Financial Daily from THE HINDU group of publications
Wednesday, May 12, 2004
Financial Daily from THE HINDU group of publications Wednesday, May 12, 2004 |
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Money & Banking
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Govt Bonds G-Secs recover after initial fall Our Bureau
MUMBAI: The Government securities prices fell by 20-40 paise intra-day on Tuesday but recovered to close at previous levels. The TDP-BJP's performance in Andhra Pradesh is being taken as a cue to the Lok Sabha results to be announced on Thursday. Traders sold heavily and were sitting light. Therefore players came to buy at the latter half of the trading session. Some indicative papers were the 7.46 per cent 2017 paper, which opened at Rs 118.50, touched a low of Rs 118.27 and ended at Rs 118.60. The 10-year yield ended a tad lower at 5.19 per cent, down from Monday's close of 5.20 per cent. Liquidity was ample with call rates stable at 4.30-4.50 per cent. Through the LAF window, the central bank sucked away liquidity worth Rs 3,915 crore at the repo rate of 4.5 per cent. This is lower than Monday's levels of over Rs 21,000 crore.
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