Re ends flat 46.35/$

MARKETS REPORT

Forex market

Sentiment: Bearish

The rupee ended flat 46.34/35 against the dollar compared with Wednesday's close of 46.35/36

The local currency could not hold on to its intra-day high of 46.23 because of dollar buying by banks and gains in greenback globally

Money market

Sentiment: Bearish

Gilt yields rose 3 bps to hit new four-year highs on Thursday

A likely fuel price hike next week and the Rs10,000 crore govt auction slated for next Tuesday weighed heavy on the market

Dealers fear that a fuel price hike will keep inflation concerns alive

Fears over a rate increase in the next Fed meeting is also pushing up the yields

The yield on the benchmark 10-year bond ended at 7.68 per cent, up from the previous close of 7.65 per cent