Markets Report

Money market

Sentiment: Bullish

Good liquidity and upbeat sentiment brought fresh demand.

15-year and above tenors witnessed a rally of 10-20 paise.

Call rates ruled around 5 per cent, barring an intra-day spurt to 5.30 per cent.

The 9.81 per cent 2013 paper closed at 5.73 per cent.

There was routine demand for funds from banks to meet their reserve requirements.

Forex market

Market Sentiment: Lacklustre

Good inflows and less intervention from the RBI saw the rupee touch a new high of 46.50/51 before closing lower at 46. 53/54. Forward premium, remained high at 2.25 per cent for six-month dollar and 2.1 per cent for one-year dollar.

 

Outlook

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The rupee is expected to open in the range of 46.50/52 against the greenback.