Market Reports

Money market

Sentiment: Bullish

Gilt prices ended higher on late buying enquiries after opening lower.

Medium tenor papers gained 20-25 paise, while those at the longer end were up 25-40 paise.

The benchmark, 9.81 per cent, 2013 paper closed higher at Rs 129.10/15.

Overnight rates ended at 4.25-4.50 per cent amid ample funds in the system.

At the one-day repo, the Reserve Bank of India received and accepted 35 bids for Rs 31,185 crore.

At the one-day reverse repo auction, the RBI did not receive any bids.

Forex market

Market Sentiment: Bullish

The rupee ended the day at 47.415/425 as state-run banks bought dollars. The three-month forward annualised premium wound up at 2.39 per cent.

Outlook: The rupee is expected to hover around 47.36-47.42 against the greenback.