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Call rates go down to eight per cent as liquidity returns to the system
The overnight call rates dipped to 8% on Saturday and prices of government of India securities went up as liquidity came into the system after the Reserve Bank of India's intervention in the forward market cooled the call market. The call rates had zoomed to a record high of 140% following the apex bank's tight money policy. It has now dipped below the psychologial 10% barrier.
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Skindia GDR index down by 1.87 per cent
The strong rupee, an unstable government and redemption pressures saw the FIIs continuously pressing sales at the domestic and GDR markets. Reflecting the negative mood of the GDR market players, the Skindia GDR index declined by 1.87% to close at 780.66 points on January 29.
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Badla rates hover in band of 15-18 per cent
Carryforward rates on the Bombay Stock Exchange (BSE) continued to hover in the band of 15-18% annualised, for an outstanding carryforward position valued at Rs 380.68 crore. The prominent feature of the day's session was the backwardation charges attracted by the pivotals. The five stocks that attracted backwardation were SBI, Reliance, Dr Reddy's, Gujarat Ambuja and Ranbaxy.
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Silver recovers, gold reacts; g'nut oil slides
Gold lost gained ground while silver prices crossed Rs 8,500-mark on hectic buying interest. Silver .999 jumped up further by Rs 65 at Rs 8,530 per kg. Groundnut oil slid modestly on the oil, oilseeds market. It fell by a rupee at Rs 360 per 10 kg amidst demand resistance, while higher prices attracted profit taking.
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