Market Reports

Money market

Sentiment: Dull

Rising forward premiums induced selling pressure in government securities.

A positive inflation outlook triggered a 10-15 paise rally across maturities in early trades.

The benchmark 9.81 per cent 2013 closed at 5.76 per cent after hitting lows of 5.7450 per cent in intra-day trades.

Call rates ended higher at 5-5.10 per cent due to pressure on liquidity owing to the approaching reporting Firday and covering up of short positions.

Forex market

Market Sentiment: Subdued

The rupee closed at Rs 46.88/89 after seeing lows of Rs 47.94/95 in intra-day deals. Heavy dollar buying led to firming up of premiums. 1-month, 6-month and 1-year premiums hovered around 3.9%, 2.35% and 2%, respectively.

Outlook

The rupee is expected to open in the range of Rs 46.89/91 against the US dollar on Tuesday.