Markets Report

Money market

Sentiment: Bullish

• Amid the price consolidation and profit booking, gilt prices rallied on the back of abundant liquidity.
• Gilt prices in the long end moved up 25-30 paise, while in the medium tenor, it rallied by 10-15 paise.
• Call rates were seen comfortable, while the one-day repo subscription touched an all-time high of Rs 47,000 crore.
• While the 7.27 per cent 2013 closed at 5.09 per cent, the new emerging 10-year benchmark 7.37 per cent 2014 closed at 5.10 per cent.

Forex market

Sentiment: Moderate

• Backed by forex inflows, the rupee opened at 45.67/68 but closed at 45.62/63 even as it touched 45.6950 intra-day.
• Forward premiums remained lacklustre with the six-month and one-year closing at -0.10 per cent and 0.14 percent.

Outlook

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The spot rupee is expected to open in the range of 45.60-65 to a dollar.