Sentiment: Bearish With inter-bank players consolidating and selling at very rally, prices of gilts across the board fell by 30 paise. The 10-year benchmark paper 7.27 per cent 2013 hovered around 5.08 per cent. The market did not witness any major buying demand from banks. Call rates remained rangebound at 4/4.5 per cent. Repo subscriptions was around Rs 11,000 crore as against Rs 13,000 crore on Tuesday which was one of the reason for concern for the market players. Forex market Market Sentiment: Weak Inter-bank demand for short covering pushed the rupee to close at 45.35/36 after opening at 45.30/32. Excessive demand for cash dollars pushed the premium on one month, three month to a discount of 0.90 per cent and 0.12 per cent. Outlook The spot rupee is expected to open in the range of 45.34/36 to a dollar.
