Re ends lower at 46.18/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 46.14-20 to a dollar.

Sentiment: Bearish

The spot rupee opened at 46.22 but closed at high of 46.18 to a dollar.

The annualised premiums on six-month and one-year forward dollars closed at 1.10 per cent and 1.20 per cent respectively.

Money market

Sentiment: Bearish

The prices of securities fell by 30-40 paise during the day.

The yield on 10-year paper closed at high of 7.32 per cent.

Call rates ruled around 5.8/5.9 per cent with the RBI absorbing around Rs 2,000 crore.

The government securities auction devolved with the RBI accepting bids worth Rs 1,719 crore against the notified amount of Rs 7000 crore.

Corporate bond market remained lacklustre.