document.writeln("
Rupee
gains - bonds up
Mumbai:
The rupee appreciated against the dollar on Tuesday, in
tandem with a rise in the euro and the domestic hike in
key interest rates. The rupee closed at 45.06/07, up from
Monday's 45.16/17.
According
to dealers the quarter percentage hike in the repo and
reverse repo rate is perceived to be in favour of the
rupee, and was in line with market expectations.
Forward
market: The 12-month premium closed at 0.51 per cent
(0.49) and the six-month at 0.56 per cent (0.5).
G-Secs:
The 7.37-9 year-2014 paper closed at Rs102.47
(6.98 per cent YTM), up from Monday's Rs102.38 (6.99 per
cent YTM). The 10.25 per cent-16 year- 2021 paper
closed at Rs125.53 (7.45 per cent YTM), higher than Monday's
close at Rs125.41 (7.46 per cent YTM). The 7.38 per
cent-10 year-2015 benchmark paper was dealt at Rs102.10
(7.08 per cent YTM), 15 paise higher than Monday's Rs101.95
(7.099 per cent YTM).
Call
rate: The inter bank rates closed at 5.25 per cent
(5-5.05) in anticipation of higher rates on Wednesday.
Reverse
repo: In the one-day auction under the liquidity adjustment
facility, RBI received and accepted 24 bids amounting
to Rs12,215 crore.
CBLO:
In the CBLO market, there were 314 trades for Rs12,891.20
crore in the rate range of 5-5.25 per cent.
Back
to News Review index page
RBI
hikes reverse repo rate - leaves bank, CRR rate unchanged
Mumbai:
The Reserve
Bank of India left the short-term interest rate unchanged
to ward off price pressures, and increased its growth
forecast for one of the world's fastest expanding economies.
However,
the RBI lifted its reverse repo rate, used to drain liquidity
from the money market, by a quarter of a percentage point
to 5.25 percent.
Analysts
said there would be more rate increases early in 2006.
Tuesday's
widely expected rate rise takes the reverse repo to its
highest in 2-½ years. It last raised the rate,
by a quarter of a percentage point, in April.
The
cash reserve ratio (CRR) was also kept unchanged at five
per cent. Accordingly, the fixed repo rate under Liquidity
Adjustment Facility (LAF) would be 6.25 per cent with
effect from October 26, 2005.
Back
to News Review index page
Bank
stocks rise after RBI leaves rates unchanged
Mumbai:
After the Reserve Bank of India (RBI) announced no change
in the banking rates in the credit policy, banking stocks
began their upward climb.
On an average bank's stocks gained 1.54 per cent, increasing
investor's wealth by Rs3,120 crore. The market capitalisation
of the banking sector increased from Rs202,391 crore on
October 24 to Rs205,511 crore today.
The State Bank of India gained 2.44 per cent to Rs884.80
from the previous days closing of Rs863.75. The largest
private sector bank, ICICI Bank posted modest gain of
1.16 per cent to close at Rs503.70 on the Bombay Stock
Exchange.
United Western Bank was up by five per cent today from
Rs57.05 on October 24 to Rs59.90 today. Syndicate bank
gained 4.37 per cent to Rs80.20 while Syndicate Bank advanced
4.37 per cent to Rs80.20.
Oriental Bank of Commerce rose 4.16 per cent to Rs250.10
while Dena Bank rose 4.03 to Rs33.85. Punjab National
Bank rose 3.46 per cent to Rs400.90, Bank of Baroda gained
3.05 per cent to Rs223.25, Bank of India rose 2.64 to
Rs107.05 and Andhra Bank advanced 2.23 per cent to Rs94.05.
The losers included J & K Bank, down 4.5 per cent
to Rs 439.75, Ing Vysya Bank fell 2.85 per cent to RS
166.85, Indusind Bank was down 1.77 per cent to Rs52.85,
HDFC Bank down 0.84 per cent to Rs630.10 and State Bank
of Mysore fell 0.56 per cent to Rs3757.
Back
to News Review index page
HDFC
Q2 net up 20.49 per cent at Rs.298.98 crore
Mumbai: Housing
Development Finance Corporation (HDFC) has posted
a 20.49 per cent rise in net profit of Rs298.98 crore
for the quarter ended September 30, 2005, as compared
to Rs248.13 crore in the year-ago period.
Total
income increased by 24.29 per cent to Rs1,048.45 crore
for the quarter from Rs843.54 crore in the same period
last year.
Back
to News Review index page
