Market Reports

Money market

Sentiment: Bullish

Government security yields dipped to record lows on Tuesday as investors bet on lower interest rates in the near term and easy money conditions stoked fresh buying.

Medium and long term papers were heavily traded. Medium term papers witnessed a 15-20 paise rally.

9.81per cent 2012 remained flat by closing at 5.739 per cent

Call rates edged up following a slight pick-up in borrowing. They hovered around 4.85 per cent.

Forex market

Market Sentiment: Bullish on rupee

The spot rupee appreciated to close at a new high of Rs 46.5950/6050 backed by good corporate and FII dollar inflows. Forward premiums eased to close at 2.10 per cent for six months and 1.94 per cent for one year.

Outlook

The rupee is expected to open in the range of Rs 46.59/62 to a dollar on Wednesday.