MUMBAI, April 4: Carryforward rates, helped by a 50 basis point cut in the bank rate, attained a realistic level on the Bombay Stock Exchange (BSE). Market sources said the bank rate cut made badla returns more attractive and also brought back a section of financiers. This helped the carryforward rates correct on the downside.The rates on the BSE fell to a realistic level of 24 per cent annualised, with the value of total outstanding carryforward positions touching a high of Rs 893.10 crore."The rally on the last day reflected the short positions in the market. It reflected on the select stocks which attracted backwardation, in turn signalling the continuity of the bull run," a BSE broker said. According to sources, over 1000 terminals were hooked on to the BOLT net, mirroring the increased participation after the BOLT terminals were set up outside Mumbai. A prominent feature of the session was heavy-weight stocks, which attracted backwardation till the last phase.
