Market Sentiment: Bullish Easy liquidity and expectations of a cut in key rates by the RBI drove the yields on gilts to lifetime lows. Yield on the benchmark 7.27 per cent 2013 gilt finished at a historic low of 5.015 per cent against its previous close of 5.03 per cent. The RBI received 30 bids aggregating Rs 12,960 crore at the one-day repo auction. Call money rates eased to close at 4.40/4.50 per cent. Forex market Market Sentiment: Cautious The rupee slid almost 30 paise to close at 45.71/72 on cash dollar shortage in the spot market and near-term covering by importers. The benchmark six-months annualised premium edged lower to close at a discount of 0.46 per cent against its previous 0.04 per cent. Outlook The rupee may edge lower to 45.80 as importers are seen covering their payables.
