Market Reports

Money market

Sentiment: Bullish

The government securities market witnessed heavy profit taking towards close of trading, with prices falling by 8-10 paise in medium and long tenor papers.

The ten-year benchmark 9.81 per cent 2013 closed at a yield of 5.64 per cent.

The 7.40 per cent 2012 stock ended at Rs 112.40.

Corporate bonds witnessed profit taking as well.

Call rates moved in a narrow range around 5 per cent.

Forex market

Market Sentiment: Bearish

The rupee finished marginally firmer at 46.13/14 to the dollar after routine month-end dollar demand trimmed gains.

With demand for cash dollars shooting up, forward premiums crashed, with the six month premium closing at 1.61 per cent.

Outlook

The spot rupee is expected to open at 46.13/14 against the US dollar on Tuesday.