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Bandh hits markets

Mumbai, Sept. 26: Business and financial markets in the commercial capital came to a near standstill following the bandh call against the terrorist strike in Gandhinagar on Tuesday. While the markets, including equity, foreign exchange and bond, saw lacklustre activity with many participants staying away, clearing operations of the Reserve Bank of India (RBI) in the city were severely affected with few banks participating.

An RBI spokesperson added that attendance was over 30 per cent. A similar situation prevailed in banks and financial institutions with many employees preferring to stay home.

Brokers said for transactions in government securities, the negotiated dealing system functioned but volumes were thin.

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