Business Standard

Rupee gains, Gilts fall

MARKETS REPORT

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Our Banking Bureau Mumbai
Forex market
 
Outlook
The rupee may open between 46.18 and 46.24 against the greenback on Wednesday.
 
Sentiment: Bullish
  • The rupee opened at 46.28/29 per dollar and ended higher at 46.21/23 on the back of dollar sales by corporates.

  • Premiums on forward dollars ended unchanged.
 
Money market
 
Sentiment: Bearish
  • Apprehensions over the state development loan sales, to be held on July 28, drove down government security prices.
  • There RBI will put up an on-tap sale of 10-year state development loans to raise Rs 8,600 crore at 6.35 per cent.
  • Prices of long-term securities declined by 50-60 paise, while those of medium- and short-term gilts slid 25-30 paise.
  • The yield on the ten-year benchmark paper, 7.37 per cent 2014, closed higher at 5.95 per cent.
  • Subscriptions at the repo window stood at Rs 15,000 crore.
 
 

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First Published: Jul 28 2004 | 12:00 AM IST

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