Money market |
|
Sentiment: Bullish |
|
| With the cut-off yield of 5.76 per cent for nine-year paper and 6.13 per cent for 25-year paper being in line with market expectations, sentiment in the gilts market got a boost. |
| There was 20-30 paise movement in long tenor papers and a 10 paise shift in medium tenor papers. The 9.81% 2013 paper was traded at 5.80 per cent.There was good demand for high coupon papers. |
| Liquidity was comfortable as repo subscriptions stood at around Rs 27,000 crore. Call rates moved in the range of 4.85-5.0 per cent. |
|
Forex market |
|
Market Sentiment: Bullish
|
|
| The spot rupee strengthened to close at Rs 46.95/46.96 on dollar selling by exporters after opening at Rs 47.09/47.11. Six-month and one-year annualised premia closed down at 1.55 per cent and 1.58 per cent, respectively. |
|
Outlook: The rupee is expected to open around Rs 46.95/96 on Wednesday. |
