Call money tight

The overnight call money rates ended with tight conditions at the interbank call money market on Thursday.

The call rates opened at the 2.50 to 3 per cent level, slipped to 1.25 to 1.50 per cent and again firmed up to close at 1.75 to 2.50 per cent at the fag end.

Tommorrow being a reporting Friday, most of the bankers were busy squaring up their positions which they had, expecting the rates to go down, omitted to do. Otherwise, it was a squarish market with easy trade during the day, a dealer said.

The primary dealers, Discount and Finance House of India extended market support to the tune of Rs 13 billion while the Securities Trading Corporation of India's total turnover amounted to Rs 11 billion.

UNI