Money Market

Sentiment: Nervous

Yields on gilts and corporate bonds edged up on some adverse observations in the Economic Survey.

Yields hardened as the Survey said banks cannot continue to invest in low-yielding gilts.

The 2007 Grasim paper was dealt five basis points higher at 7.40 per cent.

Call money continued to be tight and ended at 6.20-6.30 per cent.

The RBI did not receive any bids at the repo auction except for one bid for Rs 100 crore at the reverse repo auction.

Forex market

Market Sentiment: Bullish on rupee

The rupee ended at a new 17-1/2 month closing high of 47.6700/6750 per dollar as state-owned banks bought dollars at 47.6750. Supply of greenbacks was also good. The six-month premium ended at 3.79% as against Wednesday