Market Reports

Money Market

Sentiment: Subdued

The gilts market witnessed bouts of selling, tracking rising forward dollar premiums.

Gilts remained rangebound moving 5-10 paise across the board.

Trading in medium to long tenor papers and repo subscriptions totted up to Rs 20,000 crore.

Good interest expected for the 25- year maturity paper slated to be auctioned today.

Forex market

Market Sentiment: Bullish

The market was volatile with the spot rupee swinging by 41 paise in a day. It opened at Rs 47.09/11 and closed at Rs 47.12/14 after seeing lows of Rs 47.24/25. The six-month and 1- year annualised premiums stood at 1.71% and 1.8%, respectively.

Outlook: The rupee is expected to open at the same levels as on Monday at Rs 47.12/13.