Market Reports

Money market

Sentiment: Bullish

The government securities market was lacklustre in the absence of any fresh triggers.

Prices of medium to long tenor papers moved in 9-10 paise range.

The 9.81 per cent 2013 gilt closed at 5.74 per cent

Call rates remained at 4.80-5 per cent on moderate demand in a market flush with funds.

The corporate bonds market remained dull with market participants sitting on good positions to offload.

Forex market

Market Sentiment: Bullish on rupee

The spot rupee firmed up to close at Rs 46.58/59 after opening at Rs 46.60/61. Corporate paying lifted forward premiums. Six-month and one-year annualised premiums were at 2.18 per cent and 2.08 per cent, respectively.

Outlook

The rupee is expected to remain firm as dollar inflows are likely to remain strong in the near term.