Market Reports

Money market

Sentiment: Bullish

Boosted by liquidity and with no fears of an auction or OMO, there was 5-7 paise trading across counters.

The newly auctioned 7.37 per cent 2014 paper was the highest traded gilt on Wednesday.

Prices of the 6.05 per cent 2019 rallied by 15-17 paise during the day.

Call was rangebound with repo subscriptions hovering around Rs 20,000 crore.

Forex market

Market Sentiment: Bullish

With the markets in the US being closed on Friday, spot rupee ended higher at 46.48 per dollar. Good inflows had earlier lifted it to 46.4150. Forwards softened with the six-month and one-year premiums closing at 2.80 per cent and 2.60 per cent, respectively.

Outlook

The spot rupee is expected to open around 46.42/43 per dollar.