Short-term primary issues fall

Primary issuances fell on Monday due to lack of market participation as the left parties and Bharatiya Janata Party called a 12-hour nationwide bandh on Monday to protest the rise in fuel prices, dealer said.

“There were hardly any quotes. Only Steel Authority of India had invited bids for three-month commercial papers. Trade will remain lacklustre on Monday,” said a dealer at a mutual fund. Only United Bank of India placed 3-month certificates of deposit (CDs) worth Rs 250 crore at 6.4 per cent on Monday. Three-month CDs were dealt at 6.30-6.45 per cent on Monday, compared with 6.05-6.20 per cent on Friday.