Trading Volumes Touch Rs 113.73 Crore
Trading in the government securities market continued to be brisk with most of the one, two and three-year papers seeing active buying interest by banks.
The turnover in the debt market touched Rs 113.73 crore.
Some interest was also seen in the 91-day and 364-day treasury bills market.
However, the yields on most securities remained stable compared with thelast week's levels.
In the previous week, the prices of most dated securities had jumped up by 5 to 10 paise on
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account
the belief that the a reduction in
cash reserve ratio was imminent. The 13.5-per cent 1998 paper was traded at a price of Rs 101.78- Rs 101.79.
The 13.62-per cent 1998 paper was traded at Rs 101.10-Rs 101.12. The 13.70-per cent 1999 paper
was seen to be traded at Rs 101.32.
Rates in the inter-bank call money markets dipped lower compared with the previous week.
The dip in rates was mostly sentiment-driven as banks were expecting a cut in reserve ratio requirements.
It was reported that demand in the securities market will remain good for a considerable period of time as the bull run in the
government papers is expected to continue for some time.