Re ends higher at 46.28/$

MARKETS REPORT

Outlook:
The spot rupee is expected to open in the range of 46.25-30 to a dollar.

Sentiment: Bullish

The spot rupee opened at 46.34 but appreciated to 46.2750 backed by forex inflows.

The six-month and one-year annualised premiums closed at 1.42 per cent and 1.39 per cent, respectively.

Money market

Sentiment: Dull

The prices of government securities closed flat compared with Monday after opening higher following soft oil prices.

The yield on the ten-year paper closed at 7.70 per cent.

Call rates ruled a bit higher at 6.10-15 per cent as banks set aside funds for advance tax payments.

The government announced the sale of oil bonds for a total amount of Rs 7,000 crore which do not qualify for SLR reserve requirements

The RBI absorbed surplus liquidity of around Rs 34,000 crore from the market.

The reverse repo bids declined as banks started to set aside funds for advance taxes.