Markets Report

Money market

Sentiment: Bearish

• Government security prices continued to slide on profit selling and on worries over rising inflation.
• Prices of medium- and long-term papers declined by 30-60 paise.
• The benchmark 10-year 7.27 percent gilt ended at 5.2165 per cent, up from Tuesday's 5.1928 per cent.
• Call money rates ended flat at 4.25-4.40 per cent on the back thin demand.
• Repo subscriptions at the one-day auction stood at Rs 27,170 crore.

Forex market

Market Sentiment: Bullish

• The rupee ended higher at 45.52/53 per dollar on dollar selling by exporters.
• Premiums on forward dollars ended flat. The annualised premium on the six-month dollar ended one basis point lower at 0.06 per cent.

Outlook

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The rupee is expected to open around 45.50 per dollar on Thursday.