Market Reports

Money market

Sentiment: Positive

Yields on government securities softened a tad following comments by a finance ministry official that the Centre will spend Rs 10,000 crore before March 31, 2003, which may ease pressure on liquidity.

The benchmark 9.81 per cent 2013 gilt finished lower at 6.3061.

Call money rates closed higher at 6.25-6.50 per cent (6.00-6.25 per cent). Rates came off highs of seven per cent after the reverse repo auction, where Rs 6160 crore was injected into the banking system.

Forex market

Market Sentiment: Bullish on rupee

The rupee finished lower at 47.5500/5525 (47.5400/5425) per dollar as dollar demand from a finance corporation and RBI moves prevented it from gaining ground. The six-month premium ended lower at 3.21 per cent (3.25 per cent) on receiving interest.

Outlook: he rupee should trade in the 47.53-47.57 band against the US dollar on Monday. Not much trading is expected as it is the last trading day of the financial year.