Market Reports

Money market

Sentiment: Bullish

• Gilt prices went up yesterday due to ample liquidity in the banking system and on hopes that banks will raise buying in January.
• The yield on the 8.07 percent security declined to 5.5344 per cent from 5.5391 per cent on Tuesday.
• The benchmark 10-year paper ended little changed at 5.1432 per cent due to low trading interest.
• Call money rates ended unchanged at 4.25-4.50 per cent.
• Subscriptions at two-day auction stood at Rs 29,315 crore.

Forex market

Sentiment: Bearish

• The rupee slid to a near three-week closing low of 45.5850/5900 per dollar as public sector banks mopped up greenbacks.
• The premium on the six-month dollar ended at an annualised 0.16 per cent compared with 0.22 per cent on Tuesday.

Outlook

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The rupee is expected to open at 45.55 per dollar on Thursday.