Rupee remains unchanged
Mumbai: The rupee remained virtually unchanged against the dollar for the third day, on reports of central bank intervention. The domestic currency opened strong at 44.0750/0850 but dipped to close at 44.12/1250, against Tuesday's close at 44.10/11. Market participants said public sector banks were buying the greenback, on RBI advice.

Bonds: The bond market was quiet as prices dropped by around three paise (yields went up by one basis point) as the market turned bearish ahead of the Rs9,000-crore auction on Friday.

G-secs: The 8.07 per cent-10 year-2017 paper opened at Rs102.25 (7.74 per cent YTM) and closed at Rs102.15 (7.75 per cent YTM) against Tuesday's Rs102.17 (7.76 per cent YTM).

The 8.33 per cent-9 year-2016 paper opened at Rs99.04 (7.73 per cent YTM) and closed at Rs99.01 (7.74 per cent YTM) against the previous close of Rs99.04 (7.74 per cent YTM) on Tuesday.

Call rates: Call rates declined to 6.75-7 per cent against the previous close of 7.8-7.9 per cent on Tuesday. Dealers said that though liquidity has improved in the banking system the market is sceptic over its continuation.

Reverse repo: In the first one-day reverse-repo auction under LAF, the RBI received and accepted one bid for Rs15 crore and in the first one-day repo auction, it received and accepted five bids for Rs3,285 crore. In the second one-day reverse repo auction, the RBI accepted and received five bids for Rs100 crore and in the second one-day repo auction, it received and accepted one bid for Rs1,500 crore.

CBLO: The CBLO market saw 450 trades aggregating Rs23,348.35 crore in the 6.05-7.49 per cent range.
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IDBI sells property for Rs175 crore in Chennai
Chennai: IDBI Bank has auctioned off its 104,381sq ft property on Boat Club Road for Rs175 crore. The property was bought through an electronic auction by a `high net worth individual' whose name was not disclosed.

The final price of Rs175 crore for the property works out to Rs16,765 a sq. ft (Rs 4.02 crore a ground of 2,400sq ft; 43 grounds), setting a new mark for a property in that locality.

IDBI had advertised for bidders to participate in the e-auction through international real estate consultants Jones Lang LaSalle, the selling agents.

The reserve price was set at 132 crore. According to sources, over 10 bidders were in the fray and the bidding process had lasted over three and half to four hours.
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