Sentiment : Mildly bullish
Despite good liquidity, gilts were flat with prices moving in a narrow 5-10 paise band.
They opened lower, fell by 5-6 paise in early trades and stayed at those levels. Towards close, however, prices rebounded by 5-10 paise.
The benchmark 7.40 per cent gained around five paise from the opening level of Rs 101.56.
With call money comfortable in the 5.65-5.80 per cent band, players rolled cash over to fund their securities positions.
Outlook: Gilts may open higher, but are seen being range-bound by the end of the session. Call money will be comfortable in the 5.65-5.80 per cent band.
Forex
Sentiment : Placid
The rupee closed slightly weak at 48.41/42 per dollar compared with Wednesday's 48.40/41.
Trading was lacklustre as importers stayed away on expectations of a further rise in rupee.
Exporter dollar supplies were good, but the rupee could not pierce the 48.40 mark as state-owned banks absorbed the greenback inflows.
Premiums on the forward dollar edged lower as exporters sold receivables.
Outlook: The rupee is expected to trade in the 48.41-48.43 band per dollar. Forward premiums could droop a bit.
