Markets Report

• While the overall sentiment in gilts market improved with fresh buying, heavy selling by a foreign bank checked an otherwise all-round rally.
• Prices of long-term papers increased by 15-20 paise, while those of medium-term securities grew by 5-10 paise.
• The yield on the ten-year benchmark paper closed at 5.21 per cent. Call money rates ended at 4.25-30 per cent.
• Subscription to one-day and 14- day repos stood at Rs 43,000 crore.

Forex market
Sentiment: Bullish

• The rupee opened at 45.2650/28 per dollar but touched a fresh closing high of 45.2350/24.
• Premiums on forward dollars came off. Annualised premium on the six-month dollar closed lower at 0.51 per cent.

Outlook
The rupee is expected to open between 45.23 and 45.28 per dollar.