Market Reports

Money market

Sentiment: Bullish

Repo cut hopes resulted in a 20-25 paise rally in long-tenor papers and 10-15 paise rise in medium tenors.

Profit booking brought prices by 10 paise.

The 9.81 per cent 2013 closed around 5.79 per cent

Mutual funds and banks were active in corporate bonds.

Call rate hovered around 4.90 per cent with repo subscriptions at Rs 18,000 crore.

Forex market

Market Sentiment: Positive

The rupee opened at 46.91/92 to a dollar and reached a high of 46.86 before closing at 46.90. The six-month forward premium ended at 1.65 per cent against 1.55 for one-year forward premium.

Outlook: The rupee is expected to open around 46.90/91 to a dollar.