Markets Report

Sentiment: Bullish

• While the undertone in the government securities market was bullish, players were cautious about the debut of the seven-day repo.
• Prices of long-term securities moved up by 10-15 paise and those of medium- and short-term papers remained flat.
• The yield on the ten-year benchmark gilt closed at 5.16 per cent.
• Call money rates remained soft.
• Subscriptions to two-day and seven-day repo came up to Rs 48,135 crore.

Forex market

Sentiment: Bullish

• The rupee closed at a fresh four-year high of 44.07 per dollar after opening at 44.40/42.
• Premiums on dollar forwards inched on exporter cancellations. Annualised premiums on six-month and one-year dollars closed at 0.90 per cent and 0.75 per cent respectively.

Outlook The rupee is expected to open between 44.05 and 44.08 against the greenback on Tuesday.