11.55% 2001 Gilt Dealt For Rs 40 Cr

NSE REPORT

The prices of government securities in the wholesale debt market (WDM) of the National Stock Exchange (NSE) perked up following Reserve Bank of India having sold out its stock of 11.55 per cent 2001 paper.

The price of this security went up to Rs 100.15 - Rs 100.19. The RBI was selling this security at Rs 100.07. Securities prices were firm in the short-to-medium term.

The RBI has also announced a revised price list, and this should provide direction to the market today.

The call rate continued to rule above the repo rate of 5 per cent. The NSE Mibid was 6.70 per cent (standard deviation 0.0360) and the NSE Mibor was 6.99 per cent (standard deviation 0.0319).

The WDM witnessed 66 trades for a sum of Rs 306.47 crore.

The 0 per cent 2000 was traded for a sum of Rs 40 crore at a weighted yield of 11.15 per cent, and the 11.55 per cent 2001 for Rs 40 crore at a weighted yield of 11.45 per cent. The certificate of deposit issued by the Industrial Development Bank of India (IDBI), maturing on September 12, 1998, was traded for Rs 15 crore at an yield of 10 per cent. The total value of debentures traded yesterday was Rs 7.94 crore.