Re ends at 44.95/$

MARKETS REPORT

Outlook
The spot rupee is expected to open in the range of 44. 92/95 to a dollar on Friday.

Sentiment: Bearish

The spot rupe opened at 44.91/92 and closed relatively higher at 44.94/95 backed by RBI intervention after reaching an intraday low of 44.97 to a dollar.

Forward premia for six month and one year dollars closed at 0.61 per cent and 0.54 per cent respectively.

Money market

Sentiment: Bearish

The government securities market witnessed prices coming down by 5-10 paise.

Even though the fall in prices is not very high, the movement was quite volatile.

The ten year paper 7.38 per cent 2015 closed at 7.14 per cent.

Call rates closed at 5.05 per cent with reverse repo bids at around Rs 18,000 crore.

The market sentiment turned bullish following reports that the government proposes to cancel the auction scheduled to be held between October 8-25.

Corporate bond market continued to rule lacklustre.