Markets Report

 Sentiment: Bullish

 

 

Prices of long-term papers went up by Re 1, while medium-tenor gilts surged 45-50 paise.

The 10-year benchmark paper 7.27 per cent 2013 closed around 5.15 per cent.

The Reserve Bank of India said that the interest rate on floating rate bonds 2009 for the half year ending 5 June 2004 will be 4.49 per cent.

Call rates were comfortable at 4.25 per cent.

Repo subscriptions touched around Rs 31,000 crore.

 Forex market

 Market Sentiment: Bullish

 

 

Backed by forex inflows, the spot rupee closed at 45.63/64 to a dollar.

Forward dollars were ranged with the six-month and one-year forwards closing at -0.21 per cent and 0.13 per cent.

 Outlook

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 The rupee is expected to open around 45.62/65 to a dollar.