Rupee gains slightly
Mumbai: The rupee gained slightly against the dollar on Thursday in line with the gains in the domestic stock market. The currency opened at 44.23/24 and closed at 44.20 against Wednesday's 44.2450/25.

In forwards, the 6-month closed at 3.52 per cent (3.42) and the 12-month ended at 3.20 per cent (3.14).

Bonds: Bond prices dropped by around 18 paise and yields rose by about three basis points on advance tax payments. Total traded volumes on the order matching system fell to Rs1,070 crore (Rs1,340 crore).

G-secs: The 8.07-per cent 10-year 2017 paper opened at Rs100.63 (7.98 per cent YTM) and closed at Rs100.54 (7.99 per cent YTM) against the previous close of Rs100.72 (7.96 per cent YTM) on Wednesday.

The 7.37-per cent 7-year 2014 paper opened at Rs96.59 (8 per cent YTM) and closed at Rs96.35 (8.05 per cent YTM) against Rs96.47 (8.03 per cent YTM) on Wednesday.

Call rates: Call rates closed higher at 5.40-5.50 per cent (5.20-5.40).

Reverse repo: In the first one-day reverse repo auction, the RBI received fourteen bids for Rs19,370 crore, while it accepted Rs2,000 crore. In the second one-day reverse repo auction, the RBI received ten bids for Rs8,145 crore and accepted Rs1,000 crore. There were no repo bids.

CBLO: The CBLO market saw 429 trades aggregating Rs23,366.70 crore in the 3.60-6.45 per cent range.
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ICICI Bank mulls selling entire stake in NCDEX
Mumbai: ICICI Bank is looking at selling its 8 per cent stake in the National Commodities and Derivatives Exchange Ltd (NCDEX) to the Atlanta-based Intercontinental Exchange Inc, which owns the New York Board of Trade (NYBoT).

Last July, New York-based investment banker Goldman Sachs acquired the 7 per cent stake, divested by ICICI Bank, in NCDEX for Rs106 crore.

NCDEX, then valued about Rs1,520 crore, is an unlisted, public limited and de-mutualised commodities futures exchange.
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Bajaj Allianz signs bancassurance agreement with LVB
Bangalore: Bajaj Allianz General Insurance Company (BAGICL) and private bank Lakshmi Vilas Bank have entered into a bancassurance agreement for distribution of non-life insurance products.

For LVB, which has a substantial small and medium business customer base, loans would be bundled with the insurance products. The retail insurance products would also be offered to the LVB customers. Till January end, the company had earned gross premiums of Rs1,474.27 crore a 38 per cent increase over the last year.
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