Re ends higher at 46.69/$

MARKETS REPORT

Outlook:
The spot rupee is expected to open in the range of 46.66-70 to a dollar.

Sentiment: Bearish

Based on cross-currency effect, the spot rupee opened stronger at 46.71/72 after closing on Monday at 46.74/75 to a dollar.

Dollar sales by the RBI saw the rupee close higher at 46.68/69.

The annualised premiums on six-month and one-year forward dollars closed at 1.07 per cent and 1.20 per cent, respectively.

Money market

Sentiment: Bearish

Gilts trading was nervous as players were anticipating auction announcement as per the auction calendar.

The yield on the 10-year benchmark security closed at 8.37 per cent.

The prices of securities across maturities fell by 5-10 paise.

Call rates were comfortable at around 5.8/5.9 per cent with the RBI absorbing around Rs 45,000 crore.

Corporate bond market witnessed tier-II issues from banks and trading interest from provident funds.