Re ends with a gain at 43.78/$

MARKETS REPORTS

Outlook: The spot rupee is expected to open in the range of 43.75/78 to a dollar on Tuesday.

Sentiment: Bullish

• The spot rupee opened at 43.80-43.81 on Monday but gained to close at 43.7750/78 to a dollar on the back of inflows after a long weekend.
• Forward dollar premiums remained flat with the six-month and one-year dollars closing at 1.46 per cent and 1.63 per cent, respectively.

Money market

Sentiment: Bearish

• The statements of the expenditure secretary allaying fears of a rise in interest rates and inflation soothed the market sentiment on Monday.
• While there was not much change in the prices of long-term papers, short-and- medium-term gilts witnessed a 15-30 paise rise.
• The 10-year benchmark 7.38 per cent 2015 paper yield closed at 6.65 per cent.
• Call rates ruled easy at 4.70 per cent, while reverse repo bids were at Rs 23,000 crore.
• Gilt prices may rule volatile with the announcement of the government borrowing programme on Monday.