Re moves up to 44.20/$

MARKETS REPORT

Sentiment: Bearish

The rupee ended stronger at 44.20 today against its previous close of 44.27 per dollar.

The six-month forward premium closed at 2.10 per cent, while the 12-month premium ended at 1.64 per cent.

Money market

Sentiment: Bearish

Gilt prices moved in a tight range keeping an eye on fresh issuances of bonds.

RBI will auction 7.46 per cent 2017 gilt and 7.40 per cent 2035 stock each for an amount of Rs 3000 crore respectively on February 7.

The 8.07 per cent 2017 stock ended the day at 7.34 per cent.

Call rates fell to 6.60-6.80 per cent today

The RBI mopped up Rs 1000 crore through its morning reverse repo auction and infused Rs 3,060 crore into the system at 6.50 per cent.

The RBI absorbed another Rs 1,505 crore through the second reverse repo auction even as it infused Rs 2,065 crore at 6.50 per cent.