Money Market

Sentiment: Bearish

Gilt yields ended sharply higher in wake of the sale of state loans next week.

The yield on the 10-year benchmark, the 9.81 per cent 2013 bond, ended at 6.4219 per cent.

Corporate yields rose amid thin trade on mounting US-Iraq war fears.

Call money closed sharply higher at 6.00-6.25 per cent.

Traders fear the state loan sale and tax payments may impact market liquidity.

Forex market

Market Sentiment: Nervous

The rupee ended weaker at 47.6475/6550 as importers rushed to cover short dollar positions. The six-month annualised premium finished at 3.57 per cent.