Re ends marginally lower at 46.57/$

MARKETS REPORT

Outlook:
The spot rupee is expected to open in the range of 46.54-58 to a dollar on Monday.

Sentiment: Bearish

The yen weakness led to the spot rupee opening at 46.52/54 and falling to 46.6150 before closing for the day at 46.56/57 to a dollar.

The annualised premium on six-month and one-year forward dollars closed at 1.31 per cent and 1.29 per cent respectively.

Money market

Sentiment: Bullish

Prices of government securities rose by 20-25 paise in the beginning of the trading session but profit booking by banks led to a fall of 60-70 paise during the day.

The yield on the 10-year paper closed at 7.97 per cent.

Call rates closed at 6.05/6.10 per cent with the RBI absorbing around Rs 23,985 crore.

The market is awaiting announcement of the auction next week which they expect to be a combination of medium- and long-term papers.

Corporate bonds were bullish with investment interest from provident funds in long paper and mutual funds in short-term papers.