Rupee rallies; bonds reel

MARKETS REPORT

The spot rupee is likely to open in the range of 43.43/48 to a dollar.

Forex market

Sentiment: dull

The spot rupee traded in a thin range of 43.45/46 to a dollar.

Forward dollars ended flat.

Money market

Sentiment: bearish

Inclement weather and rains kept most of the players away from the market.

Prices of the government securities trade in a thin range of 20 paise.

The ten year paper 7.38 per cent 2015 closed at 7.02 per cent.

Call rates ruled at 4.5/5 per cent.

Few players in the market included ABM Amro mutual fund, Prudential mutual fund, Allahabad bank, Deustche Bank, UTI bank etc.