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Rupee
falls
Mumbai: The rupee fell against the US dollar on
Tuesday as it tracked the domestic equity market. The
rupee opened at 45.89/90 and touched 45.82 on dollar selling,
but weakened towards the end of trade. It finally ended
at 45.93, down from Monday's close of 45.78.
Forwards:
In the forward premia market, the six-month premium ended
at 0.68 per cent (0.75 per cent) and the one-year closed
at 0.87 per cent (0.91 per cent).
Call
rates: Call rates remained unchanged between 5.5 and
5.6 per cent.
Reverse
repo: In the first one-day reverse repo auction under
LAF, the Reserve Bank of India received and accepted 33
bids amounting to Rs40,875 crore and in the second one-day
reverse repo auction, 46 bids for Rs31, 425 crore.
CBLO:
There were 327 trades in the CBLO market aggregating
to Rs19,401.55 crore in the 4.60-5.15 per cent range.
G-secs:
Sentiment was initially bearish in the bond market, but
prices gained after the Rs10,000-crore Government securities
auction was held. The 7.59 per cent 10-year 2016
paper opened at Rs99.45 (7.67 per cent YTM) and closed
at Rs99.65 (7.65 per cent YTM). The 9.39 per cent 5-year
2011 paper opened at Rs108.50 (7.35 per cent YTM)
and closed at Rs108.67 (7.31 per cent YTM).
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ICICI
Pru-Life to expand Punjab network
New
Delhi: ICICI Prudential Life Insurance is making an
all out effort to tap the potential of the affluent semi-urban
and rural pockets of Punjab.
With
the help of rural teams, specifically designed to measure
the rural market, the company expects to increase its
market share manifold. According to company officials
the company has 15 centres in Punjab and would double
its network in three months in the state.
Keeping in mind the lack of education among the rural
population, the company has even designed it policies
in a simple manner. Last year the company registered a
growth rate of 30 per cent in the country and about 80
per cent in Punjab, which is a front ranking state after
the metros in offering opportunities for the insurance
business.
ICICI Prudential sold more than 2 million policies and
500,000 rural policies in 2005-06.
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