Market Reports

Money market

Sentiment: Bullish

With the gilt buyback over, prices went up by 10 paise across the board.

Medium term and long-term papers were the flavour of the market.

Interbank call rates ruled around 4.95 per cent with repo subscriptions at Rs 25,000 crore.

The benchmark 10-year 9.81 per cent 2013 paper closed lower at 5.70 per cent against 5.72 per cent last week.

Ample liquidity and receding demand in the second week of reporting period kept call easy.

Forex market

Market Sentiment: Bullish

The rupee opened at 46.2450/2550 to a dollar and fell to 46.29 before closing at 46.2750.

Forward premium remained rangebound with six-month and one-year premiums closing at 2.26 per cent and 2.25 per cent.

Outlook

The rupee is expected to open at 46.28/29 against the greenback today.