Turnover Declines To Rs 375.16 Crore

NSE REPORT

Hardening of the overnight money rates saw a reduced interest in the securities market at the National Stock Exchange (NSE) yesterday. The turnover was lower at Rs 375.16 crore. Calls opened higher at 8.5 per cent moved up to nine per cent levels before closing at 7.75 - 8 per cent for the day.

The securities market saw a subdued trend initially in the morning but picked up later in the day.

The initial reaction was based on the higher calls but the prices saw a slight dip later as the news of a seven-year government paper auction filtered down said a money market dealer .

 

The securities which drew interest were the 12.14 per cent government loan maturing in 2000, dealt for Rs 105 crore at 11.91 per cent and the 5-year government loan maturing in 2002 traded for Rs 30 crore at 12.37 per cent yield.

Treasury bills were traded for Rs 38.9 crore of which the 364-day bills maturing in April 98 for Rs 15 crore at 8.9 per cent yield .

Corporate debentures traded for Rs 10.95 crore, of which the Reliance Capital issue of 15.5 per cent debentures maturing in 2000 saw a single deal for Rs 9.98 crore taking place .The 13.5 per cent ICICI bond maturing in 1998 traded for Rs 5 crore at 14.2 per cent yield.