Badla shoots up

MUMBAI, Sept 19: Carryforward rates on the BSE shot up to touch a high of 21 per cent annualised weighted average for a net purchase carryforward position valued at Rs 734.96 crore.

According to market sources, the rising volumes on the exchange coupled with the increase in the demand for vyaj badla funds has contributed significantly to the sharp rise in badla rates. It may be recalled that the week ending September 12 saw badla rates move in the 10.5-18 per cent band and finally stabilised at 12.5 per cent weighted average for a net outstanding position of Rs 437 crore.