The bond market saw some selling as a result of the auction. Dealers said that while the cut-off price of Rs102.11 of the 7.37 paper was in line with market expectations, the cut-off price of Rs99.44 of the 7.50 paper was below the expected price of Rs100-Rs 100.50.

For the 7.37 paper, the notified amount was Rs5,000 crore. The Reserve Bank of India received 292 competitive bids amounting to Rs10,455.95 crore. The cut-off price was Rs102.11 (7.04 per cent YTM). The RBI accepted 122 bids, amounting to Rs4,978.66 crore. The partial allotment percentage amounted to 58.61 per cent from 13 bids.

The amount of underwriting accepted from primary dealers was Rs5,000 crore. The weighted average price was Rs102.18. The RBI also received 19 non-competitive bids, amounting to Rs21.34 crore.

For the 7.50 paper the notified amount was Rs3,000 crore. The RBI received 129 competitive bids amounting to Rs4,889 crore. The cut-off price was Rs99.94 .The central bank accepted 86 bids amounting to Rs2,984.79 crore.

18 August 2005

Rupee steady - G-Secs rise
Mumbai: The rupee was range-bound against the dollar on Wednesday, trading at 43.54/55 levels. On Tuesday, the currency had closed at 43.53.

Forwards market: The 12-month premia closed at 0.92 per cent (0.96 per cent) and the 6-month premia at 0.99 per cent (1.08 per cent).

G-Secs: In the bond market, the 10.25-16 year-2021 paper closed at Rs125.49 (7.47 per cent YTM), higher than Tuesday's close of Rs125.24 (7.49 per cent). The 7.27-8 year-2013 paper ended at Rs102.08 (6.92 per cent YTM), up from Tuesday's Rs101.93 (6.95 per cent YTM). The 7.38-10 year-2015 benchmark paper was dealt at Rs102.25 (7.07 per cent YTM), up from Tuesday's Rs102.05 (7.09 pc YTM).

Call rates: The inter bank rates closed at 4.90-5 per cent (5-5.05).

Reverse repo auction: The RBI received and accepted 48 bids amounting to Rs38,155 crore.

CBLO market: 205 trades for Rs8,82.70 crore in the rate range of 4.65-5 per cent, were realised.

RBI: T-Bills auction fully subscribed
Mumbai: The auctions of the 91-day and 364-day treasury bills were fully subscribed, according to a press release from the RBI. The notified amount for both T-bills was Rs2,000 crore.

For the 91-day T-bills, the RBI received 60 bids amounting to Rs6,326.40 crore. Of these, the RBI accepted 26 bids. The cut-off price was Rs98.72. The partial allotment percentage of competitive bids was 22.31 per cent from 16 bids. The weighted average price was Rs 98.73.

The RBI also received and accepted one competitive bid amounting to Rs203 crore. The partial allotment percentage was 100 per cent and devolvement on the RBI was nil.

For the 364-day T-bills, the RBI received 82 competitive bids amounting to Rs5,936 crore. Of these, the RBI accepted 31 bids. The cut-off price was Rs94.70. The partial allotment percentage of competitive bids was 91.03 per cent from 13 bids. The weighted average price was Rs94.71.

The RBI also received and accepted one non-competitive bid amounting to Rs5.61 crore. The partial allotment percentage was 100 per cent and devolvement on the RBI was nil.