Re ends at 45.76/$; Gilts firm

MARKETS REPORT

Forex market

Sentiment: Bearish

The rupee ended at 45.75/76 per dollar, off a one-week intra-day high of 45.6775, and 0.04 per cent stronger than Wednesday's 45.77/78 close

Very strong dollar demand is seen from gold and oil importers, corporates and genuine cash (dollar) demand past 45.70

Money market

Sentiment: Bearish

Gilts recovered from intra-day lows to end firm on improved money market liquidity

Talk that a scheduled bond auction could either be cancelled or delayed, also propped the sentiment

RBI set a cut-off yield of 7.34 per cent on the 10-year Andhra Pradesh state development loan

Yield on 7.37 per cent 2014 paper ended at 6.9648 per cent, off an intra-day high of 6.9770 per cent and softer than Wednesday's 6.9748 per cent

The overnight call money rate eased to 6.15-6.25 per cent from the previous close of 6.25-6.35 per cent, indicating a marginal improvement in banks' cash surpluses