Markets Report

Money market

Sentiment: Bearish

• Gilt prices were ranged due to lack of any market triggers.
• Prices of long-term papers moved in a 10-15 paise band and those of medium-term securities moved in a 4-8 paise range.
• The yield on the ten-year benchmark paper closed in the range of 5.2650-27 per cent.
• Call money rates remained unchanged at 4.25-4.50 per cent.
• Subscriptions to repos stood at Rs 46,000 cr.

Forex market

Sentiment: Bullish

• The rupee opened at 45.24/25 per dollar and ended higher at 45. 2350/24.
• Premiums on forward dollars firmed up. Annualised premiums on six-month and one-year dollars closed at 0.42 per cent and 0.43 per cent respectively.

Outlook

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The rupee is expected to open between 45.22 and 45.24 per dollar.