Turnover Increases To Rs 151.22 Crore

Trading in the debt market remained moderate as most banks continued to stay away from striking deals ahead of the credit policy.

However, the turnover climbed to Rs 151.22 crore as banks continued to pick up short-term securities.

The 13.50 per cent central government security maturing in 1998, which opened for trading yesterday after remaining closed for voucher payment, saw deals to the tune of Rs 35 crore.

Dealers said the entire sum was struck over the closure period. A Rs 6 crore deal was struck in the 13.50 per cent central government security maturing in 1997. The deal is to be settled after one day. Another deal for Rs 10 crore was struck in the same security at 12.72 per cent yields.

The 364-day treasury bill maturing on October 10 continued to witness active trading. A deal for Rs 15 crore was struck in the paper at 12.44 per cent yields.

This is to be settled the same day. Another deal for Rs 10 crore was concluded in the same paper at 12.45 per cent. This trade is to be settled after one day.

Calls also firmed up marginally yesterday, one day ahead of the credit policy. This apart, the cut off yield on the 91-day treasury bill was brought down to 10.07 per cent yesterday from 10.11 per cent.