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Saturday, October 17, 1998

Festive air fails to lift badla rates 

Our Market Bureau  
Mumbai, Oct 16: Carry-Forward rates on the Bombay Stock Exchange (BSE) continued to dip to hover in the band of 9-10.5 per cent weighted average. The advent of Diwali had no impact on the fund inflows into the badla market, which saw the rates dip lower in the absence of demand.

The long positions on the BSE stood at Rs 746 crore, while the short ones were pegged at Rs 261 crore. Reflecting the wait-and-watch attitude adopted by the operators on account of the approaching festive season and the new year, which begins on October 19, requirement for funds was at the lowest ebb.

Among the pivotals, ITC attracted a backwardation of Rs 0.29, while Reliance, State Bank and Telco attracted lower carry-forward charges of Rs 0.20, Rs 0.29 and Rs 0.19 respectively.

While Hindalco attracted the highest backwardation of Rs 6.18, Hero Honda attracted Rs 1.37, and Hindustan Lever Rs 4.57. Exide Industries attracted a backwardation of Rs 1.41 for a net position of 29,000 shares. The backwardation rates fluctuatedbetween Rs 10 and Rs 5, the intra-session low and high respectively.

UTI Master Plus continued to attract backwardation for the second consecutive week. UTI Master Gain registered bhav-bhav or nil badla charges. The net outstanding sale position was over 23,000 as on October 16.

Nestle, Ingersoll Rand and MRF were traded in the book-closure vyaj badla category. These stocks will be traded on the no-delivery category of the exchange from October 19. Nestle attracted a book-bandh badla charge of Rs 2.80, while Ingersoll Rand attracted a book-bandh charge of Rs 4.42 and MRF attracted Rs 12.35.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


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