Market Reports

Money market

Sentiment: Bullish

With the July 15 auction announcement warding off fears of open market operations, government security prices rallied on Wednesday.

Papers in the 15-year category surged by 25 paise.

The 10-year benchmark paper closed lower at 5.7150 per cent.

The liquidity situation was good with Rs 32,000 crore of repo subscription coming in.

Ten-year papers were heavily traded.

Forex market

Market Sentiment: Bullish

The spot rupee closed at a new high of 46.22/23 on dollar sales by exporters and lack of buying by PSU banks.

The 1-month, 6-month and one-year forward premiums closed at around 2.5 per cent each.

Outlook

The rupee is expected to open at 46.23/24 on Thursday.