The last month of the year has passed off smoothly with most of the markets ending on positive notes. The equity market was stable with the SENSEX hovering around 10000 levels, Gilts market with very high trading volume due to drastic fall in sovereign rates, currency market reaching stability at about Rs.48 per Dollar, commodities market showing fall in price leading to fall in inflation level and positive reaction to the stimulus package announced by the Government and RBI. However, there is a consensus that the past event have taken a lot out of the economy and the days of 9% growth are not likely to be seen in 2009. As per the recent data release, imports and exports have slowed down significantly which is going to have a negative impact on the market. The fall in oil prices is the saving grace for the economy.
CCIL business attained a new milestone with outright gilts settlement volume reaching an all time high of daily average of Rs.17,491crores surpassing the last month's daily average of Rs.l0,674 crores. Repo transactions also achieyed an all time record of daily settlement average of Rs.16,943 crores vis-a.-vis Rs.15,191crores in Dec'08. CBLO achieved a robust growth with a daily average of Rs.32,261crore, while forex segment
recorded a marginal fall in average daily volume with Rs.70,658 crores. The 10-year benchmark witnessed continuous fall resulting in higher market activity. The reduction in CRR/SLR as well as policy rates like Repo/Reverse Repo rates also helped the market positively.
Going forward, we plan to publish "Rakshitra II electronically so that it can be widely circulated through mail as well as through free downloads from our website. The new CCIL portal which is going to be launched shortly will have more flexibility to add more content to the existing website. The new "CCIL Certification Programme" is going to help market participants to refresh their knowledge and skill set. I expect all staff members to actively take part in the certification to make it a success. There is a general feeling that 2009 will be better than 2008. Let us hope so as with so much potential the Indian economy is being held back on account of sentiment. Wishing all readers a very Happy and Prosperous New Year
CCIL business attained a new milestone with outright gilts settlement volume reaching an all time high of daily average of Rs.17,491crores surpassing the last month's daily average of Rs.l0,674 crores. Repo transactions also achieyed an all time record of daily settlement average of Rs.16,943 crores vis-a.-vis Rs.15,191crores in Dec'08. CBLO achieved a robust growth with a daily average of Rs.32,261crore, while forex segment
recorded a marginal fall in average daily volume with Rs.70,658 crores. The 10-year benchmark witnessed continuous fall resulting in higher market activity. The reduction in CRR/SLR as well as policy rates like Repo/Reverse Repo rates also helped the market positively.
Going forward, we plan to publish "Rakshitra II electronically so that it can be widely circulated through mail as well as through free downloads from our website. The new CCIL portal which is going to be launched shortly will have more flexibility to add more content to the existing website. The new "CCIL Certification Programme" is going to help market participants to refresh their knowledge and skill set. I expect all staff members to actively take part in the certification to make it a success. There is a general feeling that 2009 will be better than 2008. Let us hope so as with so much potential the Indian economy is being held back on account of sentiment. Wishing all readers a very Happy and Prosperous New Year
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