Trading Volumes Slump To Rs 138.80 Crore

Trading volumes saw a steep descent Rs. 138.80 crores from Rs. 247.01 crores on Tuesday.

Among the most widely traded securities were the 13.50 per cent 1997 paper which traded for Rs 25 crores at 10.26 per cent. The 12.50 per cent 2004 government stock and the 11.64 per cent 2000 government loan were both traded for Rs 30 crore each at 13.77 per cent and 13.29 per cent respectively. The yields on most securities were marginally higher than on Tuesday.

The 13 per cent taxable ICICI bond maturing in 1999 was traded at 17.03 per cent. The treasury bills market also saw a fair amount of trading with the three-month papers maturing in November 16, 1996 and January 18, 1997 trading at Rs 10 crore each at a yield of 5.73 per cent and 6.33 per cent respectively. Trades worth Rs 21.20 crore were recorded in the 364-day treasury bills.

The subdued market conditions, according to dealers, was because of uncovered positions.