10-Year Gilt At New Low
The benchmark 10-year gilt finished at a new lifetime closing yield of 6.01 per cent.
The five-year Hindalco paper was dealt four basis points lower to finish at a new lifetime closing low of 6.12 per cent.
Long and medium tenor gilts rose by 30 paise.
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Call finished unchanged at the previous day's level of 5.50-5.60 per cent.
Sentiment: Bullish
Outlook: Driven by easy liquidity, the 10-year gilt is likely to breach the 6 per cent yield level. Gilts prices will be up, while corporate yields may edge lower by around five basis points. Call money will rule easy.
Forex
Sentiment: Bullish
The rupee closed a tad weak at 47.9850/9900 amid dollar buying by state-run banks.
Exporter supplies at intraday low level propped the rupee to 47.96/97.
Outlook: The rupee is expected to hover in the 47.97-48.03 band to a dollar. Supplies will be limited as New York and other major forex markets were closed today.