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Our Bureau

Mumbai , Sept. 30

WITH Tuesday being the close of the second quarter and dealers busy making book entries, there were hardly any trades in the market.

Banks did not do customer transactions, but there were a few deals between banks. "A deal was seen struck at 45.75 against the dollar," said a forex dealer in a public sector bank. This would have been a pure inter-bank trade.

The rupee is expected to open stronger tomorrow with the dollar losing further sheen globally and some RIB proceeds expected to f low in. There seems to be little concern in the local forex markets over the $5.5-billion Resurgent India Bonds, which mature on Wednesday.

The government securities market saw trading volumes as high as over Rs 8,000 crore. Buoyed by the considerably lower borrowing programme of the Government, g-sec prices shot up by Rs 1.00-1.50 across maturities as compared with Monday's close.

The highly traded papers the 8.35 per cent 2022 paper closed at Rs 128.44/46 up from Monday's close of Rs 126.87. The 8.07 per cent 2017 paper closed at Rs 124.30/31 up from the previous close of Rs 123.14. The ten-year, 9.81 per cent 2013 closed at Rs 134.85 up from previous close of Rs 133.85.

All deals were done value Wednesday since there is no settlement by the central bank today; all banks are busy entering their second quarter book entries.

Through the LAF window, the apex bank accepted all 40 bids worth Rs 38,750 crore at the repo rate of 4.50 per cent. - - Our Bureau

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