Market Reports

Money market

Sentiment: Bearish

• Government security prices took a beating on auction announcement and thin trading.
• Prices of long-term securities sank by 10 paise.
• Medium-term gilts saw their bid-ask spreads widen.
• The yield on the ten-year benchmark, 7.37 per cent 2014, closed at 5.27 per cent.
• Call money rates ended at 4.25-30 per cent.
• Repo susbcriptions stood at a whopping Rs 45,500 crore.

Forex market

Sentiment: Bullish

• The rupee opened at 45.2930 per dollar and closed at 45. 2835/2950 after moving in a narrow range.
• Forward dollars remained firm. Annualised premiums on six-month and one-year forward dollars closed at 0.4 per cent and 0.5 per cent respectively.

Outlook

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The rupee is expected to open between 45.27 and 45.30 per dollar.