in the coming days.

In keeping with the trend, the debentures traded on the bourse were centered around those from the Reliance stable. The 15.75 per cent Reliance Capital paper maturing in 2002 was traded for Rs 5.21 crore at a yield of 15.17 per cent, while the zero per cent Reliance Petro PPD was traded for Rs 70 lakh at an yield of 18.13 per cent. The SPN maturing in 1999 issued by TISCO was traded for Rs 1.26 lakh at an yield of 14.65 per cent.