January 24: Call rates ended steady at 7.90-8 per cent on Monday. Overnight rates opened at 8.10-8.20 per cent from Saturday's close of 7.95-8.05 per cent. Dealers said liquidity was comfortable, which arrested any rise in call rates. "There was some covering ahead of the state development loan (SDL) auction on Monday.However, demand waned in the afternoon allowing call rates to ease at close of trading," a primary dealer said. Four states will raise Rs 636 crore through a 10 year bond carrying a coupon of 11.30 per cent. Dealers said a few banks were availing of refinance from the Reserve Bank of India (RBI), which removed some pressure from the money market.
Banks and primary dealers avail of refinance from the central bank at 8 per cent.
FORECAST: Call rates seen steady at 7.95-8.05% levels on Tuesday.
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