Subdued Trade Seen

GILTS & BONDS MARKET

The week ahead is likely to see moderate trading in the securities market given that the calls are expected to move in the range of six per cent to eight per cent

The wholesale debt market at the NSE saw volumes of Rs 1581.23 crore last week against Rs 1232.08 crore for the week-ended May 10 1997. The traded volumes on Saturday were the lowest in the past week and amounted to Rs 123 crore which included Rs 25 crore worth deals in 12.69 per cent government loans maturing 2002 at 12.62 per cent yield.

Government securities were traded for Rs 1040.04 crore last week accounting for more than 65 per cent of the transactions conducted. The interest was more in the short and medium term securities with the 12.69 per cent government loan maturing in 2002 which was dealt for Rs 384 crore at 12.63 per cent yield. T-bills were exchanged for Rs 428.45 crore last week and the 364-day T-bills maturing in April '98 changing hands for Rs 45 crore at 9.4 per cent yield. Corporate debentures drew interest worth Rs 34 crore in the past week, including large deals in SPIC 18 per cent issue and Reliance 14 per cent debentures , accounting for 2.1 per cent of the volumes traded.