Traded Volumes Touch Rs 404.09 Crore

NSE REPORT

The wholesale debt market of the National Stock Exchange witnessed trades worth Rs 404.09 crore yesterday. The 13.50 per cent 1997 government loan was traded actively for Rs 190 crore at an indicative yield of 8.77 per cent while the 13.50 per cent 1998 government stock was traded for Rs 50 crore at an indicative yield of 9.92 per cent.

The inter-bank call rate meanwhile remained in the range of 0.25-0.75 per cent. There is an overall fear in the market the Reserve Bank of India may retain the over-subscribed amount of the state government loans so a lot of dealers are seling their securities in the market, said a dealer with a leading private sector bank. The market has become quite bearish during the week but despire all this, banks are willing to put their money in repos, said a dealer with a foreign bank.

The commercial paper of Grasim, maturing on June 26 1997, was traded at 7.50 per cent while a repo deal was concluded in the 364-day T-bill maturing on April 24 1998 for Rs 5 crore at 4 per cent.

Corporate debentures were traded for Rs 31.77 lakh on the exchange during the day with the Tisco SPN 1999 recording the maximum number of trades at Rs 10.86 lakh. The IDBI Deep Discount 2021 was traded for Rs 7.83 lakh.