Market Reports

Money market

Sentiment: Bullish

Record volume of above Rs 9,500 crore seen in government bonds.

Brisk trading was seen in 15-year and above tenors owing to bullish sentiment triggered by EPF rate cut move.

While medium-tenor papers saw a 30 paise surge, the long-tenors moved up by around 60 paise.

Call money rates ended easy in the range of 4.75-5 per cent.

Forex market

Market Sentiment: Volatile

The rupee oscillated as one major corporate bought dollars worth $250-300 million. The currency closed higher at 46.85 as the dollar slipped against the euro. Six-month and one year rupee forward premium ended higher.

Outlook: The market is expected to be volatile with premiums going up.