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Markets Report

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BUSINESS STANDARD

Money market

Sentiment: Weak

  • Heavy selling by mutual funds led to a fall in prices of government securities by about 10 paise across the board.
  • While long term papers witnessed selling pressure, there was good buying interest in short term papers.
  • The yield on the benchmark 10-year bond rose to 5.7276 per cent.
  • There was abundant liquidity in the system, with repo subscriptions to the tune of Rs 32,000 crore.
  • Call rates ended softer at 4.50/4.75 per cent.
  • Forex market

    Market Sentiment: Bullish

  • Heavy FII inflows led the rupee to close at 46.2875 after it opened at 46.3250.
  • Heavy cash demand softened forward premiums. Six-month premium closed at 2.50 per cent.
  •  

    Outlook :The rupee is expected to open at 46.28/29 to the dollar on Wednesday.

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    First Published: Jul 09 2003 | 12:00 AM IST

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