Markets Report

Money market

Sentiment: Bullish

• Prices of government securities rallied in relief over the coupon set by the RBI for its sale next week of states' 13-year loans.
• The yield on the benchmark 10-year paper ended down at 5.1243 per cent from Monday's close of 5.1338 per cent.
• Call money rates ended flat at 4.25-4.40 per cent, little changed from previous Monday's closing levels of 4.30-4.50 per cent.
• Subscriptions to the one-day repo auction stooed at Rs 23,300 crore.

Forex market

Sentiment: Bullish

• The rupee closed at a two-month high of 45.4050/4150 per dollar due to export remittances and on hopes of more foreign investments inflows.
• Forward dollar premiums ended up with the annualised premium on six-month dollar rising to 0.17 per cent from 0.10 per cent on Monday.

Outlook

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The rupee is expected to open in the range of 45.45 per dollar on Wednesday.