The average daily trading volume of central government securities in the secondary market increased to around Rs.570 billion during Q1 of 2013-14 from Rs. 376 billion during Q4 of 2012-13. The traded volume in G-secs generally varied inversely with G-sec yields.
The gross market borrowings of the central government through dated securities during 2013-14 were to the tune of Rs.2,100 billion (net borrowings of Rs. 1,972 billion) up to July 26, 2013 compared with Rs. 2,340 billion (net borrowings of Rs.1, 594 billion) during the corresponding period of the previous year.
The weighted average maturity of the dated securities increased to 14.96 years from 13.62 years during the corresponding period of the previous year. The weighted average yield during the primary auctions eased to 7.64 per cent from 8.52 per cent during the corresponding period of the previous year.
The weighted average yield during the primary auctions eased to 7.64 per cent from 8.52 per cent during the corresponding period of the previous year (Table 40.9). The bid-cover ratio stood in the range of 1.41-6.09 as against 1.47-3.59 during the corresponding period of the previous year. The government availed of ways and means advances (WMA) on three occasions up to end-June 2013. As on July 16, 2013 the outstanding WMA position of the government was Rs. 3.06 billion.