12.59% Gilt Draws Rs 25cr Deals

NSE REPORT

The wholesale debt market at the National Stock Exchange (NSE) clocked a volume of Rs 111 crore yesterday.

Of this, the corporate debentures accounted to trades worth Rs 53.02 lakh. The inter-bank call rates remained in the 9.25-9.75 per cent range during the day.

The prices of securities have crushed followed by the Reserve Bank of Indias (RBI) announcement for the state government loan at 12.30 per cent for ten years. The market is confused about RBIs intention on interest rate movement, said a NSE broker.

The 12.59 per cent government loan maturing in 2004 touched the days low of Rs 102.95 and closed at the days high of Rs 104.55.

There were five trades for the paper, showing trades worth Rs 25 crore at a weighted yield of 11.82 per cent.

The bond issues of ICICI were in demand and showed trades worth over Rs 35 crore for the day. ICIC98A bond, which offers a coupon of 13.50 per cent, witnessed a volume of Rs 15 crore at a weighted yield of 11.51 per cent.

ICIC98B and ICIC98, both offering 13.50 per cent coupon, were traded for Rs 10 crore each. ICIC00A, offering 15.50 per cent, witnessed two trades at Rs 0.09 crore.