Markets Reports

Money market

Sentiment: Bearish

Gilt prices fell across the board as frantic selling by mutual funds on Wednesday triggered losses for most banks and primary dealers.

While prices of long-term securities crashed by almost 50-80 paise, medium- and short-term papers fell by 10-20 paise.

Yield on the ten-year benchmark paper, 9.81 per cent 2013, closed at 5.33 per cent.

The 7.27 per cent 2013 security was the highest selling paper.

Call money rates ended at 4.5 per cent. Subscriptions at the repo window stood at Rs 18,040 crore.

Forex market

Market Sentiment: Bullish

The rupee opened at 45.70/71 per dollar and closed at 45.71 after falling to 45.7275/73 on aggressive dollar buying by public sector banks.

Forward premiums dipped on low dollar demand. Six-month premium closed at 1.23 per cent.

Outlook

The spot rupee is expected to open at 45.70/72 per dollar.