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Informist, Monday, Oct. 20, 2025

 

By Vaishali Tyagi

 

MUMBAI - There were no issuances of commercial papers and certificates of deposits in the short-term debt market on Monday amid subdued participation as traders remained absent because of Diwali holiday, dealers said. "Most people were on leave today (Monday) and many bank traders were also not active due to short week," a dealer at a brokerage firm said. Markets administered by the Reserve Bank of India are shut Tuesday and Wednesday for Diwali. 

 

Dealers said both primary and secondary market activity remained dull as market participants remained on sidelines and engaged only in need-based trades. In the primary market, dealers attributed low participation and subdued volumes to the fact that deals were not concluded. "Today, we heard that SIDBI came to raise INR 40 billion through one-year CD, but I think deal was not concluded because of low participants," the dealer quoted above said. 

 

Market participants avoided taking large positions due to truncated week, however they expect activity to pick up after Diwali, a dealer at a brokerage firm said. Indicative rates for three-month CDs were 5.86-5.97%, unchanged from Friday. Yields on papers maturing in six months and one year also remained unchanged at 6.12–6.22% and 6.38–6.45%, respectively, dealers said.

 

Indicative rates in CP market were also unchanged due to limited activity. Rates on three-month CP issued by manufacturing companies were 5.95-6.05%, unchanged from Friday. Rates on similar maturity papers issued by non-banking financial companies also were unchanged at 6.65-6.75%.

 

Total turnover in the secondary market was down significantly from Friday. Most of the activity in the secondary market was concentrated in papers maturing in three months, they said. A total of INR 13.65 billion of CDs were traded in the secondary market, against INR 35.35 billion Friday. In the case of CPs, the turnover was INR 16.80 billion, down from INR 68.20 billion Friday.

 

--Primary market

* No CP and CD were issued on Monday.

 

--Secondary market

* Axis Bank's CD maturing on Nov. 12 was traded once at a weighted average yield of 5.7896%

* Aditya Birla Capital's CP maturing Thursday was traded once at a weighted average yield of 5.4044%

 

The following were the volumes, in INR billion, in the secondary market for short-term debt at 1700 IST, as detailed by the Clearing Corp. of India's F-TRAC platform:

 

Certificates of deposit		Commercial paper
Monday	Friday	Monday	Friday
13.65	35.35	16.80	68.20

 

End

 

Edited by Saji George Titus

 

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