MUMBAI, February 14: Carry-forward rates on the Bombay Stock Exchange continued to hover in the rigid band of 14-16 per cent annualised for the total outstanding carry-forward positions valued at Rs 440.37 crore.The purchase carry-forward position's value has registered a sharp jump of over 10 per cent to close at Rs 422 crore. However, sale positions remained stagnant at Rs 21.36 crore.Of the 97 stocks offered during the carry-forward session, seven stocks attracted backwardation charges. Hindustan Lever continued to be in the limelight during Saturday's session to attract a backwardation of Rs 8.79 (weighted average). It attracted an interest charge of 30 per cent annualised for a net carry-forward position of 60,000 shares. However, Pond's attracted a carry-forward charge of 14.94 per cent for an outstanding position of 43,850 shares.
Lakme attracted a carry-forward charge of 14.97 per cent for a meagre carry-forward sale position of 28,350 shares.
``The stocks which attracted backwardation weretypically those which have heavy weightage on the Index, which reflects the beginning of another bull rally,'' said a BSE broker.
According to market sources, the backwardation at the ITC and HLL counter is a reflection of the buying interests by the line operators of Calcutta.Operator-driven Castrol took a beating on the local bourses, with the scrip trading at Rs 630 at the hawala market. The stock attracted a carry-forward charge of 14.93 per cent for a net outstanding position of 6.67 lakh shares.Among the MNC stocks, Colgate and Glaxo attracted carry-forward or seedha badla charges of 15 and 15.12 per cent respectively.
``With the Reliance bonus shares getting listed from Monday, the stock price should witness a marginal correction,'' said a BSE broker.
Mirroring the market perception, the stock attracted a meagre carry-forward charge of 0.68 per cent annualised, for a huge outstanding position of 17.99 lakh shares. Similarly, SBI also attracted a lower carry-forward of 1.39 per cent for anoutstanding position of 6.50 lakh shares.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
