NSE REPORT
The announcement of the credit policy had no impact on the wholesale debt market segment of the National Stock Exchange, which witnessed transactions worth Rs 491.44 crore yesterday.
The 13.50 per cent 1998 government stock was traded actively at an indicative yield of 9.16 per cent, while the 13.80 per cent 2002 government stock saw transactions worth Rs 50 crore at an indicative yield of 12.52 per cent.
The 364-day treasury bills maturing on February 27 and April 10, 1998 were traded for Rs 100 crore at 8.53 per cent and Rs 55 crore at 8.70 per cent respectively. The certificates of deposit (CDs) issued by ICICI and Oriental Bank of Commerce were dealt at 8.57 per cent and 8.82 per cent respectively. Said a dealer with a private bank, The market was expecting certain things from the credit policy which came through today.
The market already reacted on these expectations over the past few weeks. It is, therefore, not surprising that the market has not reacted to todays policy.
Corporate debentures were transacted for Rs 33.51 lakh on the exchange with the Industrial Development Bank of India (IDBI) Deep Discount 2021 witnessing the maximum trades at Rs 14.56 lakh.
