Markets Report

Money market

Sentiment: Bearish

• Government securities prices plummeted across the board as banks booked profits.
• Prices of long- and short-term securities fell by 15-20 paise.
• The yield on the ten-year benchmark bounced back to 5.18 per cent compared with 5.15 per cent on Monday.
• Call money rates hovered in the range of 4.40-4.50 per cent.
• Subscriptions to one-day repo auction stood at Rs 53,000 crore.

Forex market

Sentiment: Bullish

• FII inflows drove the rupee up by 22 paise to 44.87 per dollar.
• Premiums on forward dollars rose as importers, baffled by the fresh highs of the rupee , rushed to cover open positions.

Outlook

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The rupee is expected to open between 44.87 and 44.90 against the greenback.