The aggregate debt turnover on the National Stock Exchange crossed Rs 10 trillion mark in the first eight months of fiscal 2004.

The WDM segment witnessed a turnover of Rs 10,00,995 crore (Rs 10.009 trillion) between April 1 and December 2 -- up 44.4 per cent from Rs 6,93,146 crore (Rs 6.93 trillion) turnover achieved in the corresponding period in 2002-03.

The growth assumed significance as during the entire fiscal 2003, the segment had Rs 10,68,702 crore (Rs 10.68 trillion) turnover - a 13 per cent higher than the turnover posted in 2001-02. In 2001-02, the segment had clocked a turnover of Rs 9,47,190 crore (Rs 9.47 trillion).

Except in November 2003, all other seven months in fiscal 2004 had clocked more than Rs 100,000 crore (Rs 1 trillion) turnover.

The reason for a slowdown in turnover in November was the Reserve Bank of India and Securities and Exchange Board of India clamp down on unlisted securities.

Fiscal 2004 had a good start with Rs 101,052 crore (Rs 1.01 trillion) turnover. May and June witnessed higher growth of 131.7 per cent (Rs 1,23,359 crore) and 132.5 per cent (Rs 1,26,672 crore).

The segment witnessed a record turnover of Rs 1,62,737 crore (Rs 1.62 trillion) in August 2003. The turnover, however, slipped below Rs 100,000 crore (Rs 1 trillion) in November to Rs 80,903 crore (Rs 809.03 billion).

The highest activity was reported in government paper 8.07 per cent maturing at 2017 with turnover of Rs 103,769 crore (Rs 1.03 trillion) in 17,342 trades.

The 7.46 per cent paper maturing at 2017 was the second most traded securities with Rs 91,458 crore (Rs 914.58 billion), followed by 7.40 per cent 2012 (Rs 66,342 crore), 6.25 per cent 2018 (Rs 52,976 crore) and 9.85 per cent 2015 (Rs 42,375 crore).

During the period under review, mutual funds' investment in debt rose by 26.5 per cent from Rs 48,698 crore (Rs 486.98 billion) to Rs 61,607 crore (Rs 616.07 billion).

Foreign institutional investors' also increased their investment in debt by more than five fold to Rs 7,827 crore (Rs 78.27 billion) in 2003-04.