12 Per Cent Paper Draws Rs 30 Crore

NSE REPORT

The wholesale debt market segment of the National Stock Exchange witnessed trades worth Rs 217.99 crore yesterday with the 12 per cent 1999 government stock being traded for Rs 30 crore at 12.68 per cent.

The 364-day treasury bills maturing on July 18, 1997, were traded for Rs 50 crore at 9.74 per cent, while the 364-day treasury bills maturing in December 1997 were transacted at 10.07 per cent. The inter-bank call rates hovered around at 4-5 per cent during the day.

Dealers, however, expect the market to remain subdued in the week ahead.

Said a dealer with a private bank, Many dealers, especially nationalised banks, are not going to take fresh positions during the week and are instead going to adopt a wait and watch position.

A lot of uncertainty prevails in the market regarding the liquidity situation on account of advance tax outflows which should amount to Rs 5,000 crore.

Corporate debentures were traded for Rs 29.64 lakh with the Tisco SPN 1999 trading at Rs 14.36 lakh. The 16 per cent ICICI bonds maturing in 2001 were traded at Rs 5.20 lakh.