MUMBAI, July 18: Carryforward rates on the Bombay Stock Exchange continued to hover in the band of 7 per cent to 9 per cent annualised for the week ended July 17. The total outstanding value of carryforward positions marked for the end of the trading cycle was Rs 672.62 crore, while the value of purchase carryforward positions was Rs 635.80 crore. However, the value of sale positions was marked considerably lower at Rs 98.95 crore, reflecting the absence of long sale positions.Interestingly, Reliance Capital which was traded under the book-bandh category at the badla session attracted backwardation of Rs 1.39 (weighted average) on account of the higher dividend yield. As against the standard hawala price of Rs 55 the dividend yield was 28 per cent.
The stock will be traded in the no-delivery category on the BSE from July 20. Besides Reliance Capital the other stocks to be traded on the exchange's no-delivery category from July 20 are -- Carrier Aircon, Century Textiles, German Remedies, IndianShaving, MRF, Ranbaxy, Rhone-Poulenc, Sesa Goa, Thermax and TVS Suzuki.
Another prominent feature of the trading cycle on the BSE was ITC which stepped out of the no-delivery phase on July 13. ITC attracted a carryforward charge of 7.66 per cent annualised based on the weighted average badla charge of Rs 1.11. The total outstanding quantity at the end of the trading cycle stood at 4,09,100 shares. The purchase carryforward position was marked at a phenomenal level of 4,04,900 shares, while that of sale was a meagre 85,600 shares.
"Market should continue to witness another round of wild and volatile movements during the week," a senior BSE broker said. Among the pivotals Reliance attracted a carryforward charge of 8.37 per cent for a huge net outstanding position of 36,85,300 shares.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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