Market Reports

Money market

Sentiment: Mixed

Prices remained rangebound with investor interest mainly seen in the medium-term securities.

The benchmark 9.81 per cent 2013 paper closed at a yield of around 5.72 per cent.

There was 4-5 paise movement during the day and every rise in price brought about selling pressure.

Call rates moved in the range of 4.75-5 per cent with repo subscriptions at around Rs 23,000 crore.

Forex market

Market Sentiment: Bullish

The spot rupee closed higher at 46.40 (46.42) owing to good foreign exchange inflows.

Forward premiums remained stiff, with the six-month premium closing at 2.85 per cent.

Outlook

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Backed by a bullish sentiment, the spot rupee is expected to open higher at 46.39/40.