Market Reports

Money market

Sentiment: Dull

Prices of long-term gilts were rangebound with 5 paise gain across the board, while prices of short-tenor papers moved up by 10 paise.

The 10-year benchmark paper 9.81 per cent 2013 closed at 5.71 per cent against its close of 5.70 per cent on Monday.

Call rates ruled at 4.90 per cent with repo subscriptions above Rs 25,000 crore.

Corporate bond yields were grooved on concerns that the RBI might intervene to absorb excess funds from the money market.

Forex market

Market Sentiment: Moderate

The rupee hit a low of 46.30 but export booking and dollar buying by banks saw it close at 46.20.

Forward premiums closed lower with six-month and one-year at 2.17 per cent and 2.16 per cent.

Outlook

The spot rupee is expected to open at 46.19/20 to a dollar.