Re ends weak at 43.48/$

MARKETS REPORT

Forex market

Outlook
The spot rupee is expected to open in the 43.47/43.49 range against the dollaron Friday.

Sentiment: Bearish

The spot rupee opened at 43.42 but lost ground to close at 43.48 to a dollar

The six-month and one-year forward premiums closed at 1.45 per cent and 1.33 per cent, respectively.

Money market

Sentiment: Bullish

Gilt prices rallied owing to the government delaying the next auction announcement and global crude oil prices moderating. Prices of long- and medium-term papers went up by 50-60 paise. Short-term gilt prices moved up by 30-40 paise.

The ten-year benchmark 7.38 per cent gilt yield closed at 7.06 per cent.

Call rates ruled at 5.10 per cent due to the outflow towards the state auction. Reverse repo bids were at Rs 18,000 crore. Corporate bonds saw a small rally owing to demand from mutual funds.