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Drumbeat: Ad Buzzaar
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Sunday, July 5, 1998
Badla volumes come crashing
Our Market Bureau
Mumbai, July 4: Carryforward business at the Bombay Stock Exchange (BSE) came crashing to Rs 47.99 crore even as the rates dipped to 6-7 per cent levels on Saturday. The volume of transactions carried forward have been hovering at Rs 1,000 crore levels for a better part of the year and this is the first time that the levels have dipped below Rs 100 crore since the modified badla system was put into place last year.Carryforward rates on the BSE touched a low of 6.5 per cent before stabilising at 7.6 per cent annualised. According to market participants, the absence of short sales coupled with the steep fall in the positions marked for carryforward on account of huge margins, reflected on the interest rates. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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