11 september 2004

bond prices surge - rupee firms up
mumbai: the rupee closed marginally stronger at 46.2650/2750 as against its close at 46.29/30 on thursday.

forwards market: the six-month closed at 1.81 per cent (1.88 per cent) and the twelve-month at 1.56 per cent (1.68 per cent).

g-secs: surged by about rs 2 in some long-tenor papers on friday. the 8.35 per cent 2022 government stock surged by over rs 2 to close at rs 114.10. the 10-year benchmark 7.37 per cent 2014 paper moved up by about 20 paise to close at rs.110.35 at the ytm (yield to maturity) of 5.94 per cent. the closing yield for 8.07 per cent 2017 paper was at 6.3 per cent whereas it was 7 per cent for the 8.35 per cent 2022 paper. the yield difference was also about 60 basis points between the 8.35 per cent 2022 paper and the 11-year benchmark 7.38 per cent 2015 paper.

call rates: in the range of 4.4-4.5 per cent in the inter-bank market

cblo market: 108 trades were transacted worth about rs.3,300 crore.

rbi: asks for scrutiny of demand and time liabilities
mumbai: the reserve bank of india has asked all banks to immediately undertake a special scrutiny of the computation of their demand and time liabilities (dtl) to ensure that these are worked out strictly in tune with the extant instructions on the subject.