Call money ends low at 5.75-6 per cent

Mumbai, May 28 (UNI) Call money closed lower at 5.75-6 per cent today as compared to the previous close of 5.75-8 per cent on Friday.

During the day it touched a high of 7.80 per cent and a low of 5.75 per cent.

Indian federal bonds climbed to one-month high today, boosted by the absence of market stabilisation bonds (MSS) sales for this week and slowing headline inflation, dealers said.

The yield on the 10-year federal bond was at 8.08 per cent, compared with the previous close of 8.12 per cent. It hit a one-month high of 8.03 per cent at the opening, dealers said.

Trade volume was Rs 1,735 crore according to the Central Bank's electronic trading platform.

The total outstanding balance under the MSS stood at Rs 88,802 crore as on May 18. The Central Bank, which usually announces the sale for the coming week every Friday, last sold MSS bonds on May 16, dealers added.

UNI