TTT volumes dip by 28%
value dips by 43% on tight liquidity!!
The tight liquidity situation prevailing in the market over the last four days due to the nationwide bank employees strike on September 29 continued to hit the Trade to Trade (TTT) segment on Bombay Stock Exchange (BSE) on Monday. This is despite the Sensex closing at an all time high, up by 63.17 at 8697.65. According to the data available with BSE, the trading volume in this segment dipped by 28% and turnover in value by 43% on Monday.
This is sharply lower than that on September 28, a day before the bank strike. The trading volume was 3.37 crore with total turnover of Rs 81.70 on September 28 which has come down to 2.41 crore and Rs 46.86 crore, respectively. A senior official from a domestic broking firm said that the dip in the volume and turnover was due to the tight liquidity situation prevailing in the system in the last four days due to the bank employees strike.
The TTT segment on Bombay Stock Exchange Ltd (BSE) which had been badly affected by bank strike on September 29 are likely to see higher volumes Tuesday onwards as the cheque clearance operations have been normalised.
An RBI official said that there is a steep rise in the clearance of high value of cheques piled up due to bank strike. The clearance of the back log existing in the system has been hastened. The banking system has cleared 28,137 instruments with a total value of Rs 14,148 Monday, the official said.
According to a senior RBI official, the bank strike had affected the clearance of the high value of cheques. The banking system clears 14,500 instruments every day with a cumulative value of Rs 10,000 crore.
According to the senior official of the broking firm, the normalisation of cheque clearances would help the investors to trade in TTT from tomorrow as the margins have to be paid upfront.
The bank strike on Thursday had hit the cheque clearance operations. It had dipped by more than 60% in terms of volume, 85% in value on the bank strike day. In real terms, it was just 4992 instruments with a total value of Rs 1,356 crore. The apex bank official said that no high value cheque was cleared on September 30 due to the half yearly closing of the accounts. The high value of cheques could not be cleared on October 1 as it was Saturday. The Union FM P Chidambaram had said that the bank branches will be kept open for full day on Saturday but this did not help the system to clear the high value of cheques.
The tight liquidity situation prevailing in the market over the last four days due to the nationwide bank employees strike on September 29 continued to hit the Trade to Trade (TTT) segment on Bombay Stock Exchange (BSE) on Monday. This is despite the Sensex closing at an all time high, up by 63.17 at 8697.65. According to the data available with BSE, the trading volume in this segment dipped by 28% and turnover in value by 43% on Monday.
This is sharply lower than that on September 28, a day before the bank strike. The trading volume was 3.37 crore with total turnover of Rs 81.70 on September 28 which has come down to 2.41 crore and Rs 46.86 crore, respectively. A senior official from a domestic broking firm said that the dip in the volume and turnover was due to the tight liquidity situation prevailing in the system in the last four days due to the bank employees strike.
The TTT segment on Bombay Stock Exchange Ltd (BSE) which had been badly affected by bank strike on September 29 are likely to see higher volumes Tuesday onwards as the cheque clearance operations have been normalised.
An RBI official said that there is a steep rise in the clearance of high value of cheques piled up due to bank strike. The clearance of the back log existing in the system has been hastened. The banking system has cleared 28,137 instruments with a total value of Rs 14,148 Monday, the official said.
According to a senior RBI official, the bank strike had affected the clearance of the high value of cheques. The banking system clears 14,500 instruments every day with a cumulative value of Rs 10,000 crore.
According to the senior official of the broking firm, the normalisation of cheque clearances would help the investors to trade in TTT from tomorrow as the margins have to be paid upfront.
The bank strike on Thursday had hit the cheque clearance operations. It had dipped by more than 60% in terms of volume, 85% in value on the bank strike day. In real terms, it was just 4992 instruments with a total value of Rs 1,356 crore. The apex bank official said that no high value cheque was cleared on September 30 due to the half yearly closing of the accounts. The high value of cheques could not be cleared on October 1 as it was Saturday. The Union FM P Chidambaram had said that the bank branches will be kept open for full day on Saturday but this did not help the system to clear the high value of cheques.
posted by Sensex-Blog Admin at 12:53 AM
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