Re ends flat at 44.28/$

MARKETS REPORT

Forex Market

Outlook:
The spot rupee is expected to open in the range of 44.24-28 to a dollar.

Sentiment:Bullish

The spot rupee remained rangebound and ended the day at 44.26/28 to a dollar.

Fund crunch and strong demand from oil companies led to the annualised premium on six-month dollars closing at 3.60 per cent.

Money Market

Sentiment: Bearish

Apprehensions on interest rate hike in the forthcoming quarterly review of monetary policy led to cautious trading.

Prices of government securities fell by 10-30 paise across maturities.

The yield on 10-year benchmark security closed at 7.76 per cent.

Call rates ruled around 8.10/8.15 per cent with the RBI infusing around Rs 16,000 crore into the market.

Oil bonds continued to be flavour for corporate debt market.