Market Reports

Money market

Sentiment: Bullish

A good rally saw prices moving up by 20-25 paise in medium tenors and 10-15 paise in long tenors.

The 10-year benchmark 9.81 per cent 2013 paper closed at 5.6750.

Medium-tenor gilts rose rally as the market was adjusting the price levels for 10- year gilt auction slated in the first week of August.

Call rates ranged at 5.75 per cent with repo subscriptions at Rs 27,000 crore.

Corporate bonds saw brisk trading even in illiquid papers.

Forex market

Market Sentiment: Bullish

Weakening dollar saw the rupee close at 46.16 after reaching a high of 46.13.

The six-month and one-year forwards premiums ended lower at 1.88 per cent and 1.97 per cent.

Outlook

The rupee is expected to open at 46.1650/1750 to a dollar.