Money market |
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Sentiment: Positive
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| Higher underwriting fee offered to primary dealers at the auction subdued the government securities market. |
| Prices fell by 5 paise across the board on profit selling. |
| Ample liquidity led the repo subscription to hover around Rs 36,000 crore. This led to a rally later in the day with the prices gaining by 10-12 paise across all the maturities. |
| Market related cut-off yields announced in the auction added to the positive sentiment. |
| The benchmark 9.81 per cent 2013 security closed at 5.72 per cent. |
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Forex market |
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Market Sentiment: Cautious
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| Aggressive intervention by the RBI sent the rupee to 46.40 on Tuesday. The currency opened at 46.48 and closed 46.4550/4600. Lack of demand and little month-end paying pressure kept the forward premiums rangebound. The six-month and one-year premiums closed at 2.77 per cent and 2.51 per cent, respectively. |
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Outlook |
The rupee is expected to open today at 46.45/46. |
