The rates on the BSE fell to a realistic level of 24 per cent annualised, with the value of total outstanding carryforward positions touching a high of Rs 893.10 crore. "The rally on the last day reflected the short positions in the market. It reflected on the select stocks which attracted backwardation, in turnsignalling the continuity of the bull run," a BSE broker said.

According to market sources, over 1000 terminals were hooked on to the BOLT net, mirroring the increased level of participation after the BOLT terminals were set up outside Mumbai.

A prominent feature of the session was heavy-weight stocks, which attracted undha badla or backwardation till the lastphase of the session. These includes: EIH, IDBI, Infosys Technology, ITC, Larsen and Smithkline Pharma.

However, certain counters like Cummins India, Finolex Cables, Indian Hotel, Nestle, Pentafour Software, Supreme Industries, TPL and Telco which attracted backwardation during the initial phase of the session, closed on a positive note. Among the heavy weight counters, ACC attracted a carryforward rate of 23.02 per cent annualised. The last day of the settlement saw bull operators pull up the price above the crucial barrier of Rs 1,600. The counter saw a huge carryforward purchase position of 1.19 lakh shares.

Similarly, Bajaj Auto attracted a carryforward or seedha badla charge of 23.52 per cent for a net outstanding position of 1.69 lakh shares at the hawala price of Rs 610.