Call Hovers In 5-6% Range

MONEY MARKET REPORT

The interest rate in the inter-bank money market opened in the region of 6 - 7 per cent and closed at 5 - 6 per cent. There was hardly any demand for one day funds with the STCI weighted average call rate being 2.40 per cent for a sum of Rs 125 crore. The total turnover of STCI (one day and three day money) was Rs 1,300 crore.

Given that it was reporting Friday, the mop up at the repos was impressive with RBI getting 21 bids for Rs 5,916 crore. Thus, quantum of funds parked with RBI stands at Rs 11,074 crore. There was an inflow of Rs 961 crore yesterday on account of maturing of a 364-day treasury bill.

In the treasury bills segment, those maturing on Oct 9 was dealt at 9.15 per cent while the one maturing on 11 July was dealt at 7 per cent.

In the dated securities segment, prices of securities with a maturity of up to year 2001 moved up, and prices beyond that period were firm.

The 11.55 per cent 2001 was dealt up to a premium of 16 paise, the 11.75 per cent 2003 was dealt at par while there were no deals in 12.25 per cent 2011. Among other securities, the 13.40 per cent, 1999 was dealt at Rs 103.60, the 11.64 per cent 2000 at Rs 100.83 and the 13.85 per cent 2000 at Rs 105.43.