Markets Report

Sentiment: Bullish

• Long-term government security prices increased on the last day of the year on Wednesday. Treasure bills witnessed higher cut-off rates.
• Prices of long-term papers rose by 25-30 paise, while in the medium term prices moved by five-seven paise.
• The benchmark 7.37 per cent 2014 paper closed at 5.14 per cent.
• Call rates remained at 4.25-50 per cent. There was one bid at the reverse repo auction to borrow funds.
• Repo subscriptions totalled Rs 24,800 crore.

Forex market

Sentiment: Volatile

• The spot rupee, which opened at 44.03-44.04 on Wednesday, witnessed a 88-90 paise movement during the day. It closed at 43.65-43.70 against the dollar.
• Forward premiums were inactive, with the three-month and six-month premiums closing at 1.24 per cent and 0.88 per cent, respectively.

Outlook The spot dollar is expected to open on Friday at 43.60-43.70 against a dollar.