Re ends a tad weaker at 46.53/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 46.48-52 to a dollar.

Sentiment: Dull

The spot rupee opened at 46.55/56 but closed at 46.53 to a dollar.

The annualised premium for six-month and one-year forward dollars closed at 1.31 per cent and 1.28 per cent respectively.

Money market

Sentiment: Bullish

The government securities market witnessed a rally in prices following buying interest from banks.

The market took comfort from the statement of the ministry of finance which specified that the state government is maintaining a surplus of Rs 54,000 crore with the RBI.

The yield on the 10-year paper closed at 7.99 per cent against 8.03 per cent on Tuesday.

The liquidity in the market eased with the RBI absorbing around Rs 31,000 crore from the market as against Rs 28,000 crore.

The call rates closed at 6.05 /6.10 per cent.