Re ends at 44.87/$

MARKETS REPORT

Outlook: The spot rupee is likely to open in the range of 44.83-88 to a dollar.

Sentiment: Bullish

The spot rupee opened at 44.90/91 but closed at a high of 44.8675/8775 following heavy dollar inflows into the equity market.

The annualised premium on six-month and one-year forward dollars closed at 1.94 per cent and 1.75 per cent.

Money market

Sentiment: Bullish

The prices of short- and medium-term government securities remained rangebound, while there was a rally in long-term papers.

Short- and medium-term papers moved in a range of 3-5 paise, while long-term papers rallied by 25-30 paise.

The yield on 10-year paper closed at 7.60 per cent.

Call rates ruled around 6.80/7 per cent, while the RBI absorbed around Rs 6,000 crore from the market.

Trading was rangebound as market players kept room for bidding in the government securities auction on Friday.