Rupee firm - Securities up
Mumbai: The rupee closed marginally stronger at 45.8425/8500, against its previous closing at 45.86 per dollar.

Forwards Market: The six-month forward finished at 2.52 per cent (2.4 per cent), while the 12-month forward ended at 2.13 per cent (1.96 per cent).

G-Secs: The 7.38 per cent 2015 paper closed at Rs 104.50 at a yield of 6.78 per cent. The ten-year benchmark 7.37 per cent 2014 paper closed at Rs104.60.

Call Rates: In the range of 4.5-4.6 per cent.

CBLO: 129 trades worth Rs4,617.70 crore were transacted in the rate range of 4.5-4.7 per cent.
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RBI cancels Rs.5, 000 crore gilts sale
Mumbai: The Reserve Bank of India has cancelled the Rs5,000-crore auction of dated security scheduled to be held during October 18-25.

As per the indicative calendar for issuance of Government securities issued on September 20, the Government had scheduled this auction to be held during this period.

In a press release, the central bank said that the auction had been cancelled "after taking into account all relevant factors".

Market sources indicate that liquidity pressure in the market was a key factor affecting the decision as indicated by the dwindling amounts placed in the repos.
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Syndicate Bank Q2 net dips by Rs.50 crore
Bangalore: Syndicate Bank has reported Rs49.66-crore drop in net profits in the second quarter (Q2) this year due to fall in investment and treasury profits.

The bank said that net profits fell despite improved operating profits during the period. The net profit for Q2 was Rs75.58 crore as against Rs125.24 crore during Q1 of this fiscal year.

Depreciation and drop in investment income during Q2 was around Rs122 crore. Other income, including profits from treasury operations, dropped to Rs115.13 crore from Rs195.18 crore in the first quarter.

During the same period, provisions and contingencies, which included depreciation in investments, rose to Rs135.24 crore from Rs55.26 crore during Q1 this year.

Income from advances rose to Rs476.04 crore in Q2 as against Rs442.88 crore in Q1.
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