Re ends higher at 45.57/$

MARKETS REPORT

Outlook: The spot rupee is expected to open in the range of 45.54/59 to a dollar.

Sentiment: Bearish

The spot rupee opened lower at 45.62/64 after closing last week at 45.56/57 to a dollar. It fell to an intraday low of 45.70/80 but closed at a high of 45.55/57 against the greenback following dollar sales by the RBI.

Six-month and one-year forward dollars closed at a premium of 1.08 per cent and 1.16 per cent, respectively.

Money market

Sentiment: Moderate

The government securities market witnessed brisk trading in the 5- and 10-year papers.

Despite brisk trading, the market moved in the range of 5-10 paise across maturities.

The yield on the 10-year benchmark gilt closed at 7.59 per cent.

Call rates ruled at 5.5/5.6 per cent with the RBI absorbing around Rs 65,000 crore from the system.

Corporate bond market remained lacklustre.